Cablevision announced that they will be paying over $1.36 billion for cable services operator company Bresnan Communications. One of Bresnan Communications owners include Providence Equity Partners and Quadrangle Group. The deal is all-cash. Cablevision beat other companies at the acquisition. Another bidder included Suddenlink Communications.
Providence Equity, Quadrangle Group, and Bresnan founder William J. Bresnan bought a majority control of the cable services operations company from Comcast for $525 million in 2003. Bresnan passed away last year.