Cebridge, buying Cox and Charter assets, may sell some N.C. syste...
Cebridge, buying Cox and Charter assets, may sell some N.C. systems it’s getting from Cox, said a source. The firm has set aside former Cox systems with about 150,000 customers for sale, said the person. At the $2,800 average…
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per- subscriber price S&P said Cebridge is paying for Cox systems overall, it could get $420 million in N.C. It agreed to buy Cox systems with about 940,000 subscribers (CD Nov 2 p8). “They basically had to buy the full package, and now they are stripping out the pieces they don’t want,” said Jefferies & Co. analyst Robert Routh: “When that sale takes place, how is that going to impact the value of other rural cable operators?” Cebridge is paying $3,200 for each of 240,000 cable customers in Charter systems it agreed to buy (CD March 1 p6), said S&P analyst Susan Madison in a report. That deal is expected to be completed in July, she wrote, declining to elaborate. A Cebridge spokesman declined to comment on the valuations or a possible asset sale.