RELATED PARTY TRANSACTIONS

12 Months Ended

Jun. 30, 2019

(16) RELATED-PARTY TRANSACTIONS

In May 2016, CII sold OVS, a company that provided voice and managed offerings that the Company spun off during the year ended June 30, 2014, to an entity that had a material ownership interest in the Company during Fiscal 2018. As of June 30, 2018, the entity that owns Inteliquent, Inc., successor by merger to OVS (“Inteliquent”), no longer has an ownership interest in the Company and is no longer a related party.

The following table represents the revenue and expense transactions the Company recorded with Inteliquent for the periods presented:


	Year Ended June 30,
	2018		2017
	(in millions)
Revenues	$	7.4	$	7.5
Operating costs	$	2.7	$	2.0

As of June 30, 2018, the Company had $0.4 million due from Inteliquent.

Dan Caruso, the Company’s Chief Executive Officer and Chairman of the Board is a party to an aircraft charter (or membership) agreement through his affiliate, Bear Equity LLC, for business and personal travel. Under the terms of the charter agreement, all fees for the use of the aircraft are effectively variable in nature. For his business travel on behalf of the Company, Mr. Caruso is reimbursed for his use of the aircraft subject to an annual maximum reimbursement threshold approved by the Company's Nominating and Governance Committee. During the years ended June 30, 2019, 2018 and 2017, respectively, the Company reimbursed Mr. Caruso $0.6 million, $0.7 million and $0.8 million for his business use of the aircraft.