Charter Buys Optimum West for $1.625B

Deal expected to close in Q3

By Mike Farrell, Multichannel News -- Broadcasting & Cable, 2/7/2013 4:40:59 PM

Ending minutes of speculation, Charter Communications confirmed it has acquired Cablevision Systems' Optimum West properties for $1.625 billion.

Optimum West, the former Bresnan Communications, has about 304,000 customers in Colorado, Wyoming, Utah and Montana.

"With this transaction, Charter will acquire some of the fastest growing cable assets in the United States," said Charter CEO Tom Rutledge in a statement . "These former Bresnan properties operate in growing communities, and the network, employees and customer base have been well served for many years. In particular, over the past two years Cablevision, as Optimum West, has grown video, Internet and telephone customers through the execution of a product and service strategy, which is the same as the one we recently implemented at Charter. Optimum West is an ideal fit for Charter and we anticipate an efficient integration process."

Cablevision bought the former Bresnan properties in 2010 for about $1.4 billion. The company put the systems on the block late last year after receiving several  inquiries from outside parties.

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