Schurz Communications said it has completed the purchase of Vast Broadband’s network operations and customers in northwestern Iowa and the southeastern portion of South Dakota. Terms of the deal were not disclosed.
Michael McHugh and FBR Capital Markets & Co. acted as financial advisors for the transaction.
Vast Broadband’s operations adjoin existing Schurz systems in the two states, operating under the name Long Lines Broadband. The acquired properties are located in several communities including N. Sioux City, S.D. and Storm Lake, Iowa. In addition, Schurz also purchased 200 miles of fiber network infrastructure throughout the service area connecting South Dakota, Iowa and Minnesota.
“Combining Vast Broadband systems into Long Lines Broadband extensive operations will offer new products and services to residents and businesses” Schurz SVP Broadband Brian Lynch said in a statement. “We see great opportunities to grow the business in these communities.” Once the integration work is completed later this summer, former Vast customers will benefit from new all-digital video, new HD channels and new high speed internet choices on Long Lines Broadband. “
Schurz, based in Mishawaka, Ind., owns cable systems, newspapers and digital media and has a presence in eight states -- Arizona, Indiana, Iowa, Maryland, Michigan, Nebraska, Pennsylvania and South Dakota.