Shentel Completes the Expansion of Gigabit Broadband Service in Bedford County

Shentel (Nasdaq: SHEN) completed a $24 million construction project to expand gigabit broadband to more than 4,900 previously unserved homes in Bedford County, Virginia.

Rhea-AI Summary

Shentel (Nasdaq: SHEN) completed a $24 million construction project to expand gigabit broadband to more than 4,900 previously unserved homes in Bedford County, Virginia. The build was partly funded by the Virginia Telecommunications Initiative (VATI), with additional funding from Shentel capital and Bedford County.

The project delivers gigabit-capable service, aims to improve connectivity for residents and businesses, and reflects a public-private partnership with state and local support.

Positive

• Expanded gigabit service to >4,900 previously unserved homes
• Completed a $24 million construction project
• Project partly funded by the Virginia Telecommunications Initiative
• Local government contribution from Bedford County

Negative

• None.

Argus Mar 3 session

+3.25% close to close Open Argus

Details

News Market Reaction – SHEN

On Mar 3, the day this news came out, SHEN closed 3.25% above the previous close.

Data tracked by StockTitan Argus for the Mar 3 session.

Key Figures

Homes passed: more than 4,900 homes Project cost: $24 million

Homes passed

more than 4,900 homes

Previously unserved homes in Bedford County VATI project

Project cost

$24 million

Construction cost for Bedford County VATI broadband expansion

Historical Context

5 past events · Latest: Feb 26

5 events

1. Feb 26

   Earnings results

   24h Move

   +3.0%

   Reported 2025 revenue and Adjusted EBITDA growth with 2026 guidance and refinancing.

2. Feb 18

   Investor conferences

   24h Move

   +1.8%

   Announced CEO and CFO participation in multiple March 2026 investor conferences.

3. Feb 18

   Community initiative

   24h Move

   +1.3%

   Detailed employee volunteer hours and charitable donations across several states.

4. Feb 05

   Earnings call notice

   24h Move

   +0.5%

   Scheduled Q4 and full‑year 2025 earnings release and conference call details.

5. Jan 13

   Product launch

   24h Move

   -0.1%

   Launched 8‑gig fiber internet service across multiple states via Glo Fiber.

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

Key Terms

gigabit broadband

1 terms

gigabit broadband technical

"project to expand gigabit broadband internet service to more than 4,900 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.

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

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EDINBURG, Va., March 03, 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 4,900 previously unserved homes in Bedford County, Virginia. The $24 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 Bedford County.

“We applaud Shentel for its expansive work to bring high-speed internet access to Bedford County. Their professionalism and strong partnership have been instrumental in advancing the Board of Supervisors’ goal of universal broadband coverage. As a result, residents and businesses in these project areas are better positioned to succeed,” said County Administrator Robert Hiss.

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
• Easy, straight-forward pricing with no long-term contracts
• Prompt and friendly local customer service
• A full range of video and voice service options

“The completion of this VATI project in Bedford County is a powerful example of what can be achieved when the Commonwealth, local governments, and private providers work together toward a shared goal,” said Chris Kyle, Vice President of Regulatory & Industry Affairs at Shentel. “Through our partnership with the Virginia Department of Housing and Community Development and Bedford County, we are delivering reliable, gigabit‑capable broadband to thousands of rural households that previously had little or no access. This investment will support economic growth, enhance educational opportunities, and ensure residents can fully participate in today’s digital economy—no matter where they live.”

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 19,000 route miles of fiber. For more information, please visit www.shentel.com.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6ab14cef-374c-4888-96c6-0e629808ac40

FAQ

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

How many homes did Shentel (SHEN) connect in the Bedford County VATI completion on March 3, 2026?

Shentel connected more than 4,900 previously unserved homes in Bedford County. According to the company, this completion delivers gigabit-capable broadband to thousands of rural households that previously had little or no access.

What was the cost and funding mix for Shentel's (SHEN) Bedford County broadband expansion?

The construction cost was $24 million, funded partly by the VATI program. According to the company, additional funding came from Shentel's own capital investment and a contribution from Bedford County.

What services will residents receive from Shentel (SHEN) after the Bedford County VATI project completion?

Residents will have access to gigabit-capable broadband, video, and voice options. According to the company, offerings include fast, reliable internet, straightforward pricing without long-term contracts, and local customer support.

How does Shentel (SHEN) describe the impact of the Bedford County broadband expansion?

Shentel says the project will support economic growth and educational opportunities in rural areas. According to the company, the public-private partnership helps residents and businesses better participate in the digital economy.

Where can customers find residential and commercial service information for Shentel (SHEN) after the Bedford County rollout?

Residential service information is available at www.shentel.com and commercial at www.shentelbusiness.com. According to the company, both sites provide service details, availability maps, and contact options for new connections.