Consolidated Communications (NASDAQ: CNSL) on Sept. 24 announced its entry into an agreement to sell its Ohio assets to Middle Point Home Telephone Company (MPH), an affiliate of Hanson Communications, Inc.
Consolidated says the asset sale aligns with the company’s strategic asset review, and focus on its core broadband regions.
Consolidated’s Ohio operations contributed approximately $9 million of revenue in fiscal 2020 and includes approximately 4,000 access lines and 3,900 Internet connections.
The closing on the sale agreement is subject to customary regulatory approvals, which are expected to be completed by the end of the year. Consolidated said it will provide more information on this divestiture during its third quarter 2021 earnings call.
“Our family is very excited to enter into this agreement and expand our Ohio service area,” said Bruce Hanson, treasurer and owner of family-owned Hanson Communications. “We look forward to serving these customers and expect a seamless transition upon closing.”
Notably this past June, U.S. broadband provider WOW! Internet, Cable & Phone announced its entry into a definitive agreement to sell its Cleveland and Columbus, Ohio service areas for $1.125 billion to Cogeco Communications subsidiary Atlantic Broadband.