Yesterday there was another bit of consolidation in the world of metro and regional fiber. Cable ONE has agreed to acquire Clearwave Communications.
Clearwave operates a regional and metro footprint in southern Illinois that spans some 2,400 route miles. They have some 2.700 on-net buildings, from enterprises to towers to data centers. We actually had Clearwave CEO Matt Dement on here earlier this year for an Industry Spotlight.
Cable ONE is a cable MSO with assets in 21 states. Notably, Illinois is actually not one of those states although it's adjacent, suggesting that the MSO is looking beyond its franchise footprint for fiber opportunities. I wonder what else they might be interested in.
Financial terms were not disclosed, but the deal is expected to be complete in Q1 of next year. UBS advised Cable One, and Bank Street Group and Stephens advised Clearwave on the transaction.