Cable One will acquire South Carolina-based Hargray Communications in a deal valued at $2.2 billion. Cable One has owned 15% of Hargray since October, 2020 when it contributed its Anniston, Ala., system to Hargray in exchange for the equity interest.

The purchase price represents 17.2x multiple of Hargray’s 4Q LQA adjusted EBITDA before taking into account estimate run-rate synergies and 12.7x after assuming the immediate realization in full of the $45 million in estimated run-rate synergies that Cable One expects to realize within three years of closing the transaction.

With Hargray serving 14 markets across Alabama, Florida, Georgia and South Carolina, the transaction will expand Cable One’s presence in the Southeastern US. Hargray offers gigabit capable services to approximately 99% of its sub base and generated approximately $128 million in Adjusted EBITDA in 4Q20.

More details should come during Cable One’s earnings call Thursday.

The Daily

Subscribe
Tuesday–April 15

Parsons to Receive Bresnan Award Posthumously

The late Richard Parsons, who served as Chairman and CEO of Time Warner as well as Chairman of Citigroup, is the 2025 Bresnan Ethics in Business award recipient.

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up

Calendar

Apr 16
Cablefax 100 Awards CFX100 2025 List to be published 4/16/25
Sep 11
2025 Faxies Awards Faxies Nominations Open! Final deadline: 4/4/25
Full Calendar

Jobs

Seeking an INDUSTRY JOB or hiring for one?
VIEW JOBS

In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors. The result will be an even more robust industry job board, to help both employers and job seekers.

Contact Carley Ashley, [email protected], for more information about posting a job on the website and our Jobs newsletter, sent twice weekly to 85,000 media professionals.