Suddenlink announced this morning that it had signed a definitive agreement to purchase four systems in Texas from Northland Communications.
The Northland systems operate in and around Gun Barrel City, Flint, and New Caney, Texas. Financial details of the acquisition weren’t available. The deal is slated to close in the first quarter of 2014, subject to customary closing conditions and regulatory approvals.
The Northland cable systems involved in the transaction serve more than 12,000 residential and nearly 300 commercial customers, representing more than 18,700 primary service units (PSUs) on a combined basis. Suddenlink officials said there was an opportunity to interconnect the Northland systems with nearby Suddenlink systems in Terrell, Tyler, and Kingwood, Texas.
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 was reportedly interested in buying the former Bresnan Communications systems on two occasions. Suddenlink lost out to Cablevision two years ago, and then to Charter Communications earlier this year.