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Discontinued Operations | 6 Months Ended
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Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Discontinued Operations On March 29, 2024, Shenandoah Mobile, LLC, a wholly-owned subsidiary of Shentel, completed the initial closing of its previously disclosed sale of substantially all of Shentel’s tower portfolio and operations (“Tower Portfolio”) to Vertical Bridge Holdco, LLC for $309.9 million (the “Tower Transaction”). The Tower Transaction represented a strategic shift in the Company’s business and the Tower Portfolio was reclassified as a discontinued operation. As a result, for all periods presented, the operating results and cash flows related to the Tower Portfolio were reflected as a discontinued operations in our unaudited condensed consolidated statements of operations and unaudited condensed consolidated statements of cash flows. Income from discontinued operations, net of tax in the unaudited condensed consolidated statements of operations consist of the following for the period:
(in thousands) |  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2024
Service revenue and other |  | $ | — |  |  | $ | 4,542 |
Operating expenses: |  |  |  |
Cost of services |  | — |  |  | 1,059 |
Selling, general and administrative |  | — |  |  | 572 |
Depreciation and amortization |  | — |  |  | 222 |
Total operating expenses |  | — |  |  | 1,853 |
Operating income |  | — |  |  | 2,689 |
Other income: |  |  |  |
Gain on sale of disposition of Tower Portfolio |  | — |  |  | 294,250 |
Other expense |  | (129) |  |  | (129) |
(Loss) income before income taxes |  | (129) |  |  | 296,810 |
Income tax (benefit) expense |  | (30) |  |  | 78,123 |
(Loss) income from discontinued operations, net of tax |  | $ | (99) |  |  | $ | 218,687 |
Consummation of the sale triggered the recognition of approximately $4.4 million of incremental transaction costs during the six months ended June 30, 2024, for contingent deal advisory fees and legal expenses, which are netted against the gain on sale of disposition of Tower Portfolio.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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