Midco announced that it sold its tower portfolio to K2Towers. The companies did not reveal the amount of the transaction nor how many towers were in the agreement. However, according to Midcontinent Communications’ registrations with the FCC, the company has 33 structures.
In a statement, Midco said the sale further solidifies the company’s commitment to delivering exceptional broadband services to its customers while strengthening K2 Towers’ portfolio and enhancing its geographic footprint in Minnesota, North Dakota, South Dakota, and Wisconsin.
As an example, K2Towers currently has four sites in South Dakota that Midco’s nine towers will complement.
“This transaction allows Midco to concentrate on our core broadband business, ensuring that our customers continue to receive Midco’s award-winning service,” said Steve Bruch, Sr. Director of Corporate Development.
Midco is one of the leading providers of state-of-the-art fiber-to-the-premises broadband networks serving 450 communities across Kansas, Minnesota, North Dakota, South Dakota and Wisconsin.
The company is currently moving its corporate headquarters back to Sioux Falls, SD, where it first set foot in 1952 when it purchased local radio station KELO 1320, and then built the state’s first television station.