DigitalBridge Communications Corp., an Ashburn, Va.-based provider of WiMax broadband service to underserved communities, has raised an undisclosed amount of new venture capital funding. Schurz Communications was joined by return backers National Rural Telecommunications Cooperative (NRTC), Paladin Capital Group, CNF Investments and Novak Biddle Venture Partners. The company previously raised over $50 million in equity funding.
DigitalBridge Communications Corp. (DBC), the leading private operator of WiMAX 4G broadband networks in underserved and rural America, announced today that it has completed an additional round of equity financing, including an investment from Schurz Communications, that will join next-generation communications with high-quality content for potentially millions of consumers. DBC is one of the first U.S. operators to launch standards-based WiMAX fixed service, WiMAX mobile service, and VOIP over WiMAX.
Among its diversified holdings, Schurz Communications operates two cable systems offering high-speed data services, eleven daily newspapers, ten TV stations, thirteen radio stations, and twenty-five highly-visited news and information websites. Schurz companies have been serving their customers since 1872.
By combining their leading-edge capabilities, Schurz Communications and DigitalBridge will be able to offer customers in markets where Schurz Communications operates affordable, 4G mobile broadband service, as well as local content delivered through innovative 4G mobile delivery platforms. Joint commercial rollouts will be announced during 2010, with DBC engineering, constructing, and operating the broadband wireless networks and local Schurz teams promoting, selling, and supporting innovative product bundles. DBC’s deployment capabilities, state-of-the-art Network Operations Center, scalable billing and customer care systems, and solid operating record will be enhanced by Schurz’s long history of trusted local service.
Over the past three years, DBC has launched new wireless broadband service in 15 communities nationwide. The company brings fixed broadband wireless services to a variety of customers — residential, business, educational, healthcare and public safety — and provides mobile broadband services though WiMAX-enabled laptops, netbooks, USB adapters and other portable devices. DBC’s open, all-IP network and cost structure enable local Schurz teams to significantly expand broadband service in their markets at a fraction of the capital and operating cost required for traditional wired and wireless services.
“We have seen increased consumer demand and usage for broadband services from our cable operations, and our partnership with DBC will allow us to offer high-quality, high-speed, wireless broadband services to our customers and communities,” said Todd Schurz, CEO of Schurz Communications. “Also, our newspapers and broadcast station brands already have millions of unique visitors, tens-of-millions of page views and deliver millions of online videos each month. We anticipate further digital growth as more mobile devices access our content and services at 4G speeds. Schurz is uniquely positioned locally, as we already have significant sales and marketing forces in place to offer this first-of-its-kind partnership,” Schurz explained.
“We believe 4G wireless broadband networks will do for the Internet what cellular networks did for voice communication,” said Kelley Dunne, CEO of DigitalBridge Communications. “Schurz’ strong ‘local voice’ and century-plus history of trusted service will enable us to combine the best of traditional media with the promise of advanced media distribution to accelerate our ability to deliver innovative, 4G wireless services to the communities that need it the most,” added Dunne.
The current round of financing also includes the following Series B investors: National Rural Telecommunications Cooperative (NRTC), Paladin Capital Group, CNF Investments, and Novak Biddle Venture Partners.
About DigitalBridge Communications
DigitalBridge Communications Corp. (“DBC”) is a 4G wireless Internet provider using WiMAX to deliver broadband services to underserved communities nationwide. Since launching its service during 2007, DBC has deployed WiMAX networks in 15 markets throughout the U.S. With WiMAX, DBC subscribers are able to set up fixed or mobile broadband service on their own within a matter of minutes and use their portable service anywhere within DBC’s coverage area. For more information about DBC, please visit www.digitalbridgecommunications.com.
About Schurz Communications
Schurz Communications, Inc. is a diversified, privately-owned, nationwide communications company. The company owns and operates two cable companies, eleven daily newspapers, ten television stations, 13 radio stations and more than 25 highly- visited news and information websites. Its portfolio also includes weekly papers, shoppers, directories and commercial printing facilities. Schurz is dedicated to serving communities in medium and small markets across the USA. Schurz Communications, based in Mishawaka, Indiana, has media outlets in Alaska, Arizona, California, Florida, Georgia, Indiana, Kansas, Kentucky, Maryland, Michigan, Missouri, Pennsylvania, South Dakota, and Virginia.