UPDATE: Federal oversight groups approve Cumberland Plateau / Sunset deal
A federal oversight group gave their blessing Thursday to a proposed operating agreement between Scott County-based Sunset Digital and the Cumberland Plateau Planning District Commission.
An issued statement from Sunset said the official approval of the deal by the National Telecommunications Information Administration and the Economic Development Administration is another hurdle cleared in helping them close a $50 million purchase of Bristol Virginia Utilities' OptiNet division.
Sunset and BVU have been trying to consummate the deal since late 2016 when BVU was approached by the Duffield, Va., business to acquire their cable TV and Internet holdings.
CPPD is a 50 percent owner of the digital infrastructure of that system and called for several contract revisions before a final draft was approved last month.
The NTIA is an agency with the U.S. Dept. of Commerce that helps develop policy and programs for broadband access.
Sunset CEO Paul Elswick said in Thursday's statement that the new deal with help connect thousands of new homes and business while helping to build the economy in Southwest Virginia over the next five years.