It’s official: Troy Cable has bought a system that serves the Alabama communities of Ozark and Troy from Knology.
According to a story in the Dothan Eagle, Troy Cable President William Freeman signed a letter earlier this month that was sent to potential customers confirming that the system had been purchased from Knology.
As noted before, Knology purchased the Troy/Ozark system in February , along with a system in Fort Gordon, Ga., from Cobridge Communications for $30 million.
In last week’s second-quarter earnings report , Knology said it sold the Troy/Ozark system for $11 million. A portion of the proceeds from the sale were used to make a $6.8 million incremental investment in Tower Cloud, a wireless backhaul fiber business that Knology said offered significant strategic opportunities for the company.
In October, Troy/Ozark and Fort Gordon were two of the 36 systems that Cobridge bought from Charter Communications . According to the Dothan Eagle, Troy Cable also bought the office that housed Charter Communications’ office in Troy, which has been closed for years.
With the deal now completed, Troy Cable needs to sort out the various plans that were offered to subscribers by the different cable operators, according to the newspaper story. At one point this summer, Troy Cable and Cobridge sales people were going door-to-door to outline their respective subscription plans.
A Troy Cable employee told the paper that he didn’t anticipate any significant changes in equipment or pricing, but Troy Cable is reviewing the Cobridge customer contracts.
Troy Cable, which started offering its service in Ozark last year, will also likely face negotiations for a new franchise agreement with the city since it no longer has a cable competitor in the area.