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Charter Communications Inc Completes Acquisition of Optimum West from Cablevision Systems Corp


Monday, 1 Jul 2013 01:45pm EDT 

Charter Communications Inc and Cablevision Systems Corp announced the completion of Charter's $1.625 billion acquisition of Cablevision's Bresnan Broadband Holdings, LLC (Optimum West). As a result of the acquisition, Charter adds cable operating systems in Colorado, Montana, Wyoming and Utah that pass more than 660,000 homes and serve 375,000 residential and business customers. Charter funded the acquisition of Optimum West with $1.5 billion of committed bank financing to Charter Communications Operating, LLC, and liquidity from cash on hand and its revolving credit facility. Credit Suisse and Goldman Sachs acted as financial advisors to Charter, and also provided debt financing commitments for the transaction. Citi and J.P. Morgan acted as co-lead financial advisors to Cablevision. BofA Merrill Lynch and Guggenheim Securities provided financial advice to Cablevision. Sherman & Howard acted as legal counsel for Charter and Sullivan & Cromwell LLP as legal counsel to Cablevision. 

Company Quote

153.27
-0.44 -0.29%
1:58pm EDT