Charter Sells 29K Subs to Allegiance

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Charter Communications sold cable systems with 29,000 subscribers in four Southwest states to Allegiance Communications, a private-equity backed venture.

The systems are in Oklahoma, Kansas, Missouri and Texas, and they supplement Allegiance’s 2004 acquisition of 54,000 customers, in Oklahoma, Kansas, Texas and Arkansas from Cox Communications.

The new acquisition closed this week, according to the companies. Daniels & Associates said it acted as exclusive broker in the transaction. The sale price wasn't reported. Charter, paring debt, this year alone has sold or agreed to sell systems with about 363,000 subscribers for about $980 million in addition to this sale.

Allegiance is a portfolio company of The Wicks Group of Cos., a private-equity firm based in New York, and it was formed in a partnership with Buford Media Group.

Allegiance said after the acquisition that it had more than 70,000 video customers and 12,000 high-speed-Internet subscribers.

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