text: Through Sprint, the Company began receiving revenue from wholesale resellers of wireless PCS service in late 2002. 
  These resellers pay a flat rate per minute of use for all traffic their subscribers generate on the Company’s network. 
  The Company’s cost to handle this traffic is the incremental cost to provide the necessary network capacity. 
  
  The Company faces vigorous competition in the wireless business as numerous national carriers are aggressively 
  marketing their services in the Company’s markets. The competitive landscape could change significantly depending 
  on the marketing initiatives of our competitors, or in the event of consolidation in the wireless industry. 
  
  The wireline business is made up of traditional telephony, cable TV, fiber network operations and the Company’s long- 
  distance resale business. These businesses operate in a defined geographic area. The Company’s primary service area 
  for the telephone, cable TV and long-distance business is Shenandoah County, Virginia. The county is a rural area in 
  northwestern Virginia, with a population of approximately 37,300 inhabitants, which has increased by approximately 
  6,000 since 1990. The potential for significant numbers of additional customers in the current operating area is limited. 
  
  The Company’s telephone subscriber count declined in the third quarter and again in the fourth quarter of 2003. 
  Migration to wireless and DSL services are believed to be driving this change. Based on industry experience, the 
  Company anticipates this trend may continue for the foreseeable future. 