Colorado-based WOW! Internet, Cable & Phone (NYSE: WOW) has detailed plans to sell five of its service areas in two deals valued at a total of nearly $1.8 billion. As part of one of the deals, WOW’s service area in Evansville will be taken over by New Jersey-based Astound Broadband.
Astound is acquiring WOW!’s Evansville, Chicago and Ann Arundel, Maryland service areas for more than $660 million. Meanwhile, WOW! is selling its Cleveland and Columbus, Ohio markets to Massachusetts-based Atlantic Broadband for $1.1 billion.
“We welcome the local Chicago, Evansville and Anne Arundel WOW! employees and are thrilled to have them join the Astound family,” Astound Broadband Chief Executive Officer Jim Holanda said in a news release. “We look forward to working with both the WOW! management team and the current local employees on a smooth transition.”
When the transactions are completed, WOW! says it will continue to serve its customers in 14 service areas in Alabama, Florida, Georgia, Michigan, South Carolina, and Tennessee.
The transactions are expected to close in the second half of this year.