Core Insights - KBRO, a leading broadband operator in Taiwan, is enhancing its network with Harmonic's fiber-on-demand solution, which supports multi-gigabit broadband connectivity [1][2] - The partnership aims to provide flexible architecture for long-term service evolution while managing investments responsibly [2][3] Company Developments - KBRO is implementing Harmonic's cOS platform to converge its fiber and DOCSIS networks, facilitating demand-driven fiber expansion [1][2] - The fiber-on-demand solution allows KBRO to activate advanced fiber services quickly and efficiently, aligning network expansion with revenue opportunities [2] Market Position - KBRO is recognized for its leadership in advancing broadband infrastructure in a competitive market, reinforcing Harmonic's presence in global fiber modernization initiatives [3] - Harmonic's cOS platform powers nearly 41 million CPE devices worldwide, indicating a strong market presence across various regions [3]

Core Insights - Glo Fiber has launched its 100% fiber optic broadband service in Springettsbury Township, Pennsylvania, aiming to complete construction by summer 2026, which will serve over 7,000 homes and businesses [1][2] - The service offers symmetrical upload and download speeds of up to 8 Gbps, leveraging fiber-to-the-home technology and Shentel's extensive 19,000-mile fiber network [2][3] - Glo Fiber is expanding its reach, now providing services to over 425,000 homes and businesses across multiple states, including Pennsylvania, Virginia, West Virginia, Maryland, Ohio, and Delaware [4][5] Company Overview - Glo Fiber specializes in next-generation fiber-to-the-home (FTTH) multi-gigabit broadband internet access, live streaming TV, and digital phone services [4] - The company is powered by Shenandoah Telecommunications Company (Shentel), which offers a range of broadband services through its advanced fiber optic and cable networks [5] - Glo Fiber emphasizes exceptional reliability, high speeds, and dedicated local customer service as key differentiators in the competitive broadband market [3][9]

Core Insights - Madison Mid Cap Fund's fourth-quarter 2025 investor letter indicates a challenging market environment for high-quality, profitable businesses, as the Russell Midcap Index achieved a full-year return of 10.6% with an annual increase of over 14% [1] - The Fund experienced a decrease of 1.2% in Q4 2025, underperforming the Russell Midcap Index, which increased by 0.2% [1] Company-Specific Insights - Liberty Broadband Corporation (NASDAQ:LBRDK) is highlighted as a key stock in the Madison Mid Cap Fund's portfolio, with a market capitalization of $7.314 billion [2] - The stock closed at $50.97 per share on March 10, 2026, with a one-month return of -9.21% and a 52-week loss of 32.17% [2] - Liberty Broadband was among the bottom five detractors for the quarter, primarily due to disappointing profitability and broadband subscriber losses reported by Charter Communications [3] - Despite recent challenges, the Fund believes that increased free cash flow prospects provide solid valuation support for Liberty Broadband's stock [3] Hedge Fund Interest - Liberty Broadband Corporation (NASDAQ:LBRDK) was held by 59 hedge fund portfolios at the end of Q4 2025, an increase from 54 in the previous quarter [4] - While acknowledging Liberty Broadband's potential, the Fund suggests that certain AI stocks may offer greater upside potential with less downside risk [4]

Group 1: Company Overview - Charter Communications, Inc. (NASDAQ:CHTR) operates as a broadband connectivity company in the United States, providing subscription-based internet, mobile, video, voice, and related broadband services [5] Group 2: Recent Developments - On February 25, 2026, Charter Communications announced the appointment of Nick Jeffery as Chief Operating Officer, who will oversee Marketing and Sales, Field Operations, and Customer Operations across Spectrum's services, starting September 1 [2][8] - Earlier in February, TD Cowen raised its price target on Charter to $437 from $428 while maintaining a Buy rating, noting mixed 4Q25 results but improved broadband subscriber losses and a gain in video subscribers [3] - Benchmark analyst Matthew Harrigan also raised the price target to $455 from $425, keeping a Buy rating, indicating that the target reflects a fair value assessment based on forecasts through 2030 [4]

Core Insights - Shenandoah Telecommunications Company (Shentel) has completed a $24 million project to expand gigabit broadband internet service to over 4,900 previously unserved homes in Bedford County, Virginia, with partial funding from the Virginia Telecommunications Initiative (VATI) [1][3] Group 1: Project Details - The VATI project in Bedford County is a collaboration between Shentel, the Virginia Department of Housing and Community Development, and Bedford County, showcasing the effectiveness of public-private partnerships in achieving broadband expansion [3] - The project aims to provide reliable, gigabit-capable broadband to rural households, supporting economic growth and enhancing educational opportunities [3] Group 2: Company Overview - Shentel operates a high-speed fiber optic and cable network, providing broadband services to residential and commercial customers across eight states in the eastern United States [4] - The company boasts an extensive regional network with over 19,000 route miles of fiber, offering a range of services including broadband internet, video, voice, and managed network services [4]

Core Viewpoint - Shenandoah Telecommunications Company (Shentel) demonstrates a strong commitment to community service through employee volunteerism and charitable contributions, focusing on food and housing insecurity in the areas it serves [1][3][4]. Group 1: Employee Engagement and Volunteerism - Over the past year, 114 employees contributed more than 572 volunteer hours to support local charitable organizations [1]. - Shentel offers paid volunteer time, allowing employees to engage with local organizations during Shentel Caring Days, reflecting the company's culture of community involvement [2]. Group 2: Charitable Contributions - Shentel and its employees donated over $48,000 to local charities, which includes $20,000 in matching contributions from the Shentel Foundation [3]. - The donations supported initiatives like The Summer Backpack Program, which addresses food insecurity for children and families, and The Big Give, which assists neighbors in need during the holiday season [3]. Group 3: Company Leadership and Future Focus - Ed McKay, Shentel's President and CEO, expressed pride in the employees' commitment to community service, emphasizing that community involvement is integral to the company's identity [4]. - Looking ahead to 2026, Shentel aims to continue its focus on service, collaboration, and community well-being [5].

