Cable ONE Completes Acquisition of Fidelity Communications
October 01 2019 - 9:15AM
Business Wire
Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable ONE”)
today announced the completion of its acquisition of the data,
video and voice business and certain related assets of Fidelity
Communications Co. (collectively, “Fidelity”).
Fidelity provides connectivity services to residential and
business customers throughout greater Arkansas, Illinois,
Louisiana, Missouri, Oklahoma and Texas. The transaction
complements and expands Cable ONE’s footprint by approximately
190,000 homes passed and adds approximately 87,000 customers.
“The addition of Fidelity will create excellent opportunities
for associates, a superior experience for customers and increased
value for our shareholders,” said Julie Laulis, President and CEO
of Cable ONE. “We take great pleasure in welcoming Fidelity
associates to the Cable ONE team, and as we begin to integrate our
businesses in the coming months, our commitment to the communities
we serve will remain our top priority.”
About Cable ONE
Cable One, Inc. (NYSE: CABO) is a leading broadband
communications provider serving more than 900,000 residential and
business customers in 21 states through its Sparklight™ and
Clearwave brands. Sparklight provides consumers with a wide array
of connectivity and entertainment services, including high-speed
internet and advanced Wi-Fi solutions, cable television and phone
service. Sparklight Business and Clearwave provide scalable and
cost-effective products for businesses ranging in size from small
to mid-market, in addition to enterprise, wholesale and carrier
customers.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This communication may contain “forward-looking statements” that
involve risks and uncertainties. These statements can be identified
by the fact that they do not relate strictly to historical or
current facts, but rather are based on current expectations,
estimates, assumptions and projections about the Company’s
industry, business, financial results and financial condition.
Forward-looking statements often include words such as “will,”
“should,” “anticipates,” “estimates,” “expects,” “projects,”
“intends,” “plans,” “believes” and words and terms of similar
substance in connection with discussions of future operating or
financial performance. As with any projection or forecast,
forward-looking statements are inherently susceptible to
uncertainty and changes in circumstances. The Company’s actual
results may vary materially from those expressed or implied in its
forward-looking statements. Accordingly, undue reliance should not
be placed on any forward-looking statement made by the Company or
on its behalf. Important factors that could cause the Company’s
actual results to differ materially from those in its
forward-looking statements include government regulation, economic,
strategic, political and social conditions and the following
factors:
- the effect of the transaction on the Company’s and Fidelity’s
ability to retain and hire key personnel and to maintain
relationships with customers, suppliers and other business
partners;
- risks related to management’s attention being diverted from the
Company’s ongoing business operations;
- uncertainties as to the Company’s ability and the amount of
time necessary to realize the expected synergies and other benefits
of the transaction;
- the Company’s ability to integrate Fidelity’s operations into
its own;
- rising levels of competition from historical and new entrants
in the Company’s markets;
- recent and future changes in technology;
- the Company’s ability to continue to grow its business services
products;
- increases in programming costs and retransmission fees;
- the Company’s ability to obtain hardware, software and
operational support from vendors;
- the effects of any new significant acquisitions by the
Company;
- risks that the Company’s rebranding may not produce the
benefits expected;
- adverse economic conditions;
- the integrity and security of the Company’s network and
information systems;
- the impact of possible security breaches and other disruptions,
including cyber-attacks;
- the Company’s failure to obtain necessary intellectual and
proprietary rights to operate its business and the risk of
intellectual property claims and litigation against the
Company;
- the Company’s ability to retain key employees;
- legislative or regulatory efforts to impose network neutrality
and other new requirements on the Company’s data services;
- additional regulation of the Company’s video and voice
services;
- the Company’s ability to renew cable system franchises;
- increases in pole attachment costs;
- changes in local governmental franchising authority and
broadcast carriage regulations;
- the potential adverse effect of the Company’s level of
indebtedness on its business, financial condition or results of
operations and cash flows;
- the possibility that interest rates will rise, causing the
Company’s obligations to service its variable rate indebtedness to
increase significantly;
- the Company’s ability to incur future indebtedness;
- fluctuations in the Company’s stock price;
- the Company’s ability to continue to pay dividends;
- dilution from equity awards and potential stock issuances in
connection with acquisitions;
- provisions in the Company’s charter, by-laws and Delaware law
that could discourage takeovers; and
- the other risks and uncertainties detailed from time to time in
the Company’s filings with the SEC, including but not limited to
its latest Annual Report on Form 10-K as filed with the SEC.
Any forward-looking statements made by the Company in this
communication speak only as of the date on which they are made. The
Company is under no obligation, and expressly disclaims any
obligation, except as required by law, to update or alter its
forward-looking statements, whether as a result of new information,
subsequent events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20191001005747/en/
Trish Niemann Corporate Communications Director 602.364.6372
patricia.niemann@cableone.biz
Steven Cochran CFO investor_relations@cableone.biz
Cable One (NYSE:CABO)
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