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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.

Go deeper

Dec 3, 2020 - Health

FCC commissioner: Access to broadband essential to boosting telehealth

Axios' Dan Primack (left) and FCC commissioner Geoffrey Starks. Photo: Axios

Access to broadband is essential to boost telehealth, which has skyrocketed during the coronavirus pandemic, Federal Communications commissioner Geoffrey Starks said on Thursday at an Axios virtual event on the future of broadband connectivity.

Why it matters: "Access to telemedicine and telehealth via affordable, reliable broadband is going to be extremely important to making sure that folks can safely manage their health from home," Starks said.

Updated Dec 3, 2020 - Axios Events

Watch: The future of broadband connectivity

Axios' Erica Pandey, Dan Primack, and Ashley Gold hosted a conversation on the future of broadband connectivity, featuring FCC Commissioner Geoffrey Starks, Per Scholas CEO Plinio Ayala and DreamBox CEO Jessie Woolley-Wilson.

Geoffrey Starks discussed the impact of the digital divide, citing research that shows that more than 77 million Americans lack adequate broadband in their home. He also highlighted the racial disparity, adding that 1 in 3 Black adults and more than 1 in 3 Latino adults don't have home broadband connections.

  • On why broadband connection is especially critical during the pandemic: "Access to telemedicine and telehealth via affordable, reliable broadband is going to be extremely important to making sure that folks can safely manage their health from home."

Jessie Woolley-Wilson suggested that broadband should be treated as a household utility, highlighting that primary barriers to access are due to cost or location.

  • On the severity of the issue: "Imagine if there were homes that didn't have electricity or heat — we would figure out policy solutions to that, and I think we have to start thinking about access to broadband almost like it was a utility."

Plinio Ayala argued that the U.S. government needs to focus on workforce development, providing American workers with IT skills to meet the shifting technological and economic landscape.

  • "A lot of the skills that workers obtain in the hospitality sector or in the retail sector, customer service skills are incredibly transferable into the I.T. space...AI was going to cause a disruption in our workforce regardless [and] the pandemic just accelerated that."

Axios co-founder and CEO Jim VandeHei hosted a View from the Top segment with The Internet & Television Association president and CEO Michael Powell and discussed how COVID-19 has been a stress test for network capacity and people have had to shift work and school to home.

  • "[COVID-19] was the greatest experiment in stressing the Internet that we've had in the history of the Internet...How they performed [is] really a culmination of years of of investment, years of excellence in engineering and a cultural commitment to the needs of our country at a time where the public health response is dependent on the ability to let consumers stay at home to work and school."

Thank you Comcast for sponsoring this event.

Updated 37 mins ago - Politics & Policy

Facebook paying up to $14M to settle employment discrimination claims

Photo: T.J. Kirkpatrick/Bloomberg via Getty Images

Facebook has agreed to pay up to $14.25 million to settle allegations that it discriminated against American workers by reserving positions for temporary visa holders, the Justice Department announced on Tuesday.

Why it matters: The settlement represents the largest civil penalty and monetary award that the Civil Rights Division has recovered in the 35-year history of the Immigration and Nationality Act's anti-discrimination provision.