Grande Communications Up for Sale
Cable Operator Hires Waller Capital to Help It Explore Strategic Alternatives
By Jon Hemingway -- Broadcasting & Cable, 1/18/2008 6:06:00 AM MT
Grande Communications is putting itself on the block. The San Marcos, Texas-based cable operator hired Waller Capital to help it explore strategic alternatives, including the possible sale of the company.
In a written statement, Grande announced that its board of directors “has authorized the company to explore all of its strategic alternatives to enhance shareholder value.” However, that may not necessarily lead to any substantive conclusion, according to the company.
Grande recorded a net loss of $35 million in the first nine months of 2007 on $147.5 million of revenue, according to a Securities and Exchange Commission filing. Revenue was up about 3% from the same period in 2006 while net loss narrowed by 4%.
Waller served as advisor on various cable-system sales, including those for Northland Cable Television, WideOpenWest and Bright House Networks.
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