8-K/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________

FORM 8-K/A

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 16, 2007

Warwick Valley Telephone Company
(Exact name of registrant as specified in its charter)

0-11174
(Commission File No.) 14-1160510
(I.R.S. Employer Identification No.)

New York
(State or other jurisdiction of incorporation or organization)

47 Main Street
Warwick, New York 10990
(845) 986-8080
(Address, including zip code, and telephone number,
including area code, of Registrant’s principal executive offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the obligation of the registrant under any of the following provisions:

o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02(c).	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
	On January 16, 2007 Warwick Valley Telephone Company (the “Company”) issued a press release announcing that on January 15, 2007 the Company entered into an employment agreement with Thomas H. Gray, age 57, as Interim President & Chief Executive Officer. Mr. Gray is the founder and leader of the Telecom Expert Group (2001-present). Formerly a Vice President with Ameritech and Belgacom (prior to 2000), and FLAG Telecom (from 2000-2001), he has 37 years experience in United States and international telecom general management, strategy, organization, due diligence, mergers and acquisitions, marketing, product development, customer service and operations. His experience with small business operations was obtained as Managing Director of Mooney Airplane Company (in 2004) and a member of the Board of Directors of Mooney Aerospace Group (2005-2006).
	Mr. Gray’s employment will be for a three to six month period effective from the date of the agreement but may be terminated at any time by either Mr. Gray or the Company, effective on the 30th day after delivery of written notice to the other party. He will receive a salary of $8,333.83 per week. The Company will reimburse Mr. Gray for reasonable travel and incidental expenses such as lodging and meals use of a company car for business purposes, and weekly airfare to and from his home. Mr. Gray will not be eligible for employee benefits, fringe benefits or other perquisites made available to Company employees. Mr. Gray will also enter into an agreement with the Company indemnifying Mr. Gray with respect to certain legal costs and expenses pursuant to the Company’s By-Laws and the New York Business Corporation Law. The agreement will be in the form previously utilized by the Company with other officers and directors.
	A copy of the press release containing such announcement is found in Exhibit 99.1 hereto, which is incorporated herein by reference.
Item 8.01.	Other Events.
	Warwick Valley Telephone Company is mailing its shareholders and informational newsletter. A copy of this newsletter is attached to this Current Report as Exhibit 99.2 and is incorporated herein by reference.
Item 9.01.	Financial Statements and Exhibits.
	(c) Exhibits
	99.1 Press Release entitled “WVT Announces Interim CEO,” dated January 16, 2007.
	99.2 Shareholder newsletter dated January 16, 2007.

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.

	WARWICK VALLEY TELEPHONE COMPANY
		(Registrant)
Date: January 16, 2007		By: /s/ Thomas H. Gray
		Name: Thomas H. Gray
		Title: Interim President & Chief Executive Officer

Exhibit Index

Exhibit No.	Description
99.1	Press Release entitled “WVT Announces Interim CEO,” dated January 16, 2007.
99.2	Shareholder newsletter dated January 16, 2007.

EX-99.1

Exhibit 99.1

WVT ANNOUNCES INTERIM CEO

( Warwick, NY, January 16, 2007) Warwick Valley Telephone Company (Nasdaq: WWVY) (the “Company”) announced today that the Company entered into an employment agreement on January 15, 2006 with Thomas H. Gray, age 57, as Interim President & Chief Executive Officer. Mr. Gray is the founder and leader of the Telecom Expert Group. Formerly a Vice President with Ameritech, Belgacom, and FLAG Telecom, he has 37 years experience in United States and international telecom general management, strategy, organization, due diligence, mergers and acquisitions, marketing, product development, customer service and operations. His experience with small business operations was obtained as Managing Director of Mooney Airplane Company.

Contact: Warwick Valley Telephone Co.
Thomas H. Gray
Interim President & Chief Executive Officer
(845) 986-8080

EX-99.2

Exhibit 99.2  Shareholder Newsletter

Shareholder News

January 16, 2007

Dear Shareholder:

During the past two and one half years, WVT has gone through a major transformation. We have reorganized our management structure to better focus on marketing and sales and reduced staff by more than a third. We are actively engaged in changing our internal processes and procedures to comply with regulatory requirements on internal control over financial reporting. Our new accounting systems will further benefit WVT by making us more efficient, lowering the cost of processing data, providing better data for improved decision making, reducing labor expense, and internal and external auditing costs. We have upgraded our switching equipment enabling us to offer new Internet Protocol services such as Internet telephony, automatic delivery of voice mail to your computer, and more sophisticated broadband services such as Integrated T-1, which provides businesses with more flexible and efficient ways to use bandwidth. We continue to strengthen our core product lines by bundling our existing services with new services like Warwick Wireless telephone, another revenue generator.

Our focus on cutting costs will continue in 2007, and it will be accompanied by additional efforts to increase operating revenue. We will concentrate on providing small and medium size businesses with reliable and cost-effective worldwide broadband connectivity. We will also provide full suites of wholesale voice, video and data services to large dwellings and business centers throughout New York and New Jersey.

Much has been accomplished, and your Company will continue to adapt to the changing face of telecommunications. One unanticipated change is my retirement from WVT at month end due to health complications. To accomplish a smooth

transition, I will remain on the Board of Directors. On January 15^th, Mr. Thomas H. Gray was hired as interim President and CEO. This will enable the Board to perform a thorough search for a permanent replacement. Mr. Gray is well known in the industry and has an extensive background in telephony, having recently served as interim President and CEO at several companies larger than WVT. We are pleased to have him on board.

We will also be hiring an interim Chief Financial Officer to support us through the upcoming audit as we complete the search for a permanent replacement.

Under its new leadership, I am confident that WVT will remain focused on providing exceptional service to its customers and increasing shareholder value. Both the Company and I thank you for your ongoing support.

Herbert Gareiss, Jr.