In the media: WOW woos Knology on potential sale
WideOpenWest and its private equity owners are taking a serious look-see at putting a bid on Knology.
According to a story by Dow Jones Newswires, WideOpenWest, or WOW, and majority owner Avista Capital Partners, a private equity fund, are considering the price and the financing necessary to buy Knology. While other private equity funds have kicked the tires on buying up Knology, WOW is currently the most likely potential buyer.
Late last month, The Wall Street Journal reported that Knology, which serves business and residential customers in Alabama, Florida, Iowa, Kansas and Tennessee, had hired a financial advisor to help it explore a potential sale. The Journal speculated that a deal for Knology could be in the range of $1.5 billion.
Time Warner Cable paid $3 billion for its purchase of Insight Communications. Two years ago, Cablevision Systems emerged as the winning bidder for Bresnan Communications by paying $1.365 billion.
In its recent year-end earnings report, Knology said it had 800,000 total subscribers and $518.6 million in revenue.