TDS Telecom doubles down on commitment to improve rural broadband
Madison, Wisconsin, Sept. 28, 2023 (GLOBE NEWSWIRE) — TDS Telecommunications LLC (TDS®) is pleased to announce it has elected to receive Enhanced Alternative Connect America Cost Model (E-ACAM) support from the Federal Communications Commission (FCC). TDS has communicated to the FCC it will accept its offers in 24 states TDS serves. The federal broadband program, which is being extended and enhanced to provide additional funding for rural broadband, requires the deployment of at least 100/20 Mbps internet service to consumers who lack that service today.
“It is a landmark day for TDS and our customers. With this program, TDS and the federal government are ensuring quality, high-speed internet in our rural service areas,” said TDS Senior Vice President of Corporate Affairs Drew Petersen. “We are grateful for the support from Chairwoman Rosenworcel and all the commissioners. Together we are taking a crucial step forward in closing the digital divide in America.”
The Madison, Wisconsin-based telecommunications company has been part of the A-CAM program since its inception in 2016. The extended program requires TDS to deploy high-speed internet to more than 270,000 locations with about 40 percent of unserved addresses not receiving federal support. The E-ACAM program supports TDS’ ability to make long-term investments to improve rural broadband by providing predictable support over 15 years while aligning network deployment requirements with the federal Broadband Equity Access & Deployment (BEAD) program.
“TDS looks forward to improving broadband in our communities and assisting states in their efforts to prevent duplicate broadband funding from federal programs,” said Petersen.
For the last two years, TDS has been advocating in support of enhancing the ACAM program as a member of the ACAM Broadband Coalition and appreciates the continued support from NTCA – The Rural Broadband Association and WTA – Advocates for Rural Broadband.
TDS provides 1.2 million connections to high-speed internet, phone, and TV entertainment in rural and suburban communities across the U.S. The company has become an industry leader in constructing fiber optic networks, delivering up to 8Gig internet speeds for residences and dedicated connections for businesses up to 10Gig. Included in the company’s range of fiber speed options is a low-cost product for qualifying Affordable Connectivity Program (ACP) participants. TDS Connect includes 200Mbps/200Mbps speeds at a price that is fully covered by the monthly ACP benefit.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the company’s plans, beliefs, estimates, and expectations. These statements are based on current estimates, projections, and assumptions, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: intense competition; the ability to attract people of outstanding talent throughout all levels of the organization; TDS’ smaller scale relative to larger competitors; changes in demand, consumer preferences and perceptions, price competition, or churn rates; advances in technology;; the ability of the company to successfully construct and manage its networks; difficulties involving third parties with which TDS does business; uncertainties in TDS’ future cash flows and liquidity and access to the capital markets; the ability to make payments on TDS indebtedness or comply with the terms of debt covenants; conditions in the U.S. telecommunications industry; the value of assets and investments; the state and federal regulatory environment; pending and future litigation; cyber-attacks or other breaches of network or information technology security; disruption in credit or other financial markets; deterioration of U.S. or global economic conditions;. Investors are encouraged to consider these and other risks and uncertainties that are more fully described under “Risk Factors” in the most recent filing of TDS’ Form 10-K, as updated by any TDS Form 10-Q filed subsequent to such Form 10-K.
For more information about TDS and its subsidiaries, visit TDS: www.tdsinc.com; UScellular: www.uscellular.com; TDS Telecom: www.tdstelecom.com; OneNeck IT Solutions: www.oneneck.com.
TDS Telecommunications LLC (TDS Telecom/TDS®) delivers high-speed internet, TV entertainment, and phone services to a mix of rural and suburban communities throughout the U.S. With 1.2 million connections, TDS is a rapidly growing technology company. Powered by fiber-optics and new industry-leading technologies, TDS delivers up to 8 Gigabit internet speeds and offers internet-protocol based TV entertainment solutions along with traditional phone services. TDS also offers businesses VoIP advanced communications solutions, dedicated internet service, data networking, and hosted-managed services. Visit tdstelecom.com.
TDS Telecom, headquartered in Madison, Wis., employs 3,500 people and is a subsidiary of Telephone and Data Systems, Inc. [NYSE: TDS], a Fortune 1000® company. Founded in 1969, Telephone and Data Systems provides wireless, broadband, video and voice; and hosted and managed services to approximately 6 million connections nationwide through its businesses: UScellular, TDS Telecom, and OneNeck IT Solutions. Visit tdsinc.com.
CONTACT: Kit Beyer TDS Telecommunications LLC (608) 664-4428 kit.beyer@tdstelecom.com
