Knology (Nasdaq: KNOL) is doing so well that it can gobble up Sunflower Broadband for $165 without getting a financial upset stomach. The competitive cable provider announced positive second quarter results at the same time it said it had cut the deal to buy Sunflower.
"The free cash flow profile of the business remains very healthy, and along with a solid balance sheet, positions the company for disciplined growth on a go forward basis," said Knology President-CFO M. Todd Holt in a news release. "We are fortunate to be in a position to add the sunflower asset to the Knology operations without putting pressure on our balance sheet."
For more:
- see this story
Related articles:
Knology set to buy Sunflower Broadband for $165M; Liberty Global sees 2Q loss
Knology said to be in race to acquire Sunflower
Six enter bidding for Bresnan Communications