Suddenlink Closes Northland DealAcquires 12K Subs in Texas 1/02/2014 4:30 PM Eastern
Suddenlink Communications said Thursday that it has closed its acquisition of certain cable assets in Texas from Northland Communications. Terms of the deal were not disclosed.
As part of the transaction, Suddenlink acquired about 12,000 residential and 300 commercial customers (representing more than 18,700 primary service units) in and around Gun Barrel City, Flint, and New Caney, Texas. Suddenlink officials said there is an opportunity to interconnect the Northland systems with nearby Suddenlink systems in Terrell, Tyler, and Kingwood, Texas, respectively. Suddenlink first announced the transaction in October.
"We're pleased to complete this acquisition of systems adjacent to communities in Texas we already serve. We're excited about the opportunity to further enhance TV, Internet, and phone services in these areas, for the benefit of our newest customers," said Suddenlink Chairman and CEO Jerry Kent in a statement. "We'd also like to take this opportunity to welcome to Suddenlink the very capable and experienced group of employees joining us from Northland."
Suddenlink expects to retain substantially all local employees and plans to communicate specific plans for the acquired systems to customers and community leaders in the months ahead.
RBC Capital Markets served as the exclusive M&A advisor to Northland in the transaction.
Suddenlink is the seventh largest cable operator in the country with about 1.4 million residential and commercial customers in Arkansas, Louisiana, North Carolina, Oklahoma, Texas, West Virginia and elsewhere.
Northland Cable Television, headquartered in Seattle, began operations in 1981 and currently operates smaller market cable systems in Alabama, California, Georgia, Idaho, North Carolina, South Carolina, Texas and Washington.