SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): May 21, 2003 (date of
receipt of accountant's letter)
Price Communications Corporation
(Exact Name of Registrant as Specified in Charter)
New York 1-8309 13-2991700
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
45 Rockefeller Plaza
New York, New York 10020
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 757-5600
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
We are delighted with the letter of Deloitte & Touche in response to our
Form 8-K of two weeks ago, agreeing with our important statements concerning
their release. We are further pleased that Deloitte agrees that the minor
"disagreement" which Deloitte had with the financial statements dating from 1999
audited by our former accountants, Arthur Andersen, "was ultimately resolved"
and is fully explained in our Form 10-K for the year ended December 31, 2002.
This matter had no financial impact on the Company.
We are pleased that we are closing our relationship with Deloitte & Touche
on this positive note.
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ITEM 7. EXHIBITS.
16.1 Letter from Deloitte & Touche LLP to the Securities and Exchange
Commission dated May 15, 2003
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: May 23, 2003
PRICE COMMUNICATIONS CORPORATION
By: /s/Kim Pressman
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Kim Pressman
Executive Vice President and Chief Financial Officer
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May 15, 2003
Securities and Exchange Commission
Mail Stop 11-3
450 5th Street, N.W.
Washington, DC 20549
Dear Sirs/Madams:
We have read Item 4 of Price Communications Corporation's (the Company) Form 8-K
dated May 5, 2003, and have the following comments:
1. We agree with the statements made in the first sentence of the first
paragraph concerning the dismissal of Deloitte & Touche LLP; and the
statements made in the third paragraph and the fifth paragraph.
2. We do not agree with the statements made in the second paragraph. The
Company and Deloitte & Touche had a disagreement over the accounting
for certain redeemable preferred stock issued in prior years to the
Company's Chief Executive Officer. This disagreement was ultimately
resolved. Reference is made to Note 10 to the consolidated financial
statements included in the Company's Form 10-K for the year ended
December 31, 2002 for a discussion of this matter.
3. We have no basis upon which to agree or disagree with the statements
made in the first sentence of the first paragraph concerning the
engagement of BDO Seidman, LLP; the statements made in the second
sentence of the first paragraph; or the statements made in the fourth
paragraph.
Very truly yours,
Deloitte & Touche LLP