SureWest announced that it has entered into an agreement to sell its fixed wireless Internet access business unit to Yonder Media

August 3, 2009

1 Min Read

ROSEVILLE, Calif. -- Leading independent communications holding company SureWest Communications (NASDAQ: SURW) announced today that it has entered into an agreement to sell its fixed wireless Internet access business unit to Yonder Media, a broadband Internet provider focused on providing broadband access services in rural communities.

SureWest expects to use the net proceeds from the transaction to continue its focus on the growth of its core Broadband segment. As a result of the sale of the fixed wireless Internet assets, Yonder Media and SureWest have also developed a long-term business relationship which creates recurring monthly Broadband Business revenue for SureWest.

Steve Oldham, SureWest's president and chief executive officer, said, “The sale of our fixed wireless Internet assets is an appropriate move for the company as we continue to execute on our plan to divest non-core assets from the business and focus on providing the most advanced telephone, Internet and television services, and an outstanding customer experience. The net proceeds from the sale, as well as the resulting new business relationship, will continue to improve our financial flexibility as we enhance our broadband triple-play offerings.

“Yonder Media is an excellent fit for our customers, matching them with a company that is equally committed to superior customer service as our customers have become accustomed to with SureWest.”

SureWest Communications (Nasdaq: SURW)

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