CenturyTel Buys Madison River

CenturyTel Inc. (NYSE: CTL) has acquired Madison River Communications Corp., a Mebane, N.C.-based provider of rural telephone services. Sellers include Madison Dearborn Partners, Goldman Sachs and Providence Equity Partners. The deal was valued at $830 million, and resulted in Madison River withdrawing registration for a $287.5 million IPO.  www.madisonriver.net