Shentel to Buy JetBroadband

Shenandoah Telecommunications continues diversification with purchase of JetBroadband for $148M

April 19, 2010

1 Min Read

EDINBURG, Va. -- Shenandoah Telecommunications Company (Shentel) (Nasdaq:SHEN - News) today announced that the Company has signed an Asset Purchase Agreement to purchase the cable operations of JetBroadband Holdings, LLC which are located in southern Virginia and southern West Virginia for $148,000,000. The operations pass approximately 114,000 homes and have approximately 66,500 Revenue Generating Units (RGUs). Jet currently offers video, high speed Internet and voice services. The acquisition will be financed with a credit facility that will close simultaneously. Closing will occur upon receipt of regulatory approvals which should occur within 90 to 120 days.

The company will host a conference call and simultaneous webcast on Monday, April 19, 2010 at 9:00AM ET.

Shenandoah Telecommunications Co. (Nasdaq: SHEN)

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