Cable ONE inks USD735m NewWave takeover

19 Jan 2017

Phoenix, Arizona-based Cable ONE has entered into a definitive agreement to acquire fellow cableco NewWave Communications for USD735 million in cash. NewWave is currently owned by funds affiliated with GTCR, a leading private equity firm based in Chicago. The transaction is expected to be financed with USD650 million of senior secured loans and cash on hand. The deal is subject to customary regulatory closing conditions, and is expected to be completed during the second quarter of 2017.

In operational terms, NewWave – which is headquartered in Sikeston, Missouri – delivers broadband, pay-TV and voice services to residential and business customers throughout non-urban areas of Arkansas, Illinois, Indiana, Louisiana, Mississippi, Missouri and Texas. The cableco’s network passes nearly 428,000 homes and has more than 214,000 residential primary service units (PSUs) and 31,000 business PSUs. When the transaction closes, Cable ONE and NewWave will jointly serve more than 1.2 million PSUs.

United States, Cable ONE (Sparklight), NewWave Communications (US)