Sep 1, 2020 - Economy & Business

TPG seeks $8 billion sale for cable conglomerate Astound

Cable, Power Lines, Electric Transmission Tower
Illustration: Rebecca Zisser/Axios

TPG is seeking a buyer for Astound, a U.S. cable conglomerate that includes RCN, Grande Communications, and Wave Broadband, per Reuters. A deal could fetch more than $8 billion.

Why it matters: The move reflects how many cable operators are thriving in spite of cord-cutters, as work-from-home and streaming video consumers demand faster broadband.

  • TPG is seeking a very strong return here, having paid $2.25 billion to buy RCN and Grande in 2016 and then $2.7 billion for Wave in 2017.
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