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TheStreet Open House

Shenandoah Telecommunications' CEO Discusses Amended Sprint Nextel Agreement (Transcript)

Stocks in this article: SHEN

Shentel provides a detailed discussion of various risk factors in our SEC filings, which you’re strongly encouraged to review. You are cautioned not to place undue reliance on these forward-looking statements. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statement.

I’ll turn the call over to Chris now.

Christopher French

Thank you, Adele and good morning. I am excited to report that Shentel has continued to leverage our good relationship with Sprint, and we’ve reached an agreement to amend our contract and take another step forward with our affiliation.

The amendment creates a win-win situation for both Sprint Nextel and Shentel and allows us to upgrade our network in accordance with Sprint’s Network Vision plans. As a result, we will be able to continue providing great service to our customers and our network will remain an important part of the Sprint’s high quality nation-wide network.

I am sure that everyone on this call is familiar with Sprint’s network upgrade project referred to as Network Vision. So I won’t go into any detail about the network itself.

I will begin my presentation on slide four. From our perspective, there are many benefits we will get from making this investment. These include: keeping our network aligned with Sprint’s to provide a seamless nationwide network for our customers; letting us remain competitive with Verizon and AT&T in our service area; improving customers’ experience through faster data speeds and better coverage; allowing us to initially launch LTE in the 1900 megahertz G block in parts of our network by the third quarter of 2012.

The network will also make use of the 1800 megahertz spectrum that Sprint is harvesting from their iDEN network, giving us better in building and overall coverage. The Addendum gives Shentel the potential to leverage our investment in this new network to host other companies’ spectrum such as LightSquared. We will also be able to convert existing iDEN customers to our network.

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