On December 20, Cable One, Inc. announced that it has amended the terms of its investment in Mega Broadband Investments Holdings LLC (MBI), a move that will provide timing flexibility for Cable One’s potential complete acquisition of MBI.
As part of the amended partnership agreement, Cable One, which currently owns 45% of MBI, has paid $250 million and the proceeds from $100 million of new MBI debt to the holders of the other 55% of MBI: affiliates of GTCR LLC and MBI management. Cable One reports that the combined $350 million payment will reduce the purchase price payable by Cable One on a dollar-for-dollar basis for the remaining 55% interest in MBI.
Cable One CEO Julie Laulis said the company’s strategic investment in MBI reflects its commitment to providing high-speed internet in rural America.
“We continue to value MBI for all the reasons that first drew us to them: their commitment to providing leading broadband services in rural markets, their track record of strong growth and impressive potential for future growth, as well as their exceptional team,” said Laulis in a press release.
As part of the amended agreement, the acquisition can occur no earlier than October 1, 2026, unless Cable One chooses to close the transaction earlier. Cable One reports that the purchase price payable for the acquisition will range between $410 million and $550 million.
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Hayden Beeson
Hayden Beeson is a writer and editor with over seven years of experience in a variety of industries. Prior to joining Lightwave and Broadband Technology Report, he was the associate editor of Architectural SSL and LEDs Magazine.