Press Release

Race Communications secured more than $500 million in additional capital to accelerate the expansion of its fiber network across the state. This capital raise includes $375 million in equity from Oak Hill Capital, the existing majority investor, and its limited partners. The funding also features incremental debt financing from existing lender AB Private Credit Investors, who will also be participating in the equity round.

The U.S.

The Department of Commerce’s National Telecommunications and Information Administration (NTIA) has approved New Jersey’s Initial Proposal for the Broadband Equity, Access, and Deployment (BEAD) program, a cornerstone of the Biden-Harris Administration’s “Internet for All” initiative.  The BEAD program is a $42.45 billion state grant program authorized by President Biden’s Bipartisan Infrastructure Law. New Jersey was allocated over $263 million to deploy or upgrade high-speed Internet networks to ensure that everyone has access to reliable, affordable, high-speed Internet service.  

Kinetic and AT&T are teaming up to combine the unparalleled strength of AT&T’s fast, reliable and secure 5G network with the exceptional 99.9 percent network reliability of Kinetic High-Speed Internet. This collaboration for customers in Kinetic’s extensive 18-state footprint offers a significant increase in customer experience. And with AT&T Wireless, customers will be able to choose between a wide range of smartphones and wireless plans to meet their needs.

Federal Communications Commission Chairwoman Jessica Rosenworcel announced that the items below are tentatively on the agenda for the September Open Commission Meeting scheduled for Thursday, September 26, 2024: 

Verizon and Frontier Communications announced they have entered into a definitive agreement for Verizon to acquire Frontier in an all-cash transaction valued at $20 billion. This strategic acquisition of the largest pure-play fiber internet provider in the U.S. will significantly expand Verizon's fiber footprint across the nation, accelerating the company’s delivery of premium mobility and broadband services to current and new customers.

NTCA–The Rural Broadband Association is releasing the results of a survey it conducted of members on how the potential disruption of Universal Service Fund (USF) support could affect rural consumers, broadband investment in rural America, and the viability of existing rural broadband networks. The survey was conducted in August 2024 following a July decision finding the system for contributions to the federal USF unconstitutional and remanding the matter to the Federal Communications Commission. Significant findings include: 

Reps August Pfluger (R-TX) and Debbie Dingell (D-MI) introduced the PROTOCOL Act, which improves the mapping process for broadband funding and enhances interagency coordination when awarding broadband funding grants. There are currently over 130 federal broadband programs across 15 different agencies with little coordination on the billions of dollars being spent. This lack of coordination has led to waste, fraud, and abuse in these programs and risks leaving unserved communities without access to basic broadband services. Specifically, this legislation would:

Cambium Networks announced a strategic collaboration with QUILT, NODE Networks, TMA Technology Solutions, and ComEd to enhance digital equity in underserved communities across Chicago as part of QUILT’s Broadband Access for Brighter Futures Program.

MCNC will host a groundbreaking ceremony at Central Carolina Community College (CCCC) on Thursday, Sept. 5, to signify the start of MCNC’s HERO (High Speed Economies for Rural Opportunity) Project. MCNC received $11.2 million from the National Telecommunications and Information Administration (NTIA) in June 2023 for the HERO Project.