CenturyTel To Buy Madison River for $830 Million

CenturyTel Inc. (NYSE: CTL) has agreed to acquire Madison River Communications Corp., a Mebane, N.C.-based provider of rural telephone services, for $830 million in a combination of cash and assumed debt. Madison River had been in registration for a $287.5 million IPO, Madison Dearborn Partners, Goldman Sachs and Providence Equity Partners. www.centurytel.com www.madisonriver.net