|
JetBroadband VA, LLC today announced a definitive agreement to acquire the Virginia cable systems of Cebridge Acquisition, LLC (d/b/a "Suddenlink"). The acquired systems serve approximately 40,000 Revenue Generating Units. They were previously acquired by Suddenlink from Charter Communications, Inc. in 2006. The transaction is expected to close in the third quarter of 2007, and is subject to customary closing conditions and franchise approvals.
JetBroadband President David Baum, said "JetBroadband is thrilled to be expanding its service area in southern Virginia. The purchase of these systems is consistent with our strategy to acquire geographically strategic assets, and we will continue to pursue opportunities to expand our portfolio of systems in ways that enhance overall operating efficiencies."
Suddenlink CEO Jerry Kent said "We are happy to reach this agreement and believe it is in the best interests of all concerned. We also want to assure our customers that they remain our first priority and we will work closely with JetBroadband to implement a successful transition."
Waller Capital Partners, LLC served as JetBroadband's exclusive financial advisor on the transaction.
JetBroadband is a broadband communications company focused on serving medium-sized communities in Virginia and West Virginia. JetBroadband serves approximately 67,000 Revenue Generating Units with a wide range of broadband services over an advanced digital network. MCG Capital Corporation (NASDAQ: MCGC) is JetBroadband's largest shareholder. More information about JetBroadband can be found at www.jetbroadband.com.
Suddenlink is the 8th largest cable operator in the U.S., supporting the information, communications, and entertainment demand of approximately 1.4 million customers. In a growing number of markets, Suddenlink offers digital TV, high speed internet, and telephone service for home and office. Private owners of Suddenlink include GS Capital Partners (the private equity arm of The Goldman Sachs Group, Inc.), The Quadrangle Group, LLC and Oaktree Capital Management, LLC. More information about Suddenlink can be found at www.suddenlink.com.
For more information, please contact
Garrett Baker
Partner, Managing Director
Waller Capital Partners, LLC
212-632-3600
gbaker@wallercc.com |
