Shentel
{{Short description|Telecommunication company}}
{{Infobox company
| name = Shenandoah Telecommunications Company
| logo = Shentel logo.svg
| caption =
| trading_name = Shentel
| type = Public
| traded_as = {{NASDAQ|SHEN}}
S&P 600 component
Russell 2000 component
| genre =
| fate =
| predecessor =
| successor =
| foundation = {{start date and age|1902}}{{cite web|title = Shentel - Explore|url = https://www.shentel.com/explore/|website = www.shentel.com|access-date = 2016-01-22}}
| founder =
| defunct =
| location_city = Edinburg, Virginia
| location_country = U.S.
| area_served =
| key_people =
| industry = Telecommunications
| products =
| services = Local and long-distance telephone service, cable television, Internet access, wireless Internet access, digital phone, fiber-optic Internet, wholesale
| revenue = {{Increase}} $612 million (2017){{cite web|url=https://www.shentel.com/news/2018/march/q4%20and%20year%20end%20results|title=2017 annual report|author=|date=March 15, 2018|website=www.sec.gov|publisher=Shenandoah Telecommunications Company |access-date=April 7, 2018}}
| operating_income = {{Increase}} $46.5 million (2017)
| net_income = {{Decrease}} $-6.995 million (2016)
| aum =
| assets =
| equity =
| owner =
| num_employees = 1200 {{cite web|url=https://finance.yahoo.com/quote/SHEN/profile?p=SHEN |title=SHEN Profile | Shenandoah Telecommunications C Stock - Yahoo Finance |publisher=Finance.yahoo.com |access-date=2017-07-07}}
| parent =
| divisions =
| subsid =
| homepage = {{URL|http://shentel.com}}
| footnotes =
| intl =
}}
Shenandoah Telecommunications Company, doing business as Shentel, is a publicly traded telecommunications company headquartered in Edinburg, Virginia. It operates a digital wireless and wireline network in rural Virginia, West Virginia, Maryland and Pennsylvania.{{cite web|title = Shentel - History|url = https://www.shentel.com/shentel/history|website = www.shentel.com|access-date = 2016-01-22}}
History
Shentel was founded in January 1902 as the Farmers' Mutual Telephone System of Shenandoah County (FMTS).{{cite news |title=Copy for the Governor |newspaper=The Richmond Dispatch |location=Richmond, VA |date=January 13, 1902 |page=3 |quote=A great many telephone charters are coming in to the office of the Secretary of the Commonwealth to be recorded….received yesterday…Farmers’ Mutual Telephone System of Shenandoah County. }} This was one of a number of Farmers' Mutual telephone systems established in rural areas of the United States. The company's initial goal was to bring telephone service to rural residents of Shenandoah County, VA.{{cite web|url=https://www.facebook.com/150670652135/posts/10151692141877136/ |title=Shentel Facebook page - Company Milestones |publisher=www.facebook.com |access-date=2017-11-08}} In 1960 the name changed to Shenandoah Telephone Company, then in 1981 to Shenandoah Telecommunications Company (Shentel).
The company launched cable TV service and a fiber optic network in the 1980s. In 1984 Shentel added mobile and paging services. In 1990 Shentel launched Shenandoah Cellular, the first company in Virginia to offer cellular service to a rural area. Internet service was made available to Shentel customers in 1994.
