"Cable One Inc. and Mega Broadband Investments Holdings (MBI) have entered into a definitive agreement under which Cable One will acquire the remaining portion of MBI that it does not already own. MBI, which operates under the Vyve Broadband brand, provides broadband, fiber connectivity, and video and voice services to the southwest, northwest, and mid-south. It had about 210,000 residential and business data customers and 675,000 passings as of the end of last September."
""MBI has developed an excellent network in geographies that will be complementary to our existing footprint, enable us to expand our overall market footprint and enhance our long-term growth prospects. Their operating model and local-first focus is in line with our own operating philosophy and we look forward to combining with them and welcoming their exceptional team of associates to Cable One.""
Cable One will acquire the remaining 55% of Mega Broadband Investments Holdings (MBI), operator of the Vyve Broadband brand, with the deal expected to close in the fourth quarter and a purchase price projected between $475 million and $495 million. MBI serves the southwest, northwest, and mid-south with broadband, fiber, video and voice services and had about 210,000 residential and business data customers and 675,000 passings as of last September. Cable One currently owns 45% of MBI; the remainder is held by affiliates of GTCR LLC and MBI management. Post-closing total net indebtedness is projected at $845 million to $895 million, from long-term loans maturing in November 2027. Cable One previously invested $950 million over three years to deploy 10G services across its brands.
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