US operator Cable ONE – one of the ten largest cablecos in the US – has entered into a definitive agreement with Fidelity Communications to acquire its data, video and voice business and certain related assets for USD525.9 million in cash, subject to customary post-closing adjustments. Missouri-based Fidelity Communications is a family-owned cable operator that has been providing residential and business services to customers throughout greater Arkansas, Illinois, Louisiana, Missouri, Oklahoma and Texas for nearly 80 years. Fidelity’s network passes approximately 190,000 homes and the cableco has approximately 114,000 residential primary service units (PSUs) and 20,000 business PSUs. The all-cash transaction is subject to certain regulatory approvals and other customary closing conditions and is expected to be completed during the fourth quarter of 2019.
Julie Laulis, President and CEO of Cable ONE, commented: ‘We are thrilled to welcome Fidelity associates and customers to the Cable ONE family. Fidelity is a fantastic geographical, cultural and business fit. Its operating philosophy and customer-centric focus are similar to our own. That, coupled with future growth opportunities within or near our existing footprint, make this an exciting acquisition.’