Altice USA has entered into a definitive agreement to acquire the assets of Morris Broadband for an enterprise value of USD310 million. The transaction will expand Altice USA’s footprint in North Carolina, where it already has a presence with its Suddenlink business. Following this acquisition, North Carolina will represent the sixth-largest state for Altice USA (out of its 21 states of operations) in terms of number of residential customers.
Morris Broadband currently provides broadband, pay-TV and voice services to approximately 36,500 residential and business customers in western North Carolina. As of 31 December 2020, Morris Broadband passed approximately 89,000 homes in communities such as Hendersonville, Franklin, Sylva, Nebo and West Jefferson.
Altice USA intends to finance the transaction with available liquidity. The deal is subject to certain regulatory approvals and other customary closing conditions and is expected to be completed in the second quarter of 2021.