Shenandoah Telecommunications Company Expands Cable Holdings
EDINBURG, Va., April 16 /PRNewswire-FirstCall/ -- Shenandoah Telecommunications Company (Shentel) (Nasdaq: SHEN) 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.
The call is being webcast and can be accessed from the "Investor Relations" section of the company's website ( www.shentel.com). The webcast and a transcript of the call will also be archived on the company's website. If you do not have internet access, the conference call dial-in number is 1-888-389-5993 and the pass code is 8806242. International parties can access the call by dialing 1-719-325-2359 and entering pass code 8806242. A telephonic replay of the conference call will also be available starting at noon ET on the day of the call until April 26, 2010 at midnight ET. To hear the replay, parties in the United States and Canada should call 1-888-203-1112 and international parties should call 1-719-457-0820 and enter pass code 8806242.
About Shenandoah TelecommunicationsShenandoah Telecommunications Company is a holding company that provides a broad range of telecommunications services through its operating subsidiaries. The Company is traded on the NASDAQ Global Select Market under the symbol "SHEN." The Company's operating subsidiaries provide local and long distance telephone, Internet and data services, cable television, wireless voice and data services, alarm monitoring, and telecommunications equipment, along with many other associated solutions in the Mid-Atlantic United States. SOURCE Shenandoah Telecommunications Company
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV