DigitalBridge and Crestview complete $1.5 billion WOW acquisition

DigitalBridge Group Inc. (NYSE: DBRG) and Crestview Partners completed their take-private acquisition of WideOpenWest Inc., a fiber-broadband internet provider operating in 20 U.S. markets.

The transaction valued at approximately $1.5 billion provided WOW shareholders $5.20 per share in cash. WOW common stock is no longer traded on public exchanges following the completion of the deal.

WOW operates broadband services across Michigan, Alabama, Tennessee, South Carolina, Georgia and Florida, providing internet, cable television, phone and business services to residential and commercial customers.

"We are excited to complete this transaction and begin a new era of growth. We look forward to investing in network and customer experience enhancements, pursuing operational excellence, and delivering an exceptional connected experience over WOW's high-performance networks," said Jonathan Friesel, Senior Managing Director and Head of Fiber at DigitalBridge.

Brian Cassidy, President and Head of Media at Crestview Partners, said, "As a private company, WOW will have strategic flexibility and resources to compete more effectively in its markets and pursue long-term growth."

DigitalBridge manages $108 billion of infrastructure assets and focuses on digital infrastructure investments including cell towers, data centers and fiber networks. Crestview, founded in 2004, manages funds with over $10 billion of aggregate capital commitments.

Centerview Partners served as financial advisor to WOW's special committee, while LionTree Advisors advised DigitalBridge and Crestview. Morgan Stanley and Goldman Sachs provided structuring advice for the transaction.

You May Also Be Interested In