AP Photo/Toby Talbot, File

TPG Capital today said that it will pay nearly $2.4 billion to acquire Kirkland, Wash.-based Wave Broadband, which it will merge with RCN to form the country's sixth-largest cable company. Some notes after speaking with TPG partner David Trujillo:

Big but small: Trujillo says that taking on market leaders Comcast and Verizon isn't in the cards for RCN, but that growth will continue to come for players of all sizes. "The reason we like broadband companies is that they're the picks and shovels of everything else related to that scene. When people buy higher-resolution devices or want better digital music fidelity or add pieces to a connected home, all of that is a secular trend in broadband's favor."

Geographic diversity: Pacific Northwest-based Wave gives the platform more geographic diversity, following RCN (Acela corridor) and Grande (Texas). Not only does this help protect against regional economic troubles, but also will let TPG better test different pricing and promotions in different parts of the country.

Net neutrality: Trujillo says that the deal price was not at all affected by the FCC's net neutrality rollback plans, nor did the Obama-era rules affect RCN's infrastructure investments.

Overbuilds: RCN overbuilds in some markets, which means that it sits on top of existing infrastructure rather than bringing broadband to underserved markets. Trujillo's rationale is that the "ROI is so good on these overbuilds," in part because new housing developments and apartment complexes are regularly being built in such markets.

Go deeper

Updated 43 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Chris Christie: Wear a mask "or you may regret it — as I did"
  2. Senate Democrats block vote on McConnell's targeted COVID relief bill
  3. Economy: Why the stimulus delay isn't a crisis (yet).
  4. Health: New York reports most COVID cases since MayStudies show drop in coronavirus death rate
  5. Education: San Francisco public schools likely won't reopen before the end of the year.
  6. World: Spain becomes first nation in Western Europe to exceed 1 million cases — France becomes the 2nd
Updated 4 hours ago - Politics & Policy

U.S. officials: Iran and Russia aim to interfere in election

Iran and Russia have obtained voter registration information that can be used to undermine confidence in the U.S. election system, Director of National Intelligence John Ratcliffe announced at a press conference Wednesday evening.

Why it matters: The revelation comes roughly two weeks before Election Day. Ratcliffe said Iran has sent threatening emails to Democratic voters this week in states across the U.S. and spread videos claiming that people can vote more than once.

Updated 5 hours ago - Politics & Policy

Supreme Court blocks Alabama curbside voting measure

Photo: Mark Wilson/Getty Images

The Supreme Court on Wednesday evening blocked a lower court order that would have allowed voters to cast ballots curbside at Alabama polling places on Election Day.

Whit it matters: With less than two weeks until Election Day, the justices voted 5-3 to reinstate the curbside voting ban and overturn a lower court judge's ruling designed to protect people with disabilities during the coronavirus pandemic.