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DigitalBridge-led group pushes forward with potential deal for WideOpenWest, sources say
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DigitalBridge-led group pushes forward with potential deal for WideOpenWest, sources say
Mar 21, 2025 12:07 PM

NEW YORK, March 21 (Reuters) - A group including

DigitalBridge ( DBRG/PJ ) and Crestview Partners is attempting to

clinch a deal to acquire WideOpenWest ( WOW ), in what would cap

a year-long effort to take the broadband and cable services

provider private, according to people familiar with the matter.

The deliberations between the bidding group and WideOpenWest ( WOW )

have progressed in recent weeks and a deal could come together

in the coming weeks, if the talks don't hit a snag, the sources

said, requesting anonymity as the discussions are confidential.

The two sides are yet to agree on all the terms and it's

possible that no deal will be signed, the sources added. The

latest offer price could not be learned.

In May, WideOpenWest ( WOW ) received a non-binding offer worth

about $406 million from DigitalBridge ( DBRG/PJ ) and Crestview, which

currently holds a 37% stake in the company. The offer

represented a 32% premium over the company's closing price on

May 1.

WideOpenWest's ( WOW ) shares were trading at $4.85 on Friday, close

to the offer price from the DigitalBridge ( DBRG/PJ )-led group.

On its post-earnings call in August, Chief Executive Teresa

Elder said that the offer was being reviewed by a special

committee of independent directors.

WideOpenWest ( WOW ), Crestview, and DigitalBridge ( DBRG/PJ ) declined to

comment.

Englewood, Colorado-based WideOpenWest ( WOW ) provides broadband

and cable services to nearly 2 million residential customers and

businesses in 19 states across the Midwest and Southeast, making

it one of the largest cable operators in the United States.

In October, the company struck a deal with lenders to raise

about $200 million and restructure its debt. As of Dec. 31, the

company held roughly $1.02 billion of long-term debt.

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