WideOpenWest Announces Major Acquisition Deal with DigitalBridge Group and Crestview Partners

WideOpenWest (WOW!) Taken Private in $1.5 Billion Deal

In an exciting development for investors and customers of WideOpenWest, Inc. (NYSE: WOW), the company has announced a definitive agreement to be taken private by DigitalBridge Group, Inc. and Crestview Partners for approximately $1.5 billion. The deal involves acquiring all outstanding shares not already owned by Crestview for $5.20 per share in cash, representing a notable premium of 37.2% over WOW's recent trading price before the initial offer and a significant 63% increase from the latest closing price prior to the announcement.

CEO Teresa Elder expressed satisfaction with the deal, noting that this transition marks a pivotal opportunity for all stakeholders involved with WOW!. The move aims to elevate WOW!’s credibility as a provider of high-speed broadband services while optimizing resources to enhance customer experiences.

The Big Picture

This acquisition is positioned not merely as a change in ownership but as a strategic partnership designed to propel WOW! into a new phase of growth. DigitalBridge and Crestview Partners plan to invest more heavily in WOW! with the objective of expanding and upgrading its networks. They aim to leverage new technologies that will ensure WOW! stays competitive in the bustling broadband market.

Jonathon Friesel, a senior managing director at DigitalBridge, highlighted that the collaboration plans to enhance customer service and broaden WOW!'s reach into various communities across the states it serves.

Investor Perspective

The agreement makes it clear that after thorough assessments, the special committee of WOW! Board of Directors unanimously endorsed this transaction. Crestview, as the largest shareholder, has committed to voting in favor of the deal, facilitating a smooth transition to private ownership.

Phil Seskin, the chair of the special committee, affirmed that this acquisition represents the best immediate value for WOW!’s shareholders, emphasizing that the premium on the share price underscores the strategic vision of this partnership.

Timeline and Future Steps

As for the timeline, this substantial deal is expected to finalize either by the end of the current year or in early 2026, pending approval from WOW! shareholders and necessary regulatory endorsements. This shift will lead to WOW! no longer being listed on public stock exchanges, marking a new chapter where it can operate free from the pressures and scrutiny of public markets.

About WOW!

WOW! has established itself as a strong competitor among broadband providers, servicing nearly two million residential and business customers across 20 markets, primarily located in the Midwest and Southeast regions of the United States. Its efficient network is tailored to provide high-quality internet services stacked with affordable options for various consumer needs. Being recognized as a top workplace reflects its commitment to exceptional service, both for customers and employees alike.

Looking Ahead

The agreement with DigitalBridge and Crestview signifies a pivotal moment for WOW!, granting them the leverage to pursue their long-term strategies without the burdens associated with public trading. With the backing of capable financial partners, WOW! is excited and ready to revamp its infrastructure to provide even higher quality services to its clientele. As the company shifts towards greater innovation and technology adaptation, stakeholders are optimistic about the future.

This acquisition not only highlights the dynamic nature of the broadband market but also illustrates the growing trend of digital infrastructure investments, reinforcing the need for fast and reliable internet solutions across the country. Indeed, with expected enhancements in capabilities, WOW! aims to strengthen its position in the broadband sector both in terms of reach and service quality.

In summary, WOW! is entering a transformative era, marked by a strategic partnership that promises to benefit both shareholders and customers significantly. As we look forward to 2026, the broadband landscape may witness noteworthy advancements stemming from this compelling acquisition.