Cable Technology Feature Article
August 05, 2009
Yonder Media to Acquire SureWest's Fixed Wireless Internet Access Business Unit
By Anshu Shrivastava, TMCnet Contributor
SureWest Communications, an independent communications holding company, has announced that it entered into an agreement to sell its fixed wireless Internet access business unit to Yonder Media.
SureWest (News - Alert) plans to use the net proceeds from the transaction to focus on the growth of its core Broadband segment. Steve Oldham, president and CEO at SureWest, said that the net proceeds from the sale, and also the resulting new business relationship, will continue to improve company’s financial flexibility as it enhances broadband triple-play offerings.
“The sale of our fixed wireless Internet assets is an appropriate move for the company as we continue to execute on our plan to divest non-core assets from the business and focus on providing the most advanced telephone, Internet and television services, and an outstanding customer experience,” he added.
Reno, Nevada-based Yonder Media is a services provider exclusively committed to enriching the lives of rural Americans through wide reaching and broadband services.
“Yonder Media is an excellent fit for our customers, matching them with a company that is equally committed to superior customer service as our customers have become accustomed to with SureWest,” said Oldham.
Craig Vallarino, CEO at Yonder Media, also said that the addition of SureWest's wireless rural broadband customers located in the heart of California builds on Yonder Media's commitment to growth through selective acquisition.
“This marks another key milestone as we expand our reach and become the provider of choice for connecting rural communities to the Internet,” Vallarino said.
Yonder Media and SureWest have also developed a long-term business relationship as a result of the sale of the fixed wireless Internet assets. This business relationship is expected to create recurring monthly Broadband Business revenue for SureWest.
This latest transaction follows SureWest’s strategy of divesting non-core assets, which includes the sale of its Wireless business and Wireless Towers in 2008 and the sale of its Directory Publishing business in 2007.
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Anshu Shrivastava is a contributing editor for TMCnet. To read more of Anshu’s articles, please visit her columnist page.
Edited by Stefania Viscusi