Private Equity Firm Expanding Its Share of Wide Open West
A private equity firm is buying more of cable company Wide Open West (WOW), the two said in a joint application posted Tuesday seeking FCC approval of transfer of control. WOW has more than 782,000 subscribers in 11 states, they…
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said. The private equity firm, Crestview, bought a minority stake in WOW parent company Racecar Holdings in 2015, and was granted a right to buy up to 50 percent interest, the two said. On FCC approval, they said, Avista Capital Partners -- which today owns a majority of Racecar -- will have four seats on the board, while Crestview will have another four and the Racecar CEO will be the ninth. Financial terms of the transaction weren't made public in the filing.