Vermont’s Public Utilities Commission has approved the sale of Burlington Telecom to Schurz Communications.
The Burlington City Council approved the deal back in December 2017, going against a group of residents who said the sale should not have been approved. They argue that since the city diverted nearly $17 million to keep Burlington Telecom running, the sale should not be approved.
The company will be owned by Schurz’s local affiliate, Champlain Broadband.
Burlington mayor Miro Weinberger celebrated the sale, saying he is proud of the new development.
“It definitely feels like a major milestone in this long journey,” Mayor Weinberger said.
Over the last seven years in office, Mayor Weinberger said he has tried to protect taxpayers from further liability. He hoped to get some money back, keep the fiber optic network in place for future generations, and protect the city from monopolies.
“With this decision today, I am confident we are going to be able to deliver on all of those goals,” Mayor Weinberger said.