DigitalBridge Secures Funding for WiMAX Expansion in Rural USA
Published on: 23rd Nov 2009
Note -- this news article is more than a year old.
Rural USA based WiMAX network operator, DigitalBridge Communications (DBC) has completed an additional round of equity financing, including an investment from cable and newspaper publisher Schurz Communications.
Under the terms of the investment, DigitalBridge will deploy its WiMAX network in markets currently served by Schurz Communications.
Joint commercial rollouts will be announced during 2010, with DBC engineering, constructing, and operating the broadband wireless networks and local Schurz teams promoting, selling, and supporting innovative product bundles.
"We have seen increased consumer demand and usage for broadband services from our cable operations, and our partnership with DBC will allow us to offer high-quality, high-speed, wireless broadband services to our customers and communities," said Todd Schurz, CEO of Schurz Communications. "Also, our newspapers and broadcast station brands already have millions of unique visitors, tens-of-millions of page views and deliver millions of online videos each month. We anticipate further digital growth as more mobile devices access our content and services at 4G speeds. Schurz is uniquely positioned locally, as we already have significant sales and marketing forces in place to offer this first-of-its-kind partnership." Schurz explained.
The current round of financing also includes the following Series B investors: National Rural Telecommunications Cooperative (NRTC), Paladin Capital Group, CNF Investments, and Novak Biddle Venture Partners.
Over the past three years, DBC has launched new wireless broadband service in 15 communities nationwide.