Seller's market? Hargray Communications up for auction

It's not as big as Bresnan Communications and it definitely won't draw the $1.37 billion price that Cablevision paid for those cable properties, but Hargray Communications Group could fetch up to $400 million at auction, according to a story in the Wall Street Journal.

The innovative broadband provider with 30,000 or so subscribers in southeastern South Carolina (can you get more geographically specific than that?) and northeastern Georgia (maybe you can), is owned by Quadrangle Group LLC, a buyout firm that's tested the sales waters before and seems heartened by the Bresnan deal.

While the 30,000 sub total is low for a cable operator-and would more likely be supplemental if another MSO bought the systems--it does include some attractive sites, including Hilton Head, where the company has been generating a steady cash flow.

For more:
- the Wall Street Journal has this story (sub. req.)

Related articles:
Six enter bidding for Bresnan Communications
Bresnan Communications could be first big cable sale in two years
Last MSO standing: Cablevision wins Bresnan sweepstakes with $1.36 billion bid
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