Avista Unit Pays