Finance

Block to Buy Mississippi Cable Op

Ripley Video Cable deal expected to close in Q4 9/06/2017 1:57 PM Eastern

Block Communications said it has agreed to purchase Ripley Video Cable, a pay TV and broadband services provider in north-central Mississippi. Terms of the deal were not disclosed.

The acquisition of Ripley will complement Block’s holdings in Mississippi, with systems in the towns of Ripley, Blue Mountain, Falkner and Pine Grove.

"We are a family-owned company operating in the cable business since 1965, and so we well recognize the hard work Leon and Diane Bailey, owners of Ripley Video Cable, have done over the years to provide excellent, local customer service,” said Block Communications chairman Allan Block in a statement “The Baileys' unparalleled contribution to the cable TV and broadband industry within Mississippi will live on through our MaxxSouth operation because we share a common vision: To be good corporate citizens by giving back to our communities in ways that enhance their quality of life."

He added that would include upgrading the network, offering a broader selection of video channels and faster Internet speeds and offering a complete suite of business services.

Block is the parent of Buckeye Communications, which provides service in Toledo and Erie County, Ohio. Block also owns newspapers -- the Pittsburgh Post-Gazette in Pittsburgh, Pa., and The Blade in Toledo, Ohio – and owns and operates television broadcast stations in Louisville, Ky.; Decatur, Ill.; Lima, Ohio; and Boise, Idaho. It formed MaxxSouth in 2014, after purchasing systems in Mississippi and Alabama from Harron Communications.

The transaction is expected to close during the fourth quarter, upon regulatory approvals. Last Mile Communications, LLC (LMC) and Milestone Communications, Inc., served as the exclusive advisors to Block Communications, Inc./MaxxSouth Broadband and Ripley Video Cable, respectively.

 

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