Cable One said it has purchased Cable America Missouri, a small broadband and cable operator with about 14,000 customers in rural areas in the central part of the state, for about $113 million in cash.
Cable One revealed the debt-free purchase in its 10-Q quarterly financial statement with the Securities and Exchange Commission filed on Nov. 5.
On a conference call with analysts to discuss its Q3 results on Nov. 5, Cable One CEO Julie Laulis said the Cable America properties are close to markets the company purchased in 2019 with its buy of Fidelity Communications.
“Due to its adjacency to our Fidelity markets as well as alignment with culture, growth and competitive profile, we expect Cable America to be an excellent fit to our growing family of brands,” Laulis said on the call. “The transaction is expected to be financed with cash on hand and close prior to year-end.”
The Cable America deal comes shortly after Cable One said it would form a fiber joint venture with Clearwave Communications and Hargray Communications.
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Mike Farrell is senior content producer, finance for Multichannel News/B+C, covering finance, operations and M&A at cable operators and networks across the industry. He joined Multichannel News in September 1998 and has written about major deals and top players in the business ever since. He also writes the On The Money blog, offering deeper dives into a wide variety of topics including, retransmission consent, regional sports networks,and streaming video. In 2015 he won the Jesse H. Neal Award for Best Profile, an in-depth look at the Syfy Network’s Sharknado franchise and its impact on the industry.