Charter to buy Optimum West in $1.63B deal
NEW YORK — Charter Communications says it is buying cable company Optimum West from CableVision Systems Corp. for about $1.63 billion in cash.
Optimum West manages cable systems in Colorado, Montana, Wyoming, and Utah, with 304,000 video subscribers. Charter says the business is experiencing quick growth in video, Internet, and phone customers.
Charter, based in Stamford, Conn., says it has $1.5 billion in committed bank financing for the deal. The remaining costs will be paid with cash on hand and borrowing from its revolving credit facility. Charter expects the sale to close in the third quarter.
Cablevision corporate headquarters is in Bethpage. N.Y.
The Herald-Dispatch welcomes your comments on this article, but please be civil. Avoid profanity, obscenity, personal attacks, accusations of criminal activity, name-calling or insults to the other posters. Herald-dispatch.com does not control or monitor comments as they are posted, but if you find a comment offensive or uncivil, hover your mouse over the comment and click the X that appears in the upper right of the comment. If you do not want your comment to post to your personal Facebook page, uncheck the box below the comment.