Knology sold for more than $750 million

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Regional cable operator Knology Inc. will be bought by a unit of Avista Capital Partners for about $750 million plus debt, as the private equity firm adds cable assets in southeastern and midwestern United States.

As per the deal, WOW Internet, Cable & Phone, controlled by Avista Capital, will acquire Knology for $19.75 per share, a premium of 9 percent to the stock’s Tuesday close.

Including the assumption of debt, the deal is valued at $1.5 billion.

WOW offers cable and internet services in Michigan, Illinois, Ohio and Indiana.

The combined company will have more than 800,000 customers, the companies said in a statement.

Credit Suisse, Morgan Stanley, RBC Capital Markets, SunTrust Robinson Humphrey and Bank of Tokyo-Mitsubishi UFJ have committed debt financing for the deal.

Knology, which traces its roots to The Interstate and Valley Telephone Co and started providing telephone service in Georgia and Alabama in 1896, went public in 2003.

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Just My Opinion
5617
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Just My Opinion 04/18/12 - 07:32 pm
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Sooooo, what does that mean

Sooooo, what does that mean for the local customers? Any changes? No changes? More channels? Higher rates? Free coffee mugs?

abeecee
122
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abeecee 04/18/12 - 09:16 pm
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Any company with "Capital" in

Any company with "Capital" in its name = Squeeze profits and scr*w customers! So long, Knology!

Pu239
284
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Pu239 04/19/12 - 04:55 pm
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Introducing our new
Unpublished

Introducing our new CEO....Gordon Gekko

fatboyhog
1941
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fatboyhog 04/21/12 - 09:45 pm
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Sounds like it's time for

Sounds like it's time for DirectTV or Dish Network.

cheapster505
566
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cheapster505 08/07/12 - 12:40 pm
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fatboy

how do you think Knology gets their programming? thru the same dishes you have in your yard only theirs are bigger same programs and same channels as Dish and directv and all go out when it clouds over actually Charter hacked into someones satillite dish and called themselves a cable company

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