St. Joseph Cablevision, a small market operator with about 85,000 residential and business customers in Arizona and California, is on the block, according to its parent News-Press & Gazette.
NPG, which also owns newspapers in Kansas and Missouri and broadcast television stations in Colorado, Texas, California, Arizona and Oregon, has retained Denver-based cable investment banker RBC Daniels to explore a possible sale. The TV stations and newspapers, as well as its cable news and weather channel News-Press 3 NOW, are not part of the proposed sale.
According to an article in its own St. Joseph News-Press, an active buyers market prompted NPG's decision to weigh offers for the systems.
There have been a handful of small cable transactions in the past several months, including Shenandoah Telecommunications' $148 million purchase of Jet Broadband and Cablevision Systems' agreement to purchase Bresnan Communications for about $1.4 billion. NPG formed St. Joseph Cablevision in 1965. The operator has systems in Flagstaff, Sedona, Lake Havasu, Kingman, Parker, Bullhead City and Payson in Arizona and Blythe and Mammoth Lakes in California. According to the report in the News-Press, preliminary information on the systems has been sent to about 35 interested parties. If the systems are sold NPG hopes to close the deal by the first quarter of 2011.