Providence's Bresnan attracts 7 bids: source

NEW YORK/PHILADELPHIA Wed Jun 9, 2010 10:47pm EDT

Related Topics

NEW YORK/PHILADELPHIA (Reuters) - Cable television company Bresnan Communications, owned by private equity firm Providence Equity Partners, received seven bids of more than $1 billion, a source familiar with the situation said on Wednesday.

Bidders included Cablevision Systems Corp (CVC.N), Suddenlink Communications and media mogul John Malone, said the source, who declined to be named. The source was not authorized to speak with the media.

Two separate sources said bids for Bresnan were due on Wednesday.

Cablevision Systems declined to comment.

Bresnan, which was founded in 1984, provides communications services such as high-speed Internet access, high-definition television, video-on-demand, and digital telephone to residential and business customers.

Bresnan serves more than 320,000 customers in Colorado, Montana, Wyoming, and Utah, according to its website. The company's auction follows last year's death of founder William Bresnan.

Providence and Bresnan could not be immediately reached for comment. Cablevision, Suddenlink and Malone also could not be immediately reached for comment.

(Reporting by Megan Davies and Jessica Hall; Editing by Gary Hill, Bernard Orr)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.