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Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) reported first quarter 2024 financial results with revenue totaling $274.7 million. The company saw an increase in consumer broadband revenue and commercial data services revenue. However, net loss was reported at ($47.2 million) with an increase in net interest expense. The company made significant capital expenditures and entered into a term loan agreement. Consolidated also completed the sale of its Washington assets and is pending acquisition by Searchlight Capital Partners, L.P. and British Columbia Investment Management
Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) has finalized the sale of its Washington assets to Palisade Infrastructure on May 1, 2024. The divestiture is part of the Company's strategic asset review and focus on fiber expansion. The Washington operations included around 9,950 data connections, 8,500 access lines, and generated around $20 million in revenue in 2023. Lazard acted as the financial advisor for the transaction.