Buckeye Cablesystem's parent buys MSO in Mississippi
Block Communications, the parent of Buckeye Cablesystem, has purchased MetroCast Mississippi, an MSO with systems dotted across Mississippi, from Harron Communications.
This is the second acquisition by Block Communications in the last week; earlier the company purchased Line Systems, a business services company that will be merged with another Block subsidiary, Buckeye Telesystems.
Block Communications did not disclose how much it is paying for MetroCast. Cable systems have been selling for somewhere $3,000 and $4,000 per subscriber; that would make MetroCast Mississippi worth somewhere in the neighborhood of $150 million.
Buckeye Cablesystem has about 130,000 subscribers, mostly in Ohio and Michigan. MetroCast provides video, Internet and phone services to 46,000 customers in 71 communities in 16 counties of Mississippi, representing 61,000 connections. The company has 100,000 homes passed.
Block Communications said it would operate MetroCast as a subsidiary. The combination of the two cable operators would give Block control of roughly 176,000 subscribers. The company is in the midst of an upgrade and plans to be entirely digital by year’s end.