Core Viewpoint - Shenandoah Telecommunications Company (Shentel) demonstrates a strong commitment to community service through employee volunteerism and financial contributions to local charities, addressing food and housing insecurity in the areas it serves [1][3][4]. Group 1: Employee Engagement and Volunteerism - Over the past year, 114 employees contributed more than 572 volunteer hours to charitable organizations focused on food and housing insecurity [1]. - Shentel offers paid volunteer time, allowing employees to engage with local organizations during Shentel Caring Days, reflecting the company's culture of community support [2]. Group 2: Financial Contributions - Shentel and its employees donated over $48,000 to local charities, which includes $20,000 in matching contributions from the Shentel Foundation [3]. - The donations supported initiatives such as The Summer Backpack Program, which addresses food insecurity for children and families, and The Big Give, which assists neighbors in need during the holiday season [3]. Group 3: Company Vision and Future Focus - Shentel's President and CEO, Ed McKay, emphasized that community involvement is integral to the company's identity and expressed pride in employees' contributions [4]. - Looking ahead to 2026, Shentel aims to continue its focus on service, collaboration, and community well-being [5]. Group 4: Company Overview - Shenandoah Telecommunications Company provides broadband services through high-speed fiber optic and cable networks across eight states in the eastern United States, offering services such as broadband internet, video, voice, and managed network services [6].

Core Viewpoint - AST SpaceMobile (ASTS) is a broadband service provider utilizing satellite technology to deliver 5G speeds to cellular phones globally, and it has begun generating non-core revenue [1] Company Overview - AST SpaceMobile focuses on providing 5G connectivity through satellite technology, aiming to enhance mobile communication capabilities [1] Financial Performance - The company has started to generate non-core revenue, indicating a diversification in its revenue streams [1]

Core Insights - Cogeco's performance in Canada is described as "solid and resilient," with positive year-over-year EBITDA trends and continued customer growth, although wireline competition has intensified during the holiday season, leading to expectations of modest wireline customer growth in the second quarter [1][4] - The U.S. market presents structural opportunities for Cogeco, with low penetration in parts of its footprint, and the company is selectively upgrading its network while launching a new digital brand [2][3] - The first-quarter fiscal 2026 results were in line with the company's plan, with improving customer metrics in the U.S. and steady performance in Canada [4] Financial Performance - Consolidated revenue fell approximately 4.9% and adjusted EBITDA declined about 3.7%, with free cash flow decreasing around 15.9% [5][14] - In Canada, Cogeco Connexion reported stable revenue with a 2% increase in adjusted EBITDA, adding 8,900 internet subscribers, although revenue per customer decreased due to fewer video and wireline phone subscribers [6][8][9] - In the U.S., Breezeline achieved its best customer metrics in 15 quarters, but revenue fell approximately 9.9% and adjusted EBITDA declined about 9.1% in Q1 [7][10][12] Customer Metrics - The U.S. turnaround is showing traction, with subscriber trends improving for the second consecutive quarter, particularly in Ohio, where internet subscriber additions totaled 2,600 [3][11] - Management expects the U.S. business to remain stable in Q2, with more significant improvements anticipated in the second half of fiscal 2026 [13][18] Capital and Dividends - The quarterly dividend was raised by 7% to CAD 0.987, and net debt to EBITDA ended the quarter at 3.2x, slightly up from 3.1x in Q4 [5][16] - Capital intensity was reported at 22.2%, up from 20.4% a year earlier, but management remains on track to meet full-year capital spending guidance [15]

Core Insights - Glo Fiber has launched an 8 Gig symmetrical fiber internet service for residential customers across multiple states, providing access to over 400,000 homes and businesses [1][4]. Group 1: Service Launch and Coverage - Glo Fiber's 8 Gig service is now available in Virginia, West Virginia, Maryland, Pennsylvania, Delaware, and Ohio, marking a significant expansion in its service area [1]. - The service is designed to meet the increasing demand for high-speed internet, accommodating multiple connected devices and supporting various digital innovations [2]. Group 2: Technological Advancements - Glo Fiber utilizes state-of-the-art technology, including XGS-PON 10 Gbps networks, to deliver reliable and symmetrical broadband service [4]. - The infrastructure is built not only for current needs but also for future digital advancements, such as AI-driven home automation and immersive extended reality environments [2]. Group 3: Competitive Differentiators - Glo Fiber emphasizes its key differentiators, including exceptional reliability, multi-gig symmetrical speeds, straightforward pricing without long-term contracts, and local customer service [9].