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i3 Broadband acquires iTV-3, rights to manage UC2B network

Some interesting news out of the fiber network world: i3 Broadband has acquired iTV-3, and therefore the rights to operate the UC2B fiber network in Champaign-Urbana. 

Cred goes to Gordy Hulton for the tip:

Check out the aritlce here via Yahoo!:

i3 Broadband Expands by Completing Acquisition of iTV-3, Inc. All-Fiber Network in Champaign and Urbana, Illinois

ST. LOUIS, Feb. 27, 2017 /PRNewswire/ — i3 Broadband today announced it has acquired from iTV-3, Inc. the rights to manage and operate the UC2B fiber optic network in Champaign-Urbana, Illinois.  i3 Broadband plans to aggressively expand the system to provide its “triple play” of Gigabit Internet access, television and telephone services throughout the greater Champaign and Urbana area.  i3 Broadband is wholly owned by CountryWide Broadband of St. Louis and Seaport Capital of New York.

About i3 Broadband and CountryWide Broadband, LLC
i3 Broadband is a subsidiary of CountryWide Broadband, LLC (“CWB”), providing TV, Voice and Internet services through a 100% fiber optic network in the greater Peoria, Champaign and Urbana, Illinois markets.  CWB is a broadband acquisition and management firm headed by a management team with almost 100 years of senior executive experience in national and international telecommunications companies.  Headquartered in St. Louis, Missouri, CWB is pursuing plans to acquire, consolidate and grow additional broadband properties in markets throughout the United States.

About Seaport Capital
Seaport Capital is a New York City-based private equity firm that invests in recurring revenue companies operating in the communications, information and business services sectors.  Previous Seaport portfolio companies in the Cable industry include Everest Communications, Marianas Cablevision, Otelco and Metrocast Cablevision.

About UC2B
Urbana-Champaign Big Broadband (UC2B) is a not-for-profit agency that supports the development of high speed broadband in the Urbana-Champaign area.  It is a partnership of the University of Illinois and the cities of Urbana and Champaign that was formed to bring the advantages of high-speed gigabit fiber-optic connectivity to our community.  Initially funded by a federal BTOP grant that included state and local matching funds, UC2B works with governments and private sector partners to expand services to the community and believes that high-speed connectivity promotes educational opportunities, creates positive social impacts, and is a key component to economic growth.

Although it is a few years old at this point, read more on fiber in C-U here.

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