August 26, 2011
Wave Broadband and WOW Split Up Broadstripe
Wave Broadband and WOW! Internet, Cable, and Phone have entered into an agreement to purchase substantially all of the assets of Broadstripe, a provider of residential and commercial bundled communications services. Broadstripe, which filed for Chapter 11 bankruptcy protection in January 2009, operates in Maryland, Michigan, Oregon, and Washington.
Wave will acquire the Washington and Oregon properties, which reach more than 103,000 homes. Wave currently operates in California, Oregon, and Washington, and serves more than 300,000 customers.
WOW! will add 92,000 households from Broadstripe's Michigan systems to the 1.5 million households it already serves in Illinois, Indiana, Michigan, and Ohio.
Broadstripe's Maryland system operating in Anne Arundel County will be acquired by a newly formed entity, Anne Arundel Broadband, LLC, and will be run by industry veterans to include John Bjorn, Broadstripe's current executive vice president/Regional Operations.
The sale must be approved by the bankruptcy court and is expected to take up to four months to be completed.