Source: LICT Press Release

Giant Communications, Inc. which operates as a Competitive Local Exchange Carrier headquartered in Holton, KS has acquired Giant Communications, L.L.C. (“Giant Cable”) from its parent company, CIBL, Inc. (“CIBL”).

Giant Cable is a cable communications company providing cable television, broadband and voice telephone services to approximately 1,800 customers in rural communities throughout southeastern Kansas. The purchase price was $2.1 million and the transaction closed on May 20, 2010.

The operations of Giant Cable will complement the CLEC business of GiantCommunications, Inc., as well as LICT’s Rural Local Exchange Carrier (“RLEC”) operation conducted by its J.B.N. Telephone Company subsidiary in southeastern Kansas. Giant Cable had previously been owned by a subsidiary of LICT, and was spun off from LICT as part of the CIBL spin-off in November 2007. 

Source: Shentel Press Release

Shenandoah Telecommunications Company (NASDAQ:SHEN) announced that it has signed an asset purchase agreement to acquire certain cable assets serving customers in Virginia and West Virginia from Rapid Communications. The purchase includes approximately 17,650 customers located in 50 franchise areas primarily clustered around Covington, Virginia; Summersville, West Virginia; and Weston, West Virginia.

Shentel's plans include a major consolidation and upgrade of the cable networks over the next few years to be able to offer its customers in smaller communities expanded triple play services including High Definition TV, Video on Demand, High Speed Internet and Voice. The sale is subject to regulatory approvals and is expected to close prior to the end of 2008. RBC Daniels was Shentel's advisor for the transaction.