St. Louis Post-Dispatch (Missouri)
April 25, 2006 Tuesday
By Jerri Stroud, St. Louis Post-Dispatch
From Lexis Nexis
Jerald L. Kent is changing the name of his cable company to Suddenlink Communications, abandoning his practice of naming his companies with words beginning with "c."
Cebridge Connections, which Kent heads as chief executive, will be renamed Suddenlink next month, after the completion of its purchase of 940,000 subscribers from Cox Communications Inc. for $2.2 billion.
Cebridge expects to finance the deal with a $2 billion term loan and a $200 million revolving-credit facility. Kent will contribute $30 million in cash equity, and Cequel III partner Howard Wood will contribute $13 million. A total equity contribution of $621 million is part of the deal.
Suddenlink's parent company will be Cequel Communications LLC, part of the Cequel III group that Kent formed after leaving Charter Communications Inc. in 2001.
"Jerry said the superstition (of naming companies with a 'c') was broken after AAT Communications Inc.," the communications-tower company that Cequel and other investors are selling for $1 billion, said Pete Abel, a spokesman for Cequel III.
The new name is designed "to signal a new company that's very different," Abel said.
Landor Associates of New York came up with the name. Schupp Co. of St. Louis designed the logo.
The Cox purchase, which could be completed next week, will give Suddenlink 1.2 million subscribers. When the company completes another deal to buy 240,000 subscribers from Charter Communications Inc., it will have 1.4 million subscribers.
More than 70 percent of Suddenlink's subscribers will be in six states: Arkansas, Louisiana, North Carolina, Oklahoma, Texas and West Virginia.
Cebridge also is selling about 90,000 subscribers once the Cox deal closes. Abel said the buyer, another private company, has yet to announce the deal.