The potential buyer of BVU Authority’s OptiNet division on Monday touted the unfinished deal’s economic development potential, but its potential future partner said it won’t be pressured into approving the deal.
Sunset Digital Communications issued a statement announcing it is working to establish its presence across the large section of Southwest Virginia currently served by BVU. Sunset is attempting to acquire the fiber-optic network for $50 million, but the deal is awaiting approval from the Cumberland Plateau Company and hinges, in part, on resolving CPC’s demand that BVU pay the nonprofit agency $8 million.
“Once the acquisition of OptiNet becomes final, we will begin the expansion of our fiber network to new business and residential customers in Russell, Dickenson, Buchanan, Tazewell, Smyth, Bland and Wythe counties,” Sunset CEO Paul Elswick said in the written statement. “Combined with expansion in Lee, Wise and Washington counties, our fiber network can be a major economic engine to shore up job losses from the downturn in the coal business.”
