Windjammer Communications—a combination of private-equity firm MAST Capital Management and Communications Construction Services (CCS)—is now the proud owner of 80,000 former Time Warner Cable subscribers spread across some 125 head-ends in 25 states … at least it will be once the deal is wrapped in the fourth quarter.
TWC said it had reached agreement to sell Windjammer several small systems that had been for sale since spring in what it described as non-strategic areas. Terms of the deal weren’t released, but Time Warner said its second-quarter results will show a $45 million loss on the sale.
Cable executives familiar with the deal told Multichannel that the systems, while likely in need of upgrades, have the potential to offer high-speed data and telephony: The 120,000 revenue-generating units average only about 1.5 services per customer. “That means that they’re not offering much high-speed data and no voice service,” one executive said.
Time Warner Cable said CCS specializes in providing voice, video and data services to military personnel and supplies service to more than 200 military facilities in the continental U.S. and Hawaii.
For more:
- See the Multichannel news story
