I attended the first meeting of BVU's new board of directors. The meeting was two hours long with a three page agenda. One of the big items on the list was the need to increase cable rates in order to make up for a budget deficit.
If you're a BVU cable customer, your bill could be going up 10 percent. BVU’s new board of directors voted to give preliminary approval to that increase at their first meeting Tuesday.
Without the increase, BVU is expecting a $1.8 million loss. If given final approval by the board and city council, the increase would take effect in November.
"We are projecting right now that we're going to run our cable division at a loss,” CEO Don Bowman said. “We have to come up with a strategy to prevent that and one piece of that today was the rate increase."
He says the revenue will not cover the entire deficit but it is an important step.
The board also voted to push back the deadline for the sale of BVU’s Optinet to Sunset Digital. The deadline has been moved from August 1 to December 31.
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