Charter closes Optimum West acquisition
Picking up 375,000 subscribers in Colorado, Montana, Wyoming and Utah, Charter Communications (Nasdaq: CHTR) said Monday that it closed the $1.6 billion acquisition of Cablevision's (NYSE: CVC) Optimum West cable systems.
The Stamford, Conn.-based cable MSO, which is rumored to be eying other acquisitions following an equity investment earlier this year from Liberty Media (Nasdaq: LMCA) and cable pioneer John Malone, didn't say when it will convert the systems to its brand, billing platform and programming lineup.
"These former Bresnan properties, which under Cablevision's leadership became some of the fastest growing cable properties in the United States, are an ideal fit for Charter, and we anticipate a smooth and efficient integration process," said Charter Communications CEO Tom Rutledge, who resigned from Cablevision in 2011.
Cablevision acquired the Optimum West systems for $1.37 billion in 2010 from Bresnan Communications. Several former Bresnan executives formed a new cable MSO earlier this year called BCI Broadband, and have purchased cable systems from James Cable and Allegiance Communications.
- see the release
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