Company News
With the deal closed, WOW! will operate as a private company under its new ownership, DigitalBridge Group and Crestview Partners announced.
Edited by Brad Randall, Broadband Communities
DigitalBridge Group and Crestview Partners have completed their previously announced take-private acquisition of broadband provider WideOpenWest Inc. (WOW!), the firms said Thursday.
The deal values WOW! at an enterprise price of about $1.5 billion and will pay WOW! shareholders $5.20 in cash per share, after which WOW! common stock will no longer trade on any public exchange.
The buyout was led by affiliated funds of DigitalBridge, a global alternative asset manager focused on digital infrastructure, and Crestview, a private equity firm.
LionTree Advisors acted as sole financial advisor to the buyers, while Centerview Partners advised a special committee of the WOW! board that evaluated the transaction. Legal counsel included Simpson Thacher for DigitalBridge, Davis Polk for Crestview and Wachtell, Lipton for the WOW! special committee.
Jonathan Friesel, senior managing director and head of fiber at DigitalBridge, framed the acquisition as the start of “a new era of growth,” saying the companies plan to invest in network upgrades and customer experience improvements and to pursue “operational excellence” across WOW!’s networks.
Brian Cassidy, president and head of media at Crestview Partners, said the transaction will give WOW! “strategic flexibility and resources to compete more effectively” and speed the rollout of advanced technology in its markets.
DigitalBridge highlights its 30-year history in digital infrastructure and said it manages roughly $108 billion of assets, suggesting the firm has the scale to support significant network investments under private ownership.
With the deal closed, WOW! will operate as a private company under its new ownership, removing the transparency and quarterly reporting obligations that accompany a public listing.
AI tools from Noah Wire Services were used to help generate this report.
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