Advisors queue up for Mediacom, Commisso on bid proposal
Mediacom Communications has lined up advisors to assist it in evaluating the non-binding proposal by chairman, founder and CEO Rocco Commisso to take the company private.
Mediacom’s special committee of its board of directors announced that it had retained Barclays Capital as its financial advisor to assist in the review of Commisso’s May 31 bid.
The special committee also hired Simpson Thacher & Bartlett LLP to provide legal advice.
On the other side of the proposal, Commisso has advised Mediacom that he has retained J.P. Morgan Securities Inc. and BofA Merrill Lynch as his financial advisors, and Baker Botts L.L.P. as his legal advisor.
Commisso needs the approval of Mediacom’s board and stockholders to take the company private.
Mediacom, which serves 1.3 million subscribers, with a large chunk of that number based in Iowa, increased its revenue-generating units in the first quarter but lost 4,000 basic video subscribers.