Cox, Cebridge Announce Closing of Sale of Certain Cox Assets.ATLANTA & ST. LOUIS -- Cox Communications Cox Communications is a privately owned subsidiary of Cox Enterprises providing digital cable television and telecommunications services in the United States. It is the third-largest[2] cable television provider in the United States, serving more than 6. , Inc. and Cebridge Connections today announced the closure of a transaction for the sale of certain Cox Communications cable television system operations to Cebridge. Cox selected Cebridge for the opportunity to purchase the cable systems after a bidding process, and the two companies announced their definitive agreement for the purchase in November 2005. Included in the transaction are Cox's systems in West Texas, serving Lubbock, Midland, Amarillo, San Angelo San Angelo (săn ăn`jəlō), city (1990 pop. 84,474), seat of Tom Green co., W Tex., where two forks join to form the Concho River; laid out 1869, inc. 1903. and Abilene areas; North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , serving Greenville, Rocky Mount Rocky Mount, city (1990 pop. 48,997), Edgecombe and Nash counties, E N.C., on the Tar River; settled by 1818, inc. 1867. The growing city is the commercial and distribution center of a rich agricultural area (tobacco, cotton, and corn) as well as a large tobacco , New Bern New Bern, city (1990 pop. 17,363), seat of Craven co., E N.C., a port and trading center at the junction of the Neuse and Trent rivers; inc. 1723. There is lumbering and food processing, and textiles and clothing, pharmaceuticals, asphalt, metal and plastic products, and Kinston areas; Humboldt County Humboldt County is the name of three counties in the United States:
Bakersfield (pop. 323,213GR2) is one of the fastest-growing, large-population cities in the United States. ; and much of Middle America Cox (MAC), primarily comprised of operations in Texas, Louisiana and Arkansas. MAC also includes certain systems in Oklahoma, Mississippi and Missouri. Excluded from the sale are some MAC operations serving Northwest Arkansas and Lafayette, Louisiana areas. "Our management team has a long history of building successful companies in suburban and second-tier markets, and we are especially excited about the potential in these properties we have acquired from Cox," said Jerry Kent, Cebridge's chief executive officer. "We're also excited about the terrific group of employees joining us and we look forward to working with them on expanding the array of services we offer and on combining our resources to ensure world-class care for our customers." "We thank our longtime Cox employees for their exemplary service to the company and wish them well in their new careers with Cebridge. The divestiture of these properties allows Cox to increase the focus of resources on our proven bundling strategy within the markets that remain with Cox Communications," said Pat Esser, president. "New bundle elements and enhancements are in development and soon to be introduced. With less debt, we'll be able to roll these out more quickly and continue to serve as the top provider in each of our markets." Citigroup Global Markets, Lehman Brothers, Inc., Daniels & Associates and JP Morgan Securities served as advisors to Cox, and Goldman Sachs acted as sole financial advisor to Cebridge in connection with this exchange. With this transaction, Cebridge joins the ranks of the ten largest U.S. cable operators, and will serve approximately 1.2 million customers in a tight geographical footprint, concentrated in the central and southern United States The Southern United States—commonly referred to as the American South, Dixie, or simply the South—constitutes a large distinctive region in the southeastern and south-central United States. . About Cox Communications Cox Communications, a Fortune 500 company, is a multi-service broadband communications and entertainment company with more than 5.9 million total residential and commercial customers. Cox offers an array of advanced digital video, high-speed Internet and telephony services over its own nationwide IP network. Cox Business Services is a full-service, facilities-based provider of communications solutions for commercial customers, providing high-speed Internet, voice and long-distance services, as well as data and video transport services for small to large-sized businesses. Cox Media offers national and local cable advertising in traditional spot and new media formats, along with promotional opportunities and production services. More information about the services of Cox Communications, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Cox Enterprises, is available at www.cox.com, www.coxbusiness.com, and www.coxmedia.com. About Cebridge Connections Cebridge Connections is a major operator of cable TV systems, providing cable television, high-speed Internet, and other advanced services. Upon closing its announced acquisition of cable systems from Charter Communications later this year, the combined company will serve approximately 1.4 million customers. Cebridge is also in the process of a name change. The holding company will be known as Cequel Communications, while the operating companies will do business as Suddenlink Communications. The company's primary investors include GS Capital Partners (a private equity fund of The Goldman Sachs Group, Inc.), certain funds managed by Oaktree Capital Management Oaktree Capital Management LLC is a US investment management corporation which operates a number of investment entities commonly known as hedge funds of approximately $40 Billion. , Quadrangle quadrangle Rectangular open space completely or partially enclosed by buildings of an academic or civic character. The grounds of a quadrangle are often grassy or landscaped. Capital Partners II LP, and The Jordan Company LP. Other significant investors include Lehman Brothers Co-Investment Partners LP, The Oklahoma Publishing Company and subsidiaries, Charterhouse Charterhouse [Fr.,=Chartreuse], in London, England, once a Carthusian monastery (founded 1371), later a hospital for old men and then a school for boys, endowed in 1611. The school, which became a large public school, was removed (1872) to Godalming, Surrey. W. M. Group, Inc., certain funds managed by Merrill Lynch Investment Managers Private Equity Partners, and certain funds managed by Siguler Guff & Company. |
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