WOW secures cable franchise transfers
WideOpenWest finished the 115 cable TV franchise transfers it needed for its pending purchase of Ameritech New Media's cable systems in certain metro areas.
The transfers — for systems in the Chicago, Cleveland, Columbus and Detroit metro areas — are part of a previously announced acquisition deal.
The company isn't disclosing financial terms of the deal, says WOW spokesman Michael Steinkirchner. "It's obviously a huge step," he says.
The next steps entail more details of the acquisition process, he says, but the deal is "on track" and is expected to close Nov. 30.
At the confirmation of the sale in May, WOW said the systems will become a platform for introducing digital video and broadband high-speed Internet service to 2 million Midwest households.
The systems are in good condition and customer satisfaction ratings are high, WOW President and CEO Mark Haverkate said at the time. The company will use that as a base to launch new services and compete with incumbent providers, and WOW vowed then there will be no interruption during the transition.
In July, the U.S. Federal Trade Commission cut short its usual waiting period for the acquisitions, paving the way for WOW to move forward.
WOW says the acquisition will make it the country's 13th largest cable operator.