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February 8, 2013

Charter-Bresnan—So Nice, Let’s Buy it Twice

Tom Rutledge must really like those Bresnan properties. Charter will pay $1.625bln to acquire the systems in CO, MT, WY and UT from Cablevision, just a little over 2 years after it closed on its $1.365bln purchase of the systems (304K video subs; 660K homes). The price tag represents a multiple of 8.9x Optimum West’s (nee Bresnan) 3Q12 adjusted EBITDA and less than 8.0-X Charter’s estimate of Optimum West’s 1st year adjusted EBITDA under Charter. More details on financing and Charter’s last major acquisition here.

More top stories in today's CableFAX Daily:
 
Cox has just wrapped up a re-org. Here are the changes.
 
The FCC spent the day Thurs trying to figure out ways to spread broadband. Comcast’s low-cost broadband adoption program was dissected for lessons learned.
 
FCC commish Ajit Pai weighed in Thurs on the Tennis Channel-Comcast fight, with a federal court hearing arguments on the case in just a few weeks.








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