Rural Broadband Investments (RBI) continued its program of consolidating rural cable operators with the acquisition of several cable systems in Illinois from Cass Cable TV.
There terms of the purchase were not announced.
RBI previously bought or invested in NewWave Communications, Cable Management Associates, the McDonald Cable/Cablevison systems, and City Cable from The City of Poplar Bluff, Mo.
RBI’s goal is to buy enough systems in small-to-mid sized rural markets to give it a total of 300,000-400,000 cable subscribers.
With Cass, RBI has pulled off a total of six acquisitions and now serves over 150,000 customers and passes more than 440,000 homes in Indiana, Missouri, Arkansas, Louisiana, Mississippi, Texas, Nevada, and Illinois.
The Cass systems in Illinois purchased by RBI serve Brighton, Carrollton, Jerseyville, Manchester, Roodhouse and White Hall.
Cass traces its history back to the Cass Telephone Co., founded in 1898. The company established cable service in 1965.
RBI plans to rollout enhanced services already available in its nearby NewWave markets.
“The Cass systems are an excellent add-on to our Southwest Illinois footprint,” said Phil Spencer, CEO of Rural Broadband Investments. “We intend to fiber tie these systems and offer additional HD channels, advanced commercial services and a more robust internet service.”
“It was a privilege to offer cable TV, internet and phone services in Greene, Scott and Jersey counties. Cass Cable TV has always been committed to the communities we serve. Always striving to offer top-notch products to our customers, Cass made many fiber enhancements that brought advanced services to the area,” said Chad Winters, vice president of Cass Cable TV. “We are pleased that NewWave Communications is going to take technology to the next level. Like Cass Cable TV, NewWave Communications recognizes the need for technology in rural areas."
RBI is a portfolio company of private equity firm GTCR, and is owned by GTCR and RBI management.