Shenandoah Telecommunications Company (Shentel) has entered an agreement to purchase West Virginia's Colane Cable TV for $2.4 million.
Colane serves 3,680 customers and passes 8,660 homes in the areas of Omar, Crawley Creek, Low Gap, Delbarton and Boone -- areas that are adjacent to existing Shentel systems in McDowell and Wyoming counties.
Shentel said it will make significant upgrades to Colane systems, deploying faster Internet speeds and more HD video. The Edinburg, Va.-based operator expects the deal to close in the first quarter.
"We are pleased to be able to expand our cable business in West Virginia," said Earle MacKenzie, COO at Shentel. "Our planned multi-million dollar investment will allow Shentel to offer a robust triple play including 101 Mbps of Internet to the residents and businesses in the Colane communities."
The announcement follows Shentel's August purchase of nTelos for approximately $640 million in a move the company said will improve its fiber and cable holdings.
Shentel's deal for nTelos doubled its retail wireless customer base to more than 1 million and expanded its wholesale wireless relationship with Sprint. In addition to gaining nTelos' retail wireless assets in the Mid-Atlantic and Southeast regions, Shentel is receiving payments from Sprint over the next five to six years totaling up to $252 million under new affiliate terms with the carrier. Sprint and Shentel have extended their terms by five years, to 2029.
- read this Shentel press release
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