In the 2000s Shentel began to expand its cable footprint - purchasing cable assets from Rapid Communications in Virginia and West Virginia in 2008,{{cite web|url=http://investor.shentel.com/releasedetail.cfm?ReleaseID=340694 |title=Shenandoah Telecommunications Company to Acquire Cable Assets in Virginia and West Virginia |publisher=www.shentel.com |date=2008-08-06 |access-date=2017-11-08}} and acquiring JetBroadband in southern Virginia and southern West Virginia in 2010.{{cite web|url=https://www.shentel.com/news/2010/august/acquisitionofjetbroadband |title=Shentel Completes Acquisition of JetBroadband |publisher=www.shentel.com |date=2010-08-09 |access-date=2017-11-08}} Later in 2010, Shentel purchased two small cable systems from Suddenlink Communications (one in West Virginia, the other in Maryland).{{cite web|url=http://investor.shentel.com/releasedetail.cfm?ReleaseID=534009 |title=Shenandoah Telecommunications Closes on Cable Acquisition |publisher=www.shentel.com |date=2010-12-01 |access-date=2017-11-08}}
In May 2016, Shentel finished acquiring its competitor Ntelos{{cite web|url=http://www.whsv.com/content/news/What-you-need-to-know-about-the-Shentel-Ntelos-merger--378677741.html |title=What you need to know about the Shentel, Ntelos merger |publisher=Whsv.com |access-date=2017-07-07}} for 640 million dollars.{{cite web|url=http://www.fiercewireless.com/story/sprint-affiliate-shentel-buys-fellow-wholesale-partner-ntelos-640m/2015-08-10 |title=Sprint affiliate Shentel buys fellow wholesale partner nTelos for $640M |publisher=FierceWireless |access-date=2017-07-07}} acquiring 297,500 subscribers. The deal also transferred an additional 291,000 subscribers from Sprint in exchange for Ntelos spectrum,{{cite web|last=Petska |first=Alicia |url=http://www.roanoke.com/news/virginia/shentel-completes-acquisition-of-ntelos/article_7e4a5881-f905-5263-9365-d03587b8ed22.html |title=Shentel completes acquisition of Ntelos | Virginia |publisher=roanoke.com |access-date=2017-07-07}}{{cite web|url=http://newsroom.sprint.com/news-releases/sprint-and-shentel-to-expand-affiliate-territory-to-cover-former-ntelos-area.htm |title=Sprint and Shentel to Expand Affiliate Territory to Cover Former nTelos Area | Sprint Newsroom |publisher=Newsroom.sprint.com |access-date=2017-07-07}} making Shentel the sixth largest public wireless company in the United States.
In February 2019, Shentel announced the agreement to purchase Big Shandy Broadband, a Kentucky-based cable television, broadband Internet and phone provider.{{Cite web|url=https://www.virginiabusiness.com/article/shentel-to-acquire-eastern-kentucky-telcom-firm/|title=Shentel to acquire Eastern Kentucky telcom firm|date=2019-02-28|website=Virginia Business|language=en-US|access-date=2020-03-24}}
On August 27, 2020, T-Mobile USA decided to purchase the wireless assets of the company.{{Cite web|url=https://www.fiercewireless.com/operators/t-mobile-to-buy-shentel-wireless-assets-but-price-remains-sticking-point|title = T-Mobile to buy Shentel wireless assets but price remains sticking point|date = 27 August 2020}}
In October 2023, Shentel announced their acquisition of The Chillicothe Telephone Company (dba Horizon Telcom) and its assets; thus expanding their "Glo Fiber" branded fiber network into the South-Eastern Ohio area. {{Cite news |date=October 24, 2023 |title=Shenandoah Telecommunications Company to Acquire Horizon Telcom |url=https://investor.shentel.com/news-releases/news-release-details/shenandoah-telecommunications-company-acquire-horizon-telcom |publisher=Shenandoah Telecommunications Co}}
In March 2024, Shentel agreed to the sale of its cell tower portfolio to Vertical Bridge, reportedly the largest private owner of communications towers in the US, for $310.3 million in cash.{{cite web | url=https://www.virginiabusiness.com/article/shentel-to-sell-cell-towers-portfolio-for-310-3m/| title=Shentel to sell cell towers portfolio for $310.3M |author=Katherine Schulte| website=Virginia Business| publisher=|date=2024-03-01|access-date=2024-08-21}}
References
{{Reflist}}{{US mobile network operators}}
{{Internet service providers of the United States}}
{{CATV USA}}
Category:Companies based in Virginia
Category:Companies listed on the Nasdaq
Category:Telecommunications companies established in 1902
Category:Telecommunications companies of the United States
Category:1902 establishments in Virginia
{{Wireless-stub}}
{{Telecom-company-stub}}