- Dan Primack
- 10 hrs ago
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).