Mar 23, 2017

Cable operator WOW files for IPO

WideOpenWest, the country's sixth-largest cable operator, on Thursday filed for an IPO. The filing has a $100 million target raise, but that's most likely a placeholder figure. UBS and Credit Suisse are serving as underwriters.

Financials: WOW reports $26.3 million of earnings for 2016, compared to net losses in both 2014 and 2015. Its 2016 revenue was around $1.24 billion, up slightly from $1.22 billion the year earlier.

Backers: Crestview Partners acquired a "significant stake" in WOW back in 2015 from fellow private equity firm Avista Capital Partners, and both remain listed in the company cap table (no specific ownership stakes were listed).

Go deeper