Grande Communications Up for Sale
Cable Operator Hires Waller Capital to Help It Explore Strategic Alternatives
By Jon Hemingway -- Broadcasting & Cable, 1/18/2008 8:06:00 AM
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%.
With just four months of experience with Grande, my impression as a customer is that the service is tops for the cost; and tops compared to any other source known for similar services. Also, my impression is that Grande is undermarketed in the areas they serve. There is nothing like the effectiveness of positive word of mouth. It doesn't appear that it is being fostered.
Keep up the good work!
L.J. "Jim" Beckman
Note: I mention this to you folks with particular attention to the financial losses. There is room for improvement.
Jim Beckman - 2/28/2009 11:01:34 AM EST
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