US cable operator Wide Open West (WOW!) has announced that its owner, Avista Capital Partners (and ‘other unitholders’), have sold a ‘significant stake’ to New York-based private-equity firm Crestview Partners for USD125 million. The transaction is expected to close on or before 31 December 2015 and as of 1 January 2016, Crestview’s Jeffrey Marcus will become WOW!’s new chair of the board, replacing former WOW! CEO Colleen Abdoulah, who will continue to serve as a director.
According to TeleGeography’s GlobalComms Database, as of 30 September 2015 WOW! counted 712,000 broadband subscribers, down from 730,000 one year earlier. The cableco has operational networks in 19 markets in the Midwest/south-east, passing a total of 2.997 million homes.