Wave close to $2B purchase by same private equity group that bought RCN and Grande

Wave
Wave’s footprint covers the Sacramento and San Francisco areas, as well as Seattle and Portland, Oregon. 

After buying up RCN Telecom Services and Grande Communications last year, private equity firm TPG Capital is reportedly close to a $2 billion deal for WaveDivision Holdings LLC, parent of Kirkland, Washington-based cable operator Wave Broadband. 

Reuters reported the deal citing unnamed sources. Neither TPG or Wave are commenting at this point. 

Last month, the news service reported that Oak Hill Capital Management LLC and GI Partners—which jointly own Wave, along with the operator’s top management—hired investment bank UBS Group AG to conduct an auction for the cable company. 

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceVideo!

The Video industry is an ever-changing world where big ideas come along daily. Cable, Media and Entertainment, Telco, and Tech companies rely on FierceVideo for the latest news, trends, and analysis on video creation and distribution, OTT delivery technologies, content licensing, and advertising strategies. Sign up today to get news and updates delivered to your inbox and read on the go.

RELATED: RCN and Grande sold to private equity firm TPG for $2.25B

In August of 2016, TPG acquired RCN and Grande Communications for $2.25 billion from another buyout firm, ABRY Partners. That deal closed in February.

Should TPG close on Wave, as well, it would form the nation’s sixth largest cable operator. 

RELATED: Wave Broadband’s private-equity parents looking for $2B sale, report says

Wave’s footprint covers the Sacramento and San Francisco areas, as well as Seattle and Portland, Oregon. 

Unlike many other cable operators, which have built their networks around DOCSIS technologies, Wave has invested heavily in fiber. The company said last fall that it currently has 1,000 ongoing fiber projects. 

Suggested Articles

There is no one size fits all strategy when it comes to using multi-CDNs to deliver video.

Ad-supported video streaming service Tubi says it now has more than 20 million monthly active users after record growth throughout the first half of 2019.

Viacom’s BET Networks is launching its own subscription video streaming service, BET+, as a joint venture with Tyler Perry Studios. The service is launching in…