Suddenlink buying Northland cable systems in 3 Texas towns
Suddenlink Communications said it agreed to acquire cable systems counting 12,000 residential subscribers in Gun Barrel City, Flint and New Caney, Texas, from Northland Communications.
The St. Louis, Mo.-based MSO owns systems in several other parts of Texas. It noted in Thursday's announcement that it "sees an opportunity" to interconnect the Northland properties with systems it owns in nearby Terrell, Tyler and Kingwood, Texas.
Suddenlink said the Northland systems also count about 300 commercial customers.
Suddenlink had about 1.2 million basic video subscribers at the end of the second quarter on systems in Texas, Virginia, Louisiana, Arkansas, North Carolina, Oklahoma, Arizona, Missouri, California and Ohio. The company has seen growth in broadband-only customers, with non-video customers accounting for 19.2 percent of its total customer relationships at the end of Q2. That's an increase of 11.8 percent compared to the same period in 2012.
RBC Capital Markets brokered the deal for Northland. Suddenlink said it expects the acquisition to close in the first quarter of 2014.
- see the release
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