US cable company Charter to buy Optimum West for $1.63 billion
08 Feb 2013
US cable company Charter Communications yesterday said that it would acquire Cablevision System Corp's western cable asset Optimum West for $1.63 billion.
In November 2012 Cablevision had said that it may sell Optimum West and disclosed having received offers for the unit.
Charter, based in Conneticuit outbid peers such as Time Warner Cable and Suddenlink Communications, according to local media reports.
Cablevision had acquired Optimum West, earlier known as Bresnan Broadband Holdings, in 2010 from an investment group led by Providence Equity Partners for $1.37 billion.
Operating through a Cablevision subsidiary called Bresnan Broadband Holdings, Optimum West provides television, high-speed Internet and other communication services to around 360,000 customers in Western US, including Montana, Colorado, Wyoming and Utah.
Based in New York, Cablevision, the fifth-largest US cable company, delivers Optimum-branded cable, internet, and voice offerings throughout the New York area.