Shentel Completes the Expansion of Gigabit Broadband Service in Franklin County

Shentel (Nasdaq: SHEN) completed a Virginia Telecommunications Initiative (VATI) project expanding gigabit broadband to more than 6,700 previously unserved homes in Franklin County, Virginia.

Rhea-AI Summary

Shentel (Nasdaq: SHEN) completed a Virginia Telecommunications Initiative (VATI) project expanding gigabit broadband to more than 6,700 previously unserved homes in Franklin County, Virginia. The $32 million construction was funded by VATI, Shentel capital investment, and a Franklin County contribution.

The expansion aims to improve local connectivity for residents, businesses, and community institutions and follows collaboration between Shentel, Franklin County, and the Virginia Department of Housing and Community Development.

Positive

• Gigabit service delivered to >6,700 previously unserved homes
• $32 million construction project funded by VATI, Shentel capital, and Franklin County

Negative

• None.

Argus May 5 session

+2.13% close to close Open Argus

Details

News Market Reaction – SHEN

On May 5, the day this news came out, SHEN closed 2.13% above the previous close.

Data tracked by StockTitan Argus for the May 5 session.

Key Figures

Project cost: $32 million Homes passed: 6,700 homes

Project cost

$32 million

Construction project to expand gigabit broadband in Franklin County, VA

Homes passed

6,700 homes

Previously unserved homes gaining gigabit broadband in Franklin County, VA

Historical Context

5 past events · Latest: May 01

5 events

1. May 01

   Earnings results

   24h Move

   +3.6%

   Q1 2026 revenue and Adjusted EBITDA growth with reiterated 2026 guidance.

2. Apr 13

   Earnings call notice

   24h Move

   +0.7%

   Announcement of timing for Q1 2026 results and conference call webcast.

3. Mar 17

   Network expansion

   24h Move

   +0.7%

   Launch of 100% fiber broadband in Springettsbury Township, PA for 7,000 locations.

4. Mar 03

   Network expansion

   24h Move

   +3.3%

   Completion of $24M gigabit broadband build for 4,900 homes in Bedford County, VA.

5. Feb 26

   Earnings results

   24h Move

   +3.0%

   Q4 and 2025 results highlighting fiber growth, margin expansion and ABS refinancing.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

gigabit broadband, virginia telecommunications initiative (vati)

2 terms

gigabit broadband technical

"project to expand gigabit broadband internet service to more than 6,700 previously unserved homes"

Gigabit broadband is an internet connection capable of moving data at about one gigabit per second (1 Gbps), roughly a thousand times faster than typical megabit speeds, so large files, high‑definition video and many connected devices can work smoothly at once. For investors, it signals where carriers and infrastructure builders must spend and compete: areas with gigabit service tend to attract businesses, boost consumer usage and enable new services, affecting revenue growth, capital costs and long‑term market value.

virginia telecommunications initiative (vati) regulatory

"completion of its Virginia Telecommunications Initiative (VATI) project to expand gigabit broadband"

A state-run grant program that pays for building or upgrading high-speed internet infrastructure in parts of Virginia that lack reliable service. For investors, it matters because the program directs public money and permits toward broadband projects, changing where and how telecom companies can grow revenue and deploy equipment — similar to a public road project that suddenly opens new neighborhoods to business and customers.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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EDINBURG, Va., May 05, 2026 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (Shentel) (Nasdaq: SHEN), a leading broadband service provider, is pleased to announce the completion of its Virginia Telecommunications Initiative (VATI) project to expand gigabit broadband internet service to more than 6,700 previously unserved homes in Franklin County, Virginia. The $32 million construction project was partly funded by the nationally recognized VATI program, administered by the Virginia Department of Housing and Community Development. Additional funding was provided through Shentel’s own capital investment and a contribution from Franklin County.

“Franklin County sincerely appreciates the partnerships and funding provided from the State of Virginia through the Virginia Telecommunications Initiative (VATI) program and the significant private investment made by Shentel to extend new high speed internet services to thousands of Franklin County residents and households,” said County Administrator Steven Sandy. “Shentel has been a valued business partner in Franklin County for many years and we were glad to have them as a partner in this very important project. Without these partnerships and funding, the availability of these services for our citizens and businesses would have taken many more years to complete.”

As a leading broadband internet provider serving smaller markets and rural communities, Shentel takes great pride in several key differentiators:

• Fast internet with exceptional reliability
• Prompt and friendly local customer service
• A full range of video and voice service options
  
  

“Expanding broadband in rural areas takes sustained effort, close coordination, and a shared commitment to seeing complex projects through to completion,” said Chris Kyle, Vice President of Regulatory & Industry Affairs at Shentel. “Working alongside Steve Sandy and his team at Franklin County as well as the Department of Housing & Community Development, we’ve completed a network expansion that brings high‑capacity internet service to thousands of homes that previously had limited or no options. This investment strengthens the county’s infrastructure and helps ensure residents, businesses, and community institutions have the connectivity they need to move forward with confidence.”

To learn more about Shentel, please visit www.shentel.com for residential service and www.shentelbusiness.com for commercial service.

About Shenandoah Telecommunications
Shenandoah Telecommunications Company (Shentel) provides broadband services through its high-speed, state-of-the-art fiber optic and cable networks to residential and commercial customers in eight contiguous states in the eastern United States. Shentel’s services include: broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services. The Company owns an extensive regional network with over 19,400 route miles of fiber. For more information, please visit www.shentel.com.

Media Contact:
Jennifer McDowell
Jennifer.McDowell@emp.shentel.com
540-984-5055

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Shentel (SHEN) announce about gigabit broadband in Franklin County on May 5, 2026?

Shentel announced completion of a VATI project bringing gigabit broadband to over 6,700 previously unserved homes. According to Shentel, the $32 million construction was funded by VATI, Shentel capital investment, and a Franklin County contribution.

How many homes did Shentel expand service to in Franklin County and what speed was offered?

Shentel expanded service to more than 6,700 homes with gigabit-speed internet. According to Shentel, the project targets households that previously had limited or no high-speed options, improving residential and business connectivity.

How was the Shentel Franklin County expansion funded and who contributed?

The $32 million project was funded partly by the Virginia Telecommunications Initiative (VATI), with additional capital from Shentel and a Franklin County contribution. According to Shentel, funding combined public and private sources to complete construction.

What impact does the Shentel broadband expansion have on Franklin County infrastructure?

The expansion adds high-capacity internet infrastructure serving residents, businesses, and institutions. According to Shentel, the network build strengthens county infrastructure and aims to reduce years-long delays in bringing service to underserved areas.

Where can residents find more information about Shentel residential and commercial services after the expansion?

Residents can learn about residential and commercial offerings on Shentel's websites for each audience. According to Shentel, visit www.shentel.com for residential service and www.shentelbusiness.com for commercial service and support.