Suddenlink Communications has signed a definitive agreement to acquire NPG Cable and its subsidiaries from News?Press & Gazette Co. for approximately $350 million, subject to customary working-capital closing adjustments. Suddenlink expects to close the acquisition in the first quarter of 2011 and currently has sufficient existing liquidity sources to fund the transaction.
NPG’s cable systems serve approximately 83,000 customers, representing approximately 210,000 revenue generating units or RGUs, with operations in St. Joseph, Mo.; Mammoth Lakes, Calif.; and several, clustered Arizona communities, including Flagstaff and Sedona, Lake Havasu and Kingman.
Suddenlink has operations in Maryville, Mo., and Bishop, Calif., which are proximate to NPG’s cable systems in St. Joseph and Mammoth Lakes, respectively. Suddenlink officials said there is an opportunity to interconnect those properties after the acquisition closes.