Broadstripe Communications, still struggling with the effects of a January 2009 bankruptcy, could be in the market to sell properties serving about 93,000 customers in Maryland, Michigan, Washington State and Oregon, Multichannel News reports.
Bresnan Communications, a cable industry stalwart recently shut out of broadband funding for a proposed fiber network installation in Montana, is also in the process of evaluating a potential sale.
The path to a sale starts with the Chapter 11 bankruptcy and ends with the recent hiring of El Molino Advisors, an L.A.-based consulting firm, to help improve operations, reduce costs and dispose of "certain assets," it was reported. Broadstripe has also been using New York investment bankers DH Capital to value the company and broker the sale of 14 systems in Washington state.
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Six enter bidding for Bresnan Communications
Bresnan shut out of broadband funding sweepstakes in Montana