Julie & Holleman LLP Investigates WOW Acquisition by Crestview Partners, DigitalBridge Investments

Julie & Holleman LLP is investigating the proposed acquisition of WideOpenWest by Crestview Partners and DigitalBridge Investments. The law firm has uncovered conflicts of interest and believes the $5.20 per share deal price is too low. Wall Street analysts have established one-year stock price targets averaging $5.65 per share, with a high target of $6.50 per share. The company has a bright future as one of the nation's leading broadband providers.

Julie & Holleman LLP is currently investigating the proposed acquisition of WideOpenWest by Crestview Partners and DigitalBridge Investments. The law firm has expressed concerns about potential conflicts of interest and has argued that the offered deal price of $5.20 per share is too low, given the strategic value of WideOpenWest's broadband infrastructure assets.

WideOpenWest, a leading broadband provider, entered into a definitive agreement on August 8, 2024, to be acquired by DigitalBridge Group and Crestview Partners in a $1.5 billion transaction. The deal offers public stockholders $5.20 per share in cash, representing a 37.2% premium to the unaffected price of $3.79 and a 63% premium to the recent closing price. The acquisition is expected to close by the end of 2025 or in the first quarter of 2026, subject to stockholder and regulatory approvals [1].

WideOpenWest's second-quarter 2025 results showed a 9.2% drop in quarterly revenue, driven by customers moving away from legacy video services and a decrease in total service volume. Despite this, the company reported a 0.4% increase in adjusted EBITDA and a best-in-class margin of 48.8%. However, net losses widened to $17.8 million, highlighting ongoing pressures. The company's fiber strategy, which added 15,500 new Greenfield homes and 2,300 subscribers last quarter, is a significant growth driver [2].

Julie & Holleman LLP has uncovered potential conflicts of interest and believes the $5.20 per share deal price does not reflect the strategic value of WideOpenWest's broadband infrastructure assets. Wall Street analysts, on average, have established one-year stock price targets of $5.65 per share, with a high target of $6.50 per share, suggesting a higher valuation [2].

The transaction, if approved, will allow WideOpenWest to pursue capital-intensive network expansions and technology upgrades without the quarterly earnings pressure of public markets. DigitalBridge's expertise in digital infrastructure investment combined with Crestview's existing knowledge of WideOpenWest creates a strong ownership foundation for the company's next growth phase [1].

References:
[1] https://www.ainvest.com/news/julie-holleman-llp-investigates-proposed-acquisition-wideopenwest-crestview-partners-2508/
[2] https://finimize.com/content/wideopenwest-gets-bought-out-after-a-tough-quarter