WOW! falls short of $400M target at IPO, raises only $309M

WOW! logo
WOW! recently underwent a rebranding, in which it changed its logo but not its name.

WideOpenWest, or WOW!, fell short of its goal to raise $400.05 million with an initial public offering, taking in only $309.4 million. 

In March, the Denver-based MSO filed preliminary documents for an initial public offering, indicating the potential to raise as much as $750 million through its IPO.

WOW! is the sixth-largest cable operator in the U.S., with 772,300 video, high-speed data and voice customers. Its footprint spans nearly 3 million homes, overbuilding into Comcast and Charter Communications terrain in regions including the Midwest and Southeast. 

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.

The IPO filing and new logo come as the MSO has returned to growth after several years of debt struggles and layoffs. In December 2014, for example, the company laid off roughly 9% of its 3,000-worker labor force.

RELATED: WOW! files for IPO, rolls out new logo

The report on the IPO performance of the nation’s No. 6 cable operator comes via investment site Heavy. Light Reading, which first picked up the report, talked to WideOpenWest Holdings CEO Steven Cochran, who said WOW! will remain focused on what are now the staples of the mid-sized cable operator industry—residential broadband and business services. 

WOW! has no plans to try to reinvigorate its pay TV business with streaming skinny bundles, or to pursue M&A.

"We are not going to buy just to get bigger because we think we can compete very effectively at our size," Cochran told Light Reading. Its management team takes "a lot of pride in what we do and a lot of pride in taking care of our customers and employees, and our business plan is all driven around doing more of that."

Suggested Articles

As more subscription streaming video services enter the market, the potential total cost for consumers keeps going up.

Amazon’s new Fire TV Blaster is built to work in tandem with other Amazon devices to expand Alexa voice controls within the home.

beIN Sports is launching a free, ad-supported network on the Roku Channel, where it will feature live sports including soccer along with originals.