Charter Communications Sells Off Select Cable Systems
Disposition to private equity affiliate boosts its focus on market clusters
NEW YORK - Cable operator Charter Communications has sold cable systems serving approximately 65,000 customers in seven states to Cobridge Communications.
The deal, whose financial details weren't disclosed, allows Charter to further its focus on market clusters. With it, the company exits Arkansas and Ohio and now serves 25 states. The buyer is an affiliate of private equity firm The Gores Group.
"The sale of these systems furthers our continued strategy to strengthen our clusters and enhance operating efficiencies by divesting geographically non-strategic assets," said Charter president and CEO Mike Lovett.
The systems sold are in Alabama, Arkansas, Georgia, Louisiana, Missouri, Ohio and Texas.