Avista to buy WOW!
Avista Capital Partners has inked a deal to acquire WideOpenWest (WOW!), a cable operator that serves 1.4 million homes in parts of Illinois, Indiana, Michigan, and Ohio.
Terms of the deal were not disclosed, but Multichannel News has estimated it at about $800 million. Avista, a New York-based private equity firm, is acquiring WOW! from Oak Hill Capital Partners and ABRY Partners. The companies hope to close the deal by Q1 2006.
Plans are to retain the WOW! brand.
"The change in company ownership will be transparent to employees and customers," said WOW! President and CEO Coleen Abdoulah, in a statement.