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The Midwestern cable company Wide Open West which operates in Southeastern Michigan and across parts of Illinois, Indiana and Ohio has, in effect, been sold to Avista Capital Partners, a New York-based private equity company.
The deal will take several months to go through legal review and franchise agreement procedures with the various local governments that WOW deals with. Terms of the agreement were not disclosed.
Mark Dineen, WOW’s Michigan Senior Vice President and General Manager, tells me the sale will be “invisible” to the cable company’s employees, Internet and cable TV customers. “This will be seamless,” he said. “This is really a stock transfer agreement with Avista becoming the majority owner.”
The company’s name will stay the same, rates will not be changed, and there are no changes in employees planned, said Dineen.

This entry was posted on Wednesday, December 14th, 2005 at 2:30 pm and is filed under Cable. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.