Deal includes the purchase of all assets and transition of Colane customers, employees
Edinburg, VA. – January 4, 2015 – Shenandoah Telecommunications Company (Shentel) (NASDAQ: SHEN) today announced an agreement to purchase Colane Cable TV for $2.4 million. Colane Cable TV is a video, Internet and home phone provider located in southwestern West Virginia.
Colane currently serves 3,680 customers and passes 8,660 homes in the communities of Omar, Crawley Creek, Low Gap, Delbarton and Hanover located in Logan, Boone, Mingo and Wyoming counties in West Virginia. Those areas are adjacent to existing Shentel service areas in McDowell and Wyoming counties, W.Va., allowing for a smooth transition when connecting Colane’s communities to the Shentel network.
As part of this acquisition, Shentel has committed to making significant upgrades which will offer faster Internet speeds, additional HD video channels and reliable phone service.
“We are pleased to be able to expand our cable business in West Virginia,” said Earle MacKenzie, Chief Operating Officer at Shentel. “Our planned multi-million dollar investment will allow Shentel to offer a robust triple play including 101Mbps of Internet to the residents and businesses in the Colane communities.”
The transaction requires certain regulatory approvals and is expected to close in the first quarter of 2016.
To find out more information on what this means for current customers, please call 1-800-SHENTEL or go online at www.shentel.com.
About Shenandoah Telecommunications
Shenandoah Telecommunications Company (Shentel) provides a broad range of diversified telecommunications services through its high speed, state-of-the-art network to customers in the Mid-Atlantic United States. The Company’s services include: wireless voice and data; cable video, internet and voice; fiber network and services; and local and long distance telephone. Shentel is the exclusive personal communications service (“PCS”) Affiliate of Sprint in portions of Pennsylvania, Maryland, Virginia and West Virginia. For more information, please visit www.shentel.com.
About Colane Cable TV, Inc.
Colane Cable Television was founded in 1955 in Omar, W.Va., located in Logan County. Colane is dedicated to providing modern, high-quality television, digital phone, and high-speed broadband Internet services to the homes, institutions and businesses of Southwestern West Virginia.
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