Shentel expands gigabit broadband to over 6,700 homes in Franklin County, funded by VATI and local investments.
Quiver AI Summary
Shenandoah Telecommunications Company (Shentel) announced the successful completion of its Virginia Telecommunications Initiative (VATI) project, which has extended gigabit broadband service to over 6,700 previously unserved homes in Franklin County, Virginia. The $32 million project was partially funded by the Virginia Department of Housing and Community Development, along with contributions from Shentel and Franklin County. County Administrator Steven Sandy emphasized the importance of the partnerships and funding that made this project possible, noting that it significantly reduces the time required to improve internet access for residents. Shentel's Vice President of Regulatory & Industry Affairs, Chris Kyle, highlighted the collaborative efforts involved in this initiative, which is vital for enhancing the connectivity and infrastructure of the county, thereby supporting residents and businesses alike.
Potential Positives
- Completion of the VATI project expands gigabit broadband internet service to over 6,700 previously unserved homes, significantly enhancing connectivity in Franklin County, Virginia.
- The project was partly funded by a nationally recognized program, demonstrating Shentel's ability to leverage public funding for infrastructure improvements.
- This investment strengthens Shentel's reputation as a leading broadband provider committed to serving rural communities, contributing to long-term customer loyalty and market presence.
- Partnership with Franklin County and state agencies highlights Shentel's collaborative approach, fostering goodwill and positive community relations.
Potential Negatives
- None
FAQ
What is the Virginia Telecommunications Initiative (VATI)?
The VATI is a program administered by the Virginia Department of Housing and Community Development that funds broadband expansion projects.
How many homes will benefit from the Shentel project in Franklin County?
The project will provide gigabit broadband service to over 6,700 previously unserved homes in Franklin County, Virginia.
What was the total investment for the broadband expansion project?
The total investment for the Shentel broadband expansion project was $32 million, including private and public funding sources.
How does Shentel enhance broadband access in rural areas?
Shentel enhances broadband access through strong partnerships, capital investment, and dedicated efforts to complete complex expansion projects.
Where can I find more information about Shentel's services?
You can learn more about Shentel's residential and commercial services at www.shentel.com and www.shentelbusiness.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SHEN Revenue
$SHEN had revenues of $92.2M in Q1 2026. This is an increase of 4.84% from the same period in the prior year.
You can track SHEN financials on Quiver Quantitative's SHEN stock page.
$SHEN Hedge Fund Activity
We have seen 55 institutional investors add shares of $SHEN stock to their portfolio, and 90 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MILLENNIUM MANAGEMENT LLC added 997,882 shares (+1116.6%) to their portfolio in Q4 2025, for an estimated $11,535,515
- VANGUARD GROUP INC removed 962,426 shares (-21.9%) from their portfolio in Q4 2025, for an estimated $11,125,644
- SOUTHEASTERN ASSET MANAGEMENT INC/TN/ added 492,056 shares (+20.1%) to their portfolio in Q4 2025, for an estimated $5,688,167
- WHITEBARK INVESTORS LP added 423,063 shares (+inf%) to their portfolio in Q4 2025, for an estimated $4,890,608
- UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 407,102 shares (-76.0%) from their portfolio in Q4 2025, for an estimated $4,706,099
- FMR LLC added 174,631 shares (+152.2%) to their portfolio in Q4 2025, for an estimated $2,018,734
- BANK OF NEW YORK MELLON CORP removed 168,596 shares (-37.8%) from their portfolio in Q4 2025, for an estimated $1,948,969
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.
Full Release
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
[email protected]
540-984-5055
