Rural Broadband Investments of Overland Park has bought the cable system that caters to the residents in Poplar Bluff, Missouri, according to The Kansas City Star. The financial terms of the acquisition deal were not disclosed in the said report.
Poplar Bluff Mayor Ed DeGaris explained: "The city...has a golden opportunity to provide enhanced cable and internet services to its citizens through the sale of our system to a quality provider."
Launched in 2011, the Poplar Bluff cable system has recently experienced difficulty in providing an affordable service that runs at par with the current modern technology. The firm's cable and Internet services are distributed across the city using high-speed broadband systems such as NewWave Communications, the report detailed.
Rural Broadband was established in 2012 as a company that makes investments focused on rural cable systems catering to the residential and commercial markets. It currently has a customer base comprised of 300,000 to 400,000 subscribers. The firm also serves 150,000 clients across Illinois, Indiana, Arkansas, Louisiana, Missouri, Mississippi, Nevada, and Texas, The Kansas City Star reported.
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