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Otelco Inc. (OTT) Sank To A New Low After Time Warner Contract Expiration

Otelco Inc. (OTT: Quote) announced after the bell Friday that Time Warner Cable indicated that it will not renew its existing contract for wholesale network connections provided by Otelco. The contract represented approximately 11.7% of Otelco's consolidated revenue for 2011.

Otelco gapped open dramatically lower Monday and fell in early trade, before settling into a range. The stock closed down by 5.37 at $6.66 on the highest volume of the year. Otelco plunged to a new low for the year.

by RTT Staff Writer

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