ADVFN - Advanced Financial Network.
HOME» NYSE » C » CVC Stock Price » CVC Stock News

Cablevision System Share News

 Cablevision Systems Corp. Stock Price
CVC Stock Price
 Cablevision Systems Corp. Stock Chart
CVC Stock Chart
 Cablevision Systems Corp. Stock News
CVC Stock News
 Cablevision Systems Corp. Company Information
CVC Company Information
 Cablevision Systems Corp. Stock Trades
CVC Stock Trades

Avista Capital's WideOpenWest Mulls Bid For Knology -Sources

By William Launder and Anupreeta Das NEW YORK (DOW JONES)--Regional cable company WideOpenWest and its private equity owners are considering a bid for fellow operator Knology Inc. (KNOL) in a potential deal aimed at boosting revenue synergies from its TV, Internet and phone subscription services, according to people familiar with the situation. Terms of any such deal weren't revealed, but The Wall Street Journal previously reported that Knology--which operates mainly in the South--could fetch up to $1.5 billion at auction, based on a multiple of around eight times earnings before interest, taxes, depreciation and amortization and a transaction premium. A successful deal would hinge on WideOpenWest and its majority owner, private equity fund Avista Capital Partners, securing an attractive price and financing for Knology, said the people, who noted that the deal could still fall through. Other private equity funds also have looked at Knology, which hired financial advisers to oversee a potential sale earlier this year, but WideOpenWest is the most likely potential buyer, the people said. Spokeswomen for WideOpenWest and Avista declined to comment. A representative for Knology wasn't immediately available. WideOpenWest, also known as WOW, is based in Englewood, Colo., and serves around 1.4 million subscribers in Illinois, Michigan, Ohio and Indiana, according to its website. Knology, based in West Point, Ga., offers similar services to just under 800,000 customers in Alabama, Florida, Kansas and Tennessee, as of the end of 2011. For 2011, Knology had $518.6 million in revenue and adjusted annual EBITDA of about $187 million. It also has around $700 million in net debt. WideOpenWest's financial details aren't disclosed by Avista. Private equity firms have long been active buyers and sellers of cable operators. The regular cash flows generated by cable companies' subscription businesses can be used to pay down the debt used by buyout funds to finance the transactions. Meanwhile, many cable operators are attempting to gain scale as they face rising programming costs and new competition from the likes of Verizon Communications Inc.'s (VZ) FiOS and Internet-based TV services. Last year, Time Warner Cable Inc. (TWC) acquired Carlyle Group-controlled Insight Communications for around $3 billion, beating out rival bidders including WideOpenWest. Cablevision Systems Corp. (CVC) struck a deal in 2010 to buy Bresnan Communications for $1.4 billion. Also on the block currently is Wave Broadband LLC, which operates in Washington, Oregon and California, and which could fetch up to $1 billion at auction, according to previous reports. -By William Launder and Anupreeta Das, Dow Jones Newswires; 212-416-3412; [email protected]

Stock News for Cablevision System (CVC)
07/06/201613:12:48Termination of Registration of a Class of Security Under Section...
07/06/201613:06:41Termination of Registration of a Class of Security Under Section...
07/06/201612:58:42Post-effective Amendment to an S-8 Filing (s-8 Pos)
06/22/201616:04:18Statement of Changes in Beneficial Ownership (4)
06/22/201616:03:25Statement of Changes in Beneficial Ownership (4)
06/22/201616:02:31Statement of Changes in Beneficial Ownership (4)
06/22/201616:01:08Statement of Changes in Beneficial Ownership (4)
06/22/201616:00:34Statement of Changes in Beneficial Ownership (4)
06/22/201615:59:12Statement of Changes in Beneficial Ownership (4)
06/22/201615:57:07Statement of Changes in Beneficial Ownership (4)
06/22/201615:56:22Statement of Changes in Beneficial Ownership (4)
06/22/201615:55:56Statement of Changes in Beneficial Ownership (4)
06/22/201615:54:59Statement of Changes in Beneficial Ownership (4)
06/22/201615:54:25Statement of Changes in Beneficial Ownership (4)
06/21/201617:42:00Fortune Brands Home & Security Set to Join the S&P 500; Churchill...
06/21/201617:04:18Amended Statement of Beneficial Ownership (sc 13d/a)
06/21/201616:55:02Statement of Changes in Beneficial Ownership (4)
06/21/201616:53:13Statement of Changes in Beneficial Ownership (4)
06/21/201616:51:57Statement of Changes in Beneficial Ownership (4)
06/21/201616:50:30Statement of Changes in Beneficial Ownership (4)

Cablevision System and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations