ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Consolidated Communications Wins Nearly $17 Million to Expand Fiber Internet in Maine

Maine Connectivity Authority grants will help bring reliable, symmetrical fiber internet to 15,800 homes across 15 rural Maine communities

Consolidated Communications (NASDAQ: CNSL) a leading Fiber-to-the-Home (FttH) provider, will bring its multi-gig internet service, Fidium to more than 15,800 homes and businesses in rural Maine, funded in part with two grants totaling nearly $17 million from Maine Connectivity Authority (MCA).

“We’re thrilled to be working collaboratively with rural communities throughout Maine to close the rural digital divide,” said Sarah Davis, vice president of government affairs at Consolidated. “Maine Connectivity Authority is doing incredible work in empowering communities and providers to find solutions that bring reliable, high-speed internet to consumers and small businesses.”

Consolidated partnered with the towns of Skowhegan, Madison, Cornville and Canaan to apply for MCA’s Connect the Ready grant program. The program encourages proactive partnerships and collaborative efforts to design, fund and build universal broadband service to mostly underserved and unserved communities in Maine. The grant awarded will provide $8.8 million to aid in reaching 12,500 homes.

“We are thankful that Consolidated Communications asked us to partner with them on this broadband expansion project and that our application was successful in obtaining the largest grant from Maine Connectivity Authority’s Connect the Ready Program,” said Christine Almand, town manager for Skowhegan. “This project will provide the opportunity for a fiber connection to every residence and business in the Town of Skowhegan. Although the Town has been discussing our needs for high-speed, reliable internet access for more than a decade, those needs became much more apparent at the onset of the pandemic. This project will improve the lives of our citizens socially and economically.”

MCA’s Reach Me line extension grant program incentivizes providers to extend their existing fiber network to all unserved locations in the area. Consolidated worked with the Greater East Grand Region Economic Council and was awarded $8.1 million in funding to extend FttH internet service to 3,300 homes and small businesses in Bancroft, Brookton, Danforth, Drew Plantation, Glenwood Plantation, Haynesville, Forest, Forest City, Orient, Reed Plantation, and Weston, Maine.

“Every economic and community development strategy in Greater East Grand region depends on having access to high-speed broadband,” said Sarah Strickland, interim director Greater East Grand Economic Council. “This investment through Consolidated is a game changer for the people of this region, and all 11 communities are thrilled.”

Consolidated is bringing reliable, fiber broadband services to rural Maine, and to date has brought fiber internet to 147,000 homes and small businesses since 2021. In addition to these recent awards, Consolidated and MCA also collaborated on an $18.3 million grant from NTIA to build FttH to more than 22,000 homes and businesses in the Blue Hill Peninsula, the Rangeley area and the town of Farmington. Those projects are scheduled to be completed by spring 2023.

About Consolidated Communications

Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) is dedicated to moving people, businesses and communities forward by delivering the most reliable fiber communications solutions. Consumers, businesses and wireless and wireline carriers depend on Consolidated for a wide range of high-speed internet, data, phone, security, cloud and wholesale carrier solutions. With a network spanning more than 57,500 fiber route miles, Consolidated is a top 10 U.S. fiber provider, turning technology into solutions that are backed by exceptional customer support. Learn more at consolidated.com. Connect with us on social media.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.