Charter Communications Inc. has made its second cable-systems acquisition in
three weeks, this time buying properties in Colorado, Minnesota and Nebraska
with 32,000 subscribers from Cable USA.
The deal is worth $99.5 million, and it will flesh out other Charter
operations, mainly in Nebraska, where Charter will add about 29,000 subscribers
as a result of the purchase.
This is the second deal in three weeks for Charter. On Feb. 28, the company
bought 524,000 net subscribers from AT&T Broadband for $1.8 billion in stock
The Cable USA deal is expected to close by the second or third quarter,
pending regulatory approvals.
As part of the deal, Charter picks up systems in six communities in Colorado,
four towns in Minnesota and 46 communities in Nebraska.
'Once approved, the addition of these systems will allow us to further expand
Charter's presence in these states and to deliver the benefits of our advanced
broadband network to more and more customers,' vice president of operations for
Charter's Rocky Mountain group Dan Ryan said in a press release.
Cable USA was founded in 1970 by Russ and Linda Hilliard.
'We are confident that Charter's commitment to further developing the
capabilities of these cable systems will result in the continued delivery of
high-quality and advanced services and customer satisfaction,' Cable USA
president Chris Hilliard said in a prepared statement.