Cablevision Completes $1.3 Billion Bresnan Buy

Cablevision Systems (www.cablevision.com) has completed its acquisition of Bresnan (www.bresnan.com) through a newly-formed subsidiary. With the completion of the transaction, Cablevision adds systems serving approximately 297,000 basic cable TV subscribers and ...

Cablevision Systems (www.cablevision.com) has completed its acquisition of Bresnan (www.bresnan.com) through a newly-formed subsidiary. With the completion of the transaction, Cablevision adds systems serving approximately 297,000 basic cable TV subscribers and more than 629,000 homes passed in Montana, Wyoming, Colorado and Utah to its New York-area cable system and operations.

The Bresnan acquisition is structured as a newly formed, independent, unrestricted subsidiary of Cablevision. The transaction was valued at $1.365 billion, subject to certain adjustments, and was financed using an equity contribution by Cablevision of approximately $400 million and non-recourse debt of approximately $1 billion.
More in Home