Mediacom shareholders get $10.2M more in buyout settlement

Mediacom shareholders will get 25 cents more per share to bring the final bid to $9 per share as part of CEO Rocco Commisso's ongoing effort to take the nation's eighth largest MSO private.

Commisso had originally bid $6 per share for the 60 percent of the MSO he didn't already own; that was rejected. He later boosted that to $8.75 and shareholders challenged the deal in court. Now, thanks to an accord approved by Delaware Chancery Court, he'll end up paying $9 per share--or about $10.2 million more overall--to finalize the deal and take the company private for about $600 million.

Commisso is attempting to take full control and privatize the company he founded in 1995. He already owns 40 percent of the company's stock and an 87 percent voting control.

For more:
- Bloomberg has this story

Related articles:
Proxy advisors tell Mediacom shareholders to sell out
Another one bites the dust; Commisso takes Mediacom private

WHITEPAPER

How To Lower the Cost of Ownership of Your Cable Access Network

This white paper presents a cost analysis of a virtualized cable modem termination system (CMTS) deployed in a distributed access architecture (DAA). Learn how to eliminate traditional CMTS constraints, efficiently enhance your network performance and more.

Suggested Articles

WarnerMedia scored a key HBO Max distribution deal with Comcast just as it launched in May. Nearly six months later, there still isn’t an app.

Comcast is planning new data caps and video service price increases for its subscribers in 2021.

The Apple TV remote is an often reviled peripheral device. Universal Electronics has taken it upon itself to create a different option.