WOW! Broadband Provider to be Acquired by DigitalBridge and Crestview for $1.5B

WideOpenWest (WOW!) will be acquired by DigitalBridge Group and Crestview Partners in a $1.5 billion transaction. Public stockholders will receive $5.20 per share, a 63% premium over the recent closing price. The deal is expected to close by end of 2025 or Q1 2026, subject to approvals. Crestview Partners, WOW!'s largest shareholder, will roll over its entire stake, demonstrating confidence in the company's long-term potential under private management.

WideOpenWest, Inc. (NYSE: WOW), a leading broadband provider in the United States, has announced a definitive agreement for its acquisition by DigitalBridge Group, Inc. and Crestview Partners in a $1.5 billion transaction. The deal, expected to close by the end of 2025 or Q1 2026, involves an all-cash offer of $5.20 per share, representing a 63% premium over the recent closing price and a 37.2% premium to the unaffected price of $3.79 before the initial non-binding offer on May 2, 2024 [1].

The acquisition will be funded by affiliated investment funds of DigitalBridge Investments, LLC and Crestview Partners, with Crestview Partners, the largest shareholder of WOW!, rolling over its entire stake in the transaction. The price offered is a significant premium, reflecting the strong interest in WOW!'s business and growth potential.

The transaction is expected to bring immediate value to WOW! stockholders, with the company's CEO Teresa Elder expressing excitement about the new chapter under DigitalBridge and Crestview's leadership. DigitalBridge's Senior Managing Director, Jonathan Friesel, highlighted the potential for network expansion, technology upgrades, and improved customer service. Crestview Partners' President and Head of Media, Brian Cassidy, emphasized the partnership's potential to support WOW!'s long-term strategy, including geographic expansion and network technology upgrades [1].

The WOW! Board of Directors has unanimously approved the transaction, subject to stockholder and regulatory approvals. The transaction is expected to close by the end of 2025 or in the first quarter of 2026. Upon completion, WOW! will no longer be traded or listed on any public securities exchange [1].

DigitalBridge and Crestview are represented by Centerview Partners LLC, Wachtell, Lipton, Rosen & Katz, LionTree Advisors, Simpson Thacher & Bartlett LLP, and Davis Polk & Wardwell LLP, respectively [1].

References:
[1] https://www.prnewswire.com/news-releases/wideopenwest-wow-inc-to-be-taken-private-by-digitalbridge-group-inc-and-crestview-partners-in-1-5-billion-transaction-302526854.html