TDS Telecom launches all fiber expansion markets in 2023
MADISON, Wisconsin - TDS Telecommunications LLC (TDS®) is pleased to announce the company has launched its reliable fiber internet services in all its expansion markets as planned. The company is currently building out its fiber network in roughly 100 communities, mainly in Wisconsin and the Pacific Northwest. A few recently announced launches include Missoula, Butte, Helena, and Great Falls, Montana; Twin Falls and Caldwell, Idaho; and Fond du Lac and Sheboygan, Wisconsin. The Madison, Wisconsin-based company has become an industry leader in constructing fiber optic networks, delivering up to 8 Gig internet speeds for residences and dedicated connections for businesses up to 10 Gig.
“TDS Telecom is effectively executing our growth strategy,” said President and CEO Jim Butman. “Our construction partners and internal construction crews have been doing outstanding work building a future-proof fiber communications network that is bringing incredible value to TDS communities, new and old.”
This year TDS completed fiber network construction in 14 communities and opened 10 new retail stores. Because of the strong momentum the company is experiencing, TDS recently increased its 2023 fiber service address goal to 200,000. TDS is putting fiber technology not only in its expansion markets but also in its legacy telephone communities, cable markets, and rural, hard-to-reach areas.
E-ACAM Participation
This year TDS doubled down on its commitment to rural broadband. The company elected to receive Enhanced Alternative Connect America Cost Model (E-ACAM) support from the Federal Communications Commission. The federal broadband program will provide the company with $1.3B in revenue over the next 15 years in exchange for delivering increased speeds of 100/20 Mbps to about 270,000 locations in 24 states.
TDS Cares
Through its TDS Cares initiatives, TDS continued to give back to the communities it serves through donations, sponsorships, and volunteerism. In 2023, the company donated more than $1 million to worthy organizations, and associates volunteered more than 1,400 hours. TDS celebrated educators in Wisconsin through its Most Value Educator program and highlighted Hometown Heroes in our Idaho communities. In Montana, TDS infused tens of thousands of dollars for local sponsorships and donations to charitable organizations, including a $10,000 DE&I Stem Grant for Central Montana Works! and its flagship project, the Worlds of Work™ (WOW) Career Exploration in Great Falls. In Wisconsin, TDS supported several Wisconsin Badgers programs and is a proud sponsor of the Green Bay Packers.
Award-Winning Service
TDS was honored in so many ways in 2023. Residents in Southern Utah, Iron County, Utah, and Fort Stockton, Texas named TDS the best internet service provider. The chambers of commerce in West Bend, Wisconsin, and Twin Falls, Idaho named TDS their best new business member. In addition, TDS was recognized as an employer of choice in several areas including as a top company for veterans and a best place to work for disability inclusion.
Mission
TDS updated its mission statement and company core values this year. Our mission is to create a better world by providing high-quality communication services – connecting people and businesses, supporting education, and strengthening communities. Our shared values are to drive customer loyalty, champion inclusivity, invest in people and communities, act with integrity, and foster teamwork.
“TDS has incredible associates and I’m proud of the work they do every day,” said Butman. “We are ready to see what opportunities 2024 brings.”
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 Telecom's smaller scale relative to larger competitors; changes in demand, consumer preferences and perceptions, price competition, or churn rates; advances in technology; impacts of costs, integration problems or other factors associated with acquisitions, divestitures or exchanges of properties and/or expansion of TDS Telecom’s businesses; the ability of the company to successfully construct and manage its networks; difficulties involving third parties with which TDS Telecom does business; uncertainties in TDS Telecom’s future cash flows and liquidity and access to the capital markets; the effect on TDS Telecom's business if the collateral securing the secured term loan of TDS Telecom’s parent, Telephone and Data Systems, Inc., is foreclosed upon; 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; indirect control by the TDS Voting Trust; disruption in credit or other financial markets; deterioration of U.S. or global economic conditions; and the impact, duration and severity of public health emergencies. 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 Telephone and Data Systems, Inc.’s Form 10-K, as updated by any Telephone and Data Systems, Inc.’s Form 10-Q filed subsequent to such Form 10-K.
