DigitalBridge Group, a leading global alternative asset manager dedicated to investing in digital infrastructure, and Crestview Partners, a leading private equity firm, announced that affiliated investment funds have completed their previously announced take-private acquisition of WideOpenWest, a top provider of fiber-broadband internet services and advanced connectivity solutions in the United States.
“We are excited to complete this transaction and begin a new era of growth. We look forward to investing in network and customer experience enhancements, pursuing operational excellence, and delivering an exceptional connected experience over WOW!’s high-performance networks,” said Jonathan Friesel, Senior Managing Director and Head of Fiber at DigitalBridge.
Brian Cassidy, President and Head of Media at Crestview Partners, said, “As a private company, WOW! will have strategic flexibility and resources to compete more effectively in its markets and pursue long-term growth. We believe this strategic infrastructure investment will allow us to bring advanced technology to these markets more quickly and will strengthen WOW!’s competitive position.”
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WOW! shareholders will receive $5.20 in cash per WOW! share in a transaction with an enterprise value of approximately $1.5 billion. With the completion of the transaction, WOW! common stock is no longer traded or listed on any public securities exchange.
Advisors
Centerview Partners LLC acted as the sole financial advisor to the special committee of the WOW! Board of Directors formed to lead the evaluation of the potential transaction, and Wachtell, Lipton, Rosen & Katz acted as its legal counsel.
LionTree Advisors acted as sole financial advisor to DigitalBridge and Crestview. Morgan Stanley and Goldman Sachs served as structuring advisors to the transaction.
SOURCE: PRNewswire
