Suddenlink wraps up Northland deal
Suddenlink Communications announced it has completed its purchase of four Texas-based systems from Northland Communications.
With the completion of the deal, which was first announced in October, Suddenlink added 12,000 residential and nearly 300 commercial customers, representing more than 18,700 primary service units or PSUs on a combined basis. Financial terms of the acquisition weren’t available.
The systems operate in and around Gun Barrel City, Flint, and New Caney, Texas. The deal provided synergies with some of Suddenlink’s adjoining systems in Texas. Suddenlink officials said there was an opportunity to interconnect the Northland systems with nearby Suddenlink systems in Terrell, Tyler, and Kingwood, Texas, respectively.
“We’re pleased to complete this acquisition of systems adjacent to communities in Texas we already serve. We’re excited about the opportunity to further enhance TV, Internet, and phone services in these areas, for the benefit of our newest customers,” said Suddenlink Chairman and CEO Jerry Kent. “We’d also like to take this opportunity to welcome to Suddenlink the very capable and experienced group of employees joining us from Northland.”
Suddenlink said it expected to keep substantially all of the Northland local employees and planned too communicate specific plans for the acquired systems to customers and community leaders in the coming months.
RBC Capital Markets served as the exclusive merger and acquisition advisor to Northland in the transaction.
Northland, which was founded in 1981 as Northland Cable Television, started out offering video services to its subscribers. The company added voice and data services and currently offers various double play and triple play bundles. Northland also has business services in its footprint. Three years ago the company changed its name to Northland Communications.
Suddenlink is the nation’s seventh-largest cable operator, serving approximately 1.4 million residential and commercial customers primarily in Arkansas, Louisiana, North Carolina, Oklahoma, Texas, and West Virginia.
Suddenlink was reportedly interested in buying the former Bresnan Communications systems on two occasions. Suddenlink lost out to Cablevision three years ago, and then to Charter Communications last year.