Cable One to Buy NewWave for $735M

Cable One said it has agreed to purchase mid-sized cable operator NewWave Communications from private equity group GTCR for $735 million in cash. The deal is expected to close in the second quarter of 2017. Buying NewWave, headquartered in Sikeston (MO), will add about 214,000 residential primary service units (PSUs, a measure of video, voice and broadband customers) in Arkansas, Illinois, Indiana, Louisiana, Mississippi, Missouri and Texas to Cable One. Phoenix (AZ)-based Cable One had 315,589 residential video customers, 466,668 residential broadband customers and 100,510 residential telephony customers at the end of the third quarter.