Shentel Expands High-Speed, Reliable Broadband Service in Shenandoah County

Rhea-AI Summary

Shenandoah Telecommunications Company (SHEN) has expanded its high-speed gigabit internet service to approximately 5,000 additional homes in Shenandoah County, with plans to add over 2,000 more by year-end. The $47 million construction project is partially funded through Virginia's Telecommunication Initiative (VATI), alongside Shentel's capital investment and Shenandoah County's contribution.

The expansion focuses on bringing broadband infrastructure to rural areas, including Fort Valley, to enhance education, economic growth, and healthcare opportunities. The project addresses challenges of higher costs in rural areas due to lower population density and extensive distances between homes. Shentel offers fast internet with exceptional reliability, straightforward pricing without long-term contracts, local customer service, and various video and voice service options.

Positive

• Secured partial government funding through VATI grant for rural expansion
• Added 5,000 new homes to service area with 2,000 more planned in 2024
• $47 million infrastructure investment expanding market presence
• Strong local government partnership supporting expansion

Negative

• High construction costs due to rural area challenges
• Lower population density affecting potential revenue per infrastructure investment

News Market Reaction – SHEN

+3.57%

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+3.57% News Effect

On the day this news was published, SHEN gained 3.57%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

EDINBURG, Va., Feb. 13, 2025 /PRNewswire/ -- Shenandoah Telecommunications Company ("Shentel") (Nasdaq: SHEN), a leading provider of broadband services, recently extended high-speed, gigabit internet service to approximately 5,000 additional homes in Shenandoah County and plans to add over 2,000 more by the end of the year. This $47 million construction project is partly funded by the Commonwealth of Virginia's nationally recognized Virginia Telecommunication Initiative (VATI). The rest of the funding comes from Shentel's own capital investment and a significant contribution from Shenandoah County.  The goal of the VATI initiative is to create strong, competitive communities by expanding broadband infrastructure into rural areas that lack access to high-speed internet.

"Shenandoah County is thrilled with the progress of its partnership with Shentel and the Virginia Department of Housing and Community Development through the VATI grant," said Doug Culler, Director of Network Services for Shenandoah County. "This partnership has brought high-speed broadband to the most rural parts of the County, including Fort Valley. This crucial upgrade opens doors to greater opportunities in education, economic growth, healthcare, and an improved quality of life for residents. It creates a more connected rural landscape, ensuring that residents have access to essential resources and opportunities."

"Shenandoah County has been fortunate to have such a partner as Shentel to help expand broadband accessibility to the most rural parts of our county. This commitment to Shenandoah County has not wavered since the company was founded in 1902. Their willingness to invest in making certain the majority of the communities in our county are served with modern services will not only have a significant impact on our citizens today, but for generations who will call Shenandoah County home in the future", said Josh Stephens, Chairman of the Shenandoah County Board of Supervisors.

"These rural broadband projects are particularly challenging to build due to the higher costs associated with lower population density and extensive distances between homes. With the help of these grants and excellent leadership from the Virginia Office of Broadband and Shenandoah County, we are making a difference in people's lives," said Chris Kyle, Vice President of Industry Affairs and Regulatory at Shentel.  "We appreciate the support of the Shenandoah County Board of Supervisors in choosing to partner with Shentel on this initiative."

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

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 16,300 route miles of fiber. For more information, please visit www.shentel.com.

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SOURCE Shenandoah Telecommunications Company

FAQ

How many new homes will Shentel's broadband expansion reach in Shenandoah County?

Shentel's expansion will reach approximately 5,000 additional homes initially, with plans to add over 2,000 more homes by the end of the year.

What is the total investment for SHEN's Shenandoah County broadband expansion project?

The total construction project investment is $47 million, funded through a combination of VATI grants, Shentel's capital investment, and Shenandoah County contributions.

Which areas in Shenandoah County will benefit from Shentel's (SHEN) broadband expansion?

The expansion primarily benefits rural areas of Shenandoah County, including Fort Valley, focusing on previously underserved locations.

What are the key features of Shentel's (SHEN) broadband service offering?

Shentel offers gigabit internet service with exceptional reliability, straightforward pricing without long-term contracts, local customer service, and various video and voice service options.