Cox Communications Inc. said Monday that it closed its deal to sell about 940,000 subscribers to Cebridge Connections.
The deal, announced in November, includes systems in west Texas (Lubbock, Midland, Amarillo, San Angelo and Abilene areas); North Carolina (Greenville, Rocky Mount, New Bern and Kinston areas); California (Humboldt County and Bakersfield); and other operations in Texas, Louisiana, Arkansas, Oklahoma, Mississippi and Missouri.
According to Cox’s 10-K annual report filed with the Securities and Exchange Commission in March, Cebridge paid about $2.55 billion in cash for the systems.
Citigroup Global Markets, Lehman Bros. Holdings Inc., Daniels & Associates and JPMorgan Securities Inc. served as advisors to Cox, and The Goldman Sachs Group Inc. acted as sole financial advisor to Cebridge in connection with this exchange.
With the closing of the transaction, Cebridge will serve about 1.2 million customers.
Cebridge -- which will change its name to Suddenlink Communications shortly -- also announced a deal last year to purchase 240,000 subscribers in West Virginia from Charter Communications Inc. That deal, valued at about $770 million, is expected to close sometime in July.
