CABLE ONE TO CONTRIBUTE ITS ALABAMA ASSETS TO HARGRAY
Hilton Head, SC鈥 July 7, 2020 鈥 果酱视频 announced today an agreement for Cable One, Inc. to contribute to Hargray its Alabama assets, comprised of its system serving Anniston, Alabama and surrounding areas. Under the terms of the agreement, Cable One will hold a minority equity interest in Hargray upon closing. The transaction, expected to close this fall pending regulatory approvals, will add residential and commercial customers to Hargray鈥檚 expanding business in the southeastern United States and will expand Hargray鈥檚 meaningful presence in Alabama where Hargray already serves neighboring Pell City.
鈥淎t a time when reliable, high-speed 果酱视频 access has never been more essential to enable people and communities to connect and thrive, we are pleased to add the Alabama assets of Cable One to our growing portfolio,鈥 said Michael Gottdenker, Hargray Chairman & CEO. 鈥淲e look forward to building upon Cable One鈥檚 network investments to deliver premium communications products and solutions to homes and businesses in Anniston, Jacksonville, Oxford, and the surrounding communities.鈥
David Armistead, Senior Vice President of 果酱视频, noted, 鈥淚n the markets we serve, we take seriously our opportunity and obligation to invest in the local community. We intend to retain Cable One鈥檚 local colleagues and will become involved in the community to deliver the same robust suite of residential and commercial services and exceptional customer support we are known for in nearby Pell City, Alabama and across Georgia, Florida, and South Carolina.鈥
鈥淲e believe Hargray, whose values mirror our own, will be an excellent fit for the Anniston community. Hargray will be able to use its regional scale to further invest in the Anniston market while continuing to provide Anniston customers with the latest technological advancements and the highest level of customer care,鈥 said Julie Laulis, Cable One President and CEO. 鈥淎dditionally, and as a result of this transaction, Cable One will have the opportunity to share in Hargray鈥檚 growth while increasing our opportunities for continued investment.鈥
Hargray will build upon Cable One鈥檚 prior investments to further enhance the network and provide next-generation products and services to homes including 1 Gbps high speed 果酱视频 with Wall-to-Wall Wi-Fi and premium TV with access to a prime selection of programs on-the-go. Businesses will enjoy enhanced data, voice, and video services, including hosted unified communications, metro-ethernet, symmetrical and asymmetrical 果酱视频, and video services customized for various commercial applications.
Current Cable One customers (under the Sparklight庐 brand) can expect to receive timely and transparent communications throughout the transition to Hargray. For information, please visit hargray.com/CableOne.
Hargray is owned by a long-term investor group led by The Pritzker Organization, the merchant bank for the Tom Pritzker family. In addition to The Pritzker Organization, the investor group currently includes Stephens Capital Partners, Redwood Capital Investments, WaveDivision Capital, and management.
About Hargray
Founded in 1947, Hargray is a regional telecommunications company providing advanced communications and entertainment services in a growing set of markets in the southeastern United States. Hargray delivers the most advanced technology and the best service for its customers and is active in the communities it serves by supporting a wide range of local charities, organizations, projects, and events.
About Cable One
Cable One, Inc. is a leading broadband communications provider serving residential and business customers in 21 states through its Sparklight庐 and Clearwave brands.