Suddenlink buys NPG Cable for $350 million
NPG Cable Inc. has agreed to sell all its cable properties to Suddenlink Communications for $350 million. Suddenlink expects to close the acquisition in the first quarter of 2011.
NPG's cable systems serve approximately 83,000 customers, representing about 210,000 revenue generating units, with operations in St. Joseph, Mo., Mammoth Lakes, Calif., and several clustered Arizona communities, including Flagstaff and Sedona, Lake Havasu and Kingman.
"This acquisition is a solid fit with our existing operations and we have a proven track record of serving similar communities. We have great respect for NPG and its owners, the Bradley family, and look forward to working with them on the transition," said Suddenlink CEO Jerry Kent in a prepared statement.
Suddenlink officials said there is an opportunity to interconnect those properties after the acquisition closes.
"The foundation of our success at NPG Cable for the last 45 years has been our family culture, where employees approach their daily work and make decisions as if they own the company," said Brian Bradley, NPG's chief administrative officer, in a prepared statement. "We are thrilled that Suddenlink, which has a great reputation, shares a similar culture."