WideOpenWest (WOW!), a major U.S. broadband provider, has agreed to be acquired by DigitalBridge Investments and Crestview Partners for $5.20 per share in an all-cash deal valued at around $1.5 billion.
Crestview, already WOW!’s largest stockholder, will roll over its shares and vote in favor of the transaction.
Approved unanimously by WOW!’s Board and expected to close by early 2026 pending shareholder and regulatory approvals, the deal will result in WOW! being delisted from public exchanges.
Advisors: Centerview Partners is acting as the sole financial advisor to the special committee, and Wachtell, Lipton, Rosen & Katz is acting as its legal counsel. LionTree Advisors is acting as the sole financial advisor to DigitalBridge and Crestview. Morgan Stanley and Goldman Sachs are serving as structuring advisors to the transaction. Simpson Thacher & Bartlett is acting as legal counsel to DigitalBridge, and Davis Polk & Wardwell LLP is acting as legal counsel to Crestview.
KEY QUOTES:
“Today’s announcement is an exciting step for WOW!’s investors, employees and customers. WOW!’s next chapter with DigitalBridge and Crestview will bring new and exciting opportunities to our stakeholders and enhance our position as a trusted provider of fast, reliable and affordable broadband solutions.”
WOW! CEO Teresa Elder
“This transaction offers significant and immediate value to stockholders, and after a thorough review process the special committee concluded that the consideration offered in this transaction, which represents a significant premium to WOW!’s trading price, offers the best available value to WOW! Stockholders.”
Phil Seskin, Chair of the special committee of the WOW! Board of Directors.
“We are excited to partner with Crestview to support this next phase of growth at WOW!. We believe this transaction positions the company to deliver meaningful benefits to its customers and the communities it serves. We intend to invest in expanding and upgrading WOW!’s networks, adopting new technologies, and ensuring the organization has the resources and support needed to continue delivering fast, reliable internet service and a high-quality customer experience at competitive prices.”
Jonathan Friesel, Senior Managing Director and Head of Fiber at DigitalBridge
“This is an exciting day for WOW!, its customers and team members. Through this transaction, the company will deliver immediate value to WOW! stockholders, while bringing in an ideal capital partner in DigitalBridge to support WOW!’s long-term strategy, including geographic expansion and network technology upgrades. We look forward to partnering with DigitalBridge in the company’s next chapter as a private company.”
Brian Cassidy, President and Head of Media at Crestview Partners
