Cable ONE has agreed to sell its Alabama assets to South Carolina-based Hargray Communications. The networks in question serve Anniston and Alabama and the surrounding areas and under the terms of the agreement, Cable ONE will hold a minority equity interest in Hargray upon closing. The transaction is expected to close this autumn, pending regulatory approvals.
Founded in 1947, Hargray is a regional telecoms operator that serves a growing set of markets in the south-eastern US. The company is currently owned by an investor group led by The Pritzker Organization, the merchant bank for the Tom Pritzker family. In addition to The Pritzker Organization, the investor group currently includes Stephens Capital Partners, Redwood Capital Investments, WaveDivision Capital, and management.
Hargray’s most recent set of takeovers were deals for ComSouth in Middle Georgia (2018); USA Communications in Alabama (2019) and Florida-based Dark Fiber Systems (2019).