Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News Sunset Digital plans to buy BVU’s OptiNet division

Sunset Digital plans to buy BVU’s OptiNet division

Published March 30, 2016 by Virginia Business

Sunset Digital Communications Inc. in Duffield plans to buy the OptiNet division of Bristol Virginia Utilities Authority (BVU) for $50 million.

BVU’s board of directors has approved the deal, but it still faces review by various regulatory agencies. The Bristol, Va., City Council approved the sale on a 4-1 vote in mid-March.

OptiNet, a nonprofit division launched in 2001, provides telecommunication and information services to customers in Bristol and the surrounding area.
BVU was the first municipal utility in the United States to deploy an all-fiber network offering video, voice and data services.

The transaction would pay off OptiNet’s debt, while positioning Sunset to expand high-speed broadband to many of the region’s rural customers.

Sunset Digital, which currently serves about, 2,300 customers, would pick up 13,500 more and nearly double the geographic area it serves.

In addition to telecommunications, BVU provides electric, water and wastewater services.

Nearly six years ago, the city’s utilities board was succeeded by the BVU Authority Board, making BVU a subdivision of the state government.

A bill passed during this year’s General Assembly session would replace BVU’s nine-member board, most of whom were appointed by the city council, with a seven-member board. Appointment powers for the new board would be divided among the city council, the House speaker, a Senate committee, the Washington County Board of Supervisors and Abingdon Town Council.

The legislation was prompted by a federal corruption investigation begun more than three years ago into the solicitation of gifts and payments from BVU vendors. The probe has resulted in the conviction of seven former BVU officials and contractors.

A federal jury in February convicted former BVU chief financial officer Stacey Pomrenko on 14 charges including wire fraud and making false statements to the IRS. She is scheduled to be sentenced in June.

Former BVU CEO Wes Rosenbalm was sentenced in October to 33 months in prison after pleading guilty last summer to a charge of conspiracy to defraud the Internal Revenue Service.

Related Stories

No related posts.

Trending

13th annual Best Places to Work

Making strides

It’s back!

After the crisis

Fort Monroe development moving forward

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Advertisement

Advertisement

Trending

13th annual Best Places to Work

Making strides

It’s back!

After the crisis

Fort Monroe development moving forward

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk