Northern Michigan University approves $21 million broadband network sale

Northern Michigan University approved the sale of its broadband service and infrastructure to Michigan Broadband Services for $21 million. The transaction still requires Federal Communications Commission approval.

Michigan Broadband Services plans to upgrade the network from 4G to 5G and expand service into additional rural Upper Peninsula communities. NMU students, faculty and staff will continue to receive one free internet connection through the network after the ownership transition.

NMU plans to use the proceeds to retire loans and expenses, support employee separation costs, contribute to a new business building and campus infrastructure, invest in academic initiatives and recruitment, and establish scholarships for communities that hosted network infrastructure.

Read the full story at myupnow.com.