Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) revealed that it has agreed to sell its Ohio assets to Middle Point Home Telephone Co. (MPH), an affiliate of Hanson Communications, Inc.
Financial terms of the deal, which Consolidated expects to close once the customary regulatory approvals are acquired by the end of the year, were not disclosed. However, the company promises more information during its third quarter 2021 earnings call.
The Ohio operations contributed approximately $9 million of revenue in fiscal 2020 and includes approximately 4,000 access lines and 3,900 Internet connections. Nevertheless, Consolidated said the sale will align with the company’s strategic asset review and will enable the company to focus on its core broadband regions.
Hanson Communications, Inc. is a family-owned telecommunications business founded in 1951 and headquartered in Minnesota. It operates more than 10,000 access lines, 15,000 internet connections, and 5,500 TV connections in rural parts of the Midwest through a variety of subsidiary companies.
“Our family is very excited to enter into this agreement and expand our Ohio service area,” said Bruce Hanson, treasurer and owner of Hanson Communications. “We look forward to serving these customers and expect a seamless transition upon closing.”
MPH is based in Middle Point, OH; it doesn't have a website.