Eagle Broadband Implements Restructuring Plan

LEAGUE CITY, Texas, Oct. 1 -- Eagle Broadband Inc. announced today it has implemented a strategic, company-wide restructuring designed to enable the company to better meet customer needs, increase revenue growth and position it to achieve cash-flow-positive operations within 90 days.

The company also announced the closing of a previously announced $10 million investment and the appointment of Dave Weisman as its new CEO. Regulatory approval was obtained for both events earlier this week and are now in effect.

Eagle said The new organization will allow it to fully capitalize on the opportunities in each of its target business segments. The company said it plans to only invest in the "most profitable, fastest growing markets where Eagle has unique advantages and can deliver compelling benefits and exceptional value to our residential, commercial/enterprise, municipality, hospitality and government/military customers."

The plan calls for the consolidation and integration of multiple Eagle businesses, divisions and functional areas under a single brand name with a more customer-oriented approach, Eagle said. The rebranding process has begun and will take place over the next several months and will include a single, integrated Eagle Broadband web site and an updated corporate identity. New management additions, staff reassignments and reductions will also take place as needed, the company said.

For more information, visit: www.eaglebroadband.com