Shentel closes JetBroadband deal
Shenandoah Telecommunications Co. (Shentel) has closed the transaction – announced on April 16 – to purchase the cable operations of JetBroadband Holdings.
JetBroadband, located in southern Virginia and southern West Virginia, was purchased for $148 million. The purchased company's cable operations have approximately 115,000 homes passed and 66,000 RGUs.
The JetBroadband employees located in Virginia and West Virginia have joined Shentel.
Over the next two years, Shentel plans to spend up to $33 million to upgrade the entire network to offer additional video options, high-definition, DVR, greater Internet speeds and voice services.
Shentel has been gradually buying cable systems. It bought NTC in 2004 and Rapid Communications in the summer of 2008.