Coast Selling to Corridor

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Corridor Communications Inc., a wireless-based Internet-service provider, said it has agreed to buy Coast Communications Inc.’s 25 cable systems in Arizona and Nevada, and it will launch high-speed Internet services on the larger systems.

The Coast systems pass 40,000 homes and generate $3.1 million in annual revenue, Corridor said.

The company added that it signed a letter of intent to buy the systems with a mix of cash and stock. The acquiring company said it is based in Mountain View, Calif., and operates in Salem, Ore.

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