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Midcontinent wraps up deal with US Cable

Tue, 10/04/2011 - 8:35am
Mike Robuck

Midcontinent Communications announced yesterday that it has completed the purchase of some systems in Minnesota and Wisconsin from US Cable.

The US Cable systems pass approximately 86,000 homes and serve approximately 33,000 customers. The transaction was first announced in June, and the terms of the deal were not disclosed.

Waller Capital Partners acted as the exclusive financial advisor to US Cable, while RBC Daniels acted as the exclusive financial advisor to Midcontinent Media.

The deal leaves US Cable with about 117,000 subscribers in Colorado, Florida, Georgia, New Mexico, South Carolina and Texas.

Midcontinent provides triple-play services to more than 275,000 residential and business customers in North Dakota, South Dakota and Minnesota.

Also in June, Charter Communications closed a deal to buy systems in Missouri from US Cable that served approximately 16,000 subscribers.

The acquisition by Charter was slated to close in the third quarter of this year. Financial terms weren't available. The Missouri systems included the communities of Hannibal, Mexico and Moberly.

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