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Jet Broadband Closes Cebridge Deal

Jet Broadband said Thursday that it completed its acquisition of cable systems in several Virginia communities from Suddenlink Communications.

According to a press release, Jet acquired systems with about 40,000 revenue-generating units in Radford, Glade Hill, Bedford, Rocky Mount, Christiansburg, Farmville, Clarksville, Lawrenceville, Keysville, Charlotte Court House, Kenbridge, Dante and Lebanon for an undisclosed sum. Jet first announced the deal in May.

In a prepared statement, Jet president David Baum said the company plans to add advanced services like HDTV, digital-video recorders and digital telephone to the new systems in the coming months.

With the acquisition, Jet serves about 110,000 RGUs in West Virginia and Virginia.

New York-based cable investment banker Waller Capital initiated the transaction and served as Jet’s exclusive financial adviser.