Shentel plans to acquire Blacksburg Broadband LLC to expand Glo Fiber service in Blacksburg, Virginia.
Quiver AI Summary
Shenandoah Telecommunications Company (Shentel) has announced its plans to expand Glo Fiber service in Blacksburg, Virginia, by acquiring the assets of Blacksburg Broadband LLC, also known as WideOpen Blacksburg. The acquisition is expected to be finalized by early to mid-July, with WideOpen Blacksburg's President expressing confidence in Glo Fiber's ability to deliver excellent customer service and high-speed internet. Shentel's Chief Operating Officer emphasized the investment in expanding the existing fiber network, which offers residential and commercial customers symmetrical broadband speeds of up to 5 Gbps. Glo Fiber, recognized for its dependable service and customer support, also provides phone, video, and Whole Home Wi-Fi services. With a significant presence in multiple states, Shentel continues to enhance its offerings to both urban and rural communities.
Potential Positives
- Shentel is expanding its Glo Fiber service into Blacksburg, Virginia, which demonstrates growth and investment in new markets.
- The acquisition of WideOpen Blacksburg enhances Shentel's fiber network, allowing for improved broadband service with gigabit speeds.
- The press release highlights the company's commitment to customer service, which may strengthen customer loyalty and attract new subscribers.
- Shentel's Glo Fiber offers competitive advantages such as 100% fiber-to-the-home technology and straightforward pricing, potentially increasing market share in the region.
Potential Negatives
- The acquisition of WideOpen Blacksburg may indicate that Shentel is struggling to grow its Glo Fiber service organically and is relying on acquisitions to expand its market presence.
- There is no detailed information on how this acquisition will financially affect Shentel, raising concerns about possible debt or investment strain associated with the deal.
- Despite the optimistic statements made by company officials, there is no assurance provided regarding the operational integration of WideOpen Blacksburg’s assets, which could result in service disruptions or customer dissatisfaction during the transition.
FAQ
What is Glo Fiber's expansion in Blacksburg, Virginia?
Glo Fiber is expanding its service in Blacksburg by acquiring Blacksburg Broadband LLC, enhancing its broadband offerings in the area.
When will the acquisition of WideOpen Blacksburg be completed?
The acquisition is expected to be completed by early to mid-July 2025.
What speeds does Glo Fiber offer?
Glo Fiber provides symmetrical upload and download speeds of up to 5 Gbps for its customers.
What services does Glo Fiber provide besides internet?
In addition to high-speed internet, Glo Fiber offers phone service, video service, and Whole Home Wi-Fi solutions.
How is Glo Fiber different from other providers?
Glo Fiber is known for its 100% fiber-to-the-home technology, exceptional reliability, and strong local customer service.
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 Insider Trading Activity
$SHEN insiders have traded $SHEN stock on the open market 31 times in the past 6 months. Of those trades, 31 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $SHEN stock by insiders over the last 6 months:
- CONTROLCO, LLC ECP has made 14 purchases buying 261,987 shares for an estimated $3,352,663 and 0 sales.
- FIBER HOLDINGS GP, LLC ECP has made 14 purchases buying 261,987 shares for an estimated $3,352,663 and 0 sales.
- CHRISTOPHER E FRENCH (President & CEO) has made 2 purchases buying 16,500 shares for an estimated $198,167 and 0 sales.
- GLENN E JR LYTLE (SVP Commercial Sales) purchased 500 shares for an estimated $4,985
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SHEN Hedge Fund Activity
We have seen 74 institutional investors add shares of $SHEN stock to their portfolio, and 84 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC removed 1,015,269 shares (-18.4%) from their portfolio in Q1 2025, for an estimated $12,761,931
- SOUTHEASTERN ASSET MANAGEMENT INC/TN/ added 909,818 shares (+inf%) to their portfolio in Q1 2025, for an estimated $11,436,412
- KENT LAKE PR LLC removed 344,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $4,337,840
- BLACKROCK, INC. removed 250,097 shares (-3.5%) from their portfolio in Q1 2025, for an estimated $3,143,719
- NORGES BANK removed 219,708 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $2,770,517
- HRT FINANCIAL LP added 157,676 shares (+908.1%) to their portfolio in Q1 2025, for an estimated $1,981,987
- MILLENNIUM MANAGEMENT LLC added 146,221 shares (+48.3%) to their portfolio in Q1 2025, for an estimated $1,837,997
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
EDINBURG, Va., June 20, 2025 (GLOBE NEWSWIRE) -- Shenandoah Telecommunications Company (“Shentel”, Nasdaq: SHEN) announced plans to expand Glo Fiber service in Blacksburg, Virginia with a definitive agreement to acquire the assets and operations of Blacksburg Broadband LLC, which operates under the name WideOpen Blacksburg. The acquisition is anticipated to be complete by early to mid-July.
WideOpen Blacksburg’s President, Dr. Andrew Cohill, stated, “I am confident that Glo Fiber is going to provide outstanding customer service and great fiber-delivered Internet to our customers. We anticipate a smooth transition to Glo Fiber starting in July.”
“We are excited to invest in and build upon the outstanding broadband service that the WideOpen Blacksburg team has been providing since 2017. WideOpen Blacksburg’s gigabit fiber network is a perfect fit to further expand our Glo Fiber service in the Blacksburg area,” stated Ed McKay, Shentel’s Chief Operating Officer.
Glo Fiber, powered by Shentel, provides 100% fiber broadband services to residential and commercial customers with super-fast, symmetrical upload and download speeds of up to 5 gigabits per second (Gbps). Fiber-to-the-home technology and Shentel’s 17,200-mile regional fiber network enable Glo Fiber to deliver high speeds, low latency, and unparalleled internet reliability. The company has earned a reputation for providing superior local customer service across its markets, including the growing list of communities in Virginia, West Virginia, Pennsylvania, Maryland, Ohio and Delaware. In addition to high-speed internet, Glo Fiber offers phone service, video service, and Whole Home Wi-Fi for a seamless connection anywhere in your home or business.
As a leading broadband internet provider serving smaller markets and rural communities, Glo Fiber takes great pride in several key competitive differentiators:
- 100% fiber-to-the-home technology with exceptional reliability
- Symmetrical download and upload speeds of up to 5 Gbps
- Easy, straight-forward pricing with no long-term contracts
- Prompt, local customer service
To learn more about Glo Fiber, please visit www.glofiber.com/en/local/va/blacksburg for residential service and www.glofiberbusiness.com for commercial service.
About Glo Fiber
Glo Fiber provides next-generation fiber-to-the-home (FTTH) multi-gigabit broadband internet access, live streaming TV, and digital phone service powered by Shentel (Nasdaq: SHEN). With services now available to approximately 363,000 homes and businesses, Glo Fiber offers reliable, symmetrical broadband service using state-of-the-art technology, including XGS-PON 10 Gbps networks.
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 17,200 route miles of fiber. For more information, please visit
www.shentel.com
.
Media Contact:
Jennifer McDowell
[email protected]
540-984-5055
