DigitalBridge Group and Crestview Partners said affiliated investment funds have completed their previously announced take-private acquisition of WideOpenWest (WOW!), a U.S. provider of broadband internet services and connectivity solutions.
The transaction values WOW! at an enterprise value of approximately $1.5 billion. WOW! shareholders will receive $5.20 in cash per share, and the company’s common stock is no longer traded on any public securities exchange following the close.
DigitalBridge and Crestview said the deal is intended to support expanded fiber deployments, network modernization initiatives, and accelerated growth, with a focus on customer experience enhancements and operational improvements.
Centerview Partners served as the sole financial advisor to the WOW! board special committee overseeing the transaction evaluation, with Wachtell, Lipton, Rosen & Katz acting as legal counsel to the committee. LionTree Advisors acted as sole financial advisor to DigitalBridge and Crestview, while Morgan Stanley and Goldman Sachs served as structuring advisors. Simpson Thacher & Bartlett advised DigitalBridge, and Davis Polk & Wardwell advised Crestview.
DigitalBridge is a digital infrastructure-focused alternative asset manager investing across sectors including cell towers, data centers, fiber, small cells, and edge infrastructure.
KEY QUOTES:
“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.”
Jonathan Friesel, Senior Managing Director And Head Of Fiber, DigitalBridge
“As a private company, WOW! will have strategic flexibility and resources to compete more effectively in its markets and pursue long-term growth. We believe this strategic infrastructure investment will allow us to bring advanced technology to these markets more quickly and will strengthen WOW!’s competitive position.”
Brian Cassidy, President And Head Of Media, Crestview Partners
