Cogeco Communications Inc. says its main U.S. subsidiary has signed a deal to buy a broadband system in Ohio from WideOpenWest Inc. for US$1.125 billion.
Cogeco says the deal will be a complementary addition to Atlantic Broadband’s operations in 11 states.
The WOW Ohio system serves about 196,000 internet, 61,000 video and 35,000 telephone customers in Cleveland and Columbus, Ohio.
Montreal-based Cogeco also owns broadband internet and television systems in southern Ontario and Quebec.
The deal will be financed through US$900 million in secured debt as well as available cash on hand.
Atlantic Broadband president Frank van der Post said he expects WOW Ohio will be able to continue its growth with help from Cogeco’s expertise in acquisitions.
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