WOW! and Clarity Telecom have entered into a definitive agreement under which Clarity will acquire WOW!'s Rapid City and Sioux Falls, SD, systems for approximately $262 million in cash, subject to certain adjustments set forth in the agreement. The sale is expected to close in the late third or early fourth quarter of 2014, following the satisfaction of regulatory requirements and other customary closing conditions.
The South Dakota systems had total customers and RGUs of approximately 52,700 and 110,600, respectively, as of March 31, and generated annual revenues of approximately $81.1 million during 2013.