Cequel Closes One Deal, Announces Another1/26/2004 6:57 AM Eastern
Cequel III, the St. Louis-based telecommunications-management and investment firm headed by Jerry Kent, closed its $78 million acquisition of Alliance Communications Inc. systems Monday and announced a separate agreement to buy another nine cable properties from Thompson Cablevision Co.
The Alliance acquisition, first announced in August, involves about 78,000 subscribers in Arkansas, Illinois, Indiana, Missouri, Maryland, Ohio, Pennsylvania, Tennessee and West Virginia.
The systems involved in the Thompson agreement, terms of which were not disclosed, have about 13,000 subscribers in Kentucky, Ohio and West Virginia. Cequel III expects to close the Thompson deal in April.
Cequel III -- which operates its cable systems as Cebridge Connections -- will have about 440,000 subscribers once the Thompson deal is closed.
Denver-based cable-investment banker Daniels & Associates represented Alliance in the Cequel III deal and is serving as an adviser to Thompson. Communications Equity Associates Inc., a Miami-based cable-investment banker, is representing Thompson.