Cable One doubles down on fiber with $50 million Ziply investment

Cable One stuck invested $50 million to acquire a minority stake in northwestern US operator Ziply Fiber, part of the $450 million new funding Ziply received. WaveDivision Capital and Searchlight Capital Partners were among the other investors who contributed. Cable One handed Ziply an initial $22.2 million in November 2022 and expects to dole out the remaining $27.8 million before the end of September 2023. The investment netted Cable One less than a 10% equity interest in Ziply. The move is Cable One’s latest in the fiber realm. At the start of 2022, Cable One teamed up with three private equity companies to form a joint venture called Clearwave Fiber, aiming to reach 500,000 rural locations by 2027. Cable One contributed assets from its Illinois-focused Clearwave Communications and South Carolina-based Hargray Communications businesses as part of the deal. Shortly after its formation, Clearwave Fiber acquired the assets of Kansas-based operator RG Fiber to gain a foothold in the state. Clearwave Fiber revealed it has already crossed the 100,000 passings mark. By the end of 2022, the company said its services will be available in a total of 35 markets across four states: Illinois, Kansas, Georgia, and Florida.