Providence Equity Partners wants $1 billion, including debt, for its holdings in cable operator Bresnan Communications. The private equity firm, which hired Credit Suisse Group and UBS to get buyers for the New York State-based cable company within Wyoming, Montana, Colorado and Utah, is expected to start opening bids in two weeks.
Bresnan, founded by cable industry icon Bill Bresnan, who died last year, is already 30 percent owned by Comcast. Its value is seen primarily as a conveyor of broadband services in an exploding market segment.
- see this story
Six enter bidding for Bresnan Communications
Bresnan Communications could be first big cable sale in two years
Bresnan shut out of broadband funding sweepstakes in Montana