A group led by DigitalBridge and Crestview Partners is moving forward with negotiations to acquire WideOpenWest (WOW), a broadband and cable services provider, in a potential deal that could conclude a year-long effort to take the company private, according to sources familiar with the talks.
The discussions between the bidding group and WideOpenWest have intensified in recent weeks, and the deal could come together in the next few weeks unless there are any unforeseen complications. However, the parties are still working through some of the deal’s terms, and it remains uncertain whether an agreement will be finalized.
In May, WideOpenWest received a non-binding offer from the group, valued at approximately $406 million, representing a 32% premium over the company’s closing price at the time. The latest market price of the company’s shares is near the offer price.
WideOpenWest, headquartered in Englewood, Colorado, provides broadband and cable services to nearly 2 million customers across the Midwest and Southeast United States. The company has also made efforts to restructure its debt in recent months, raising about $200 million in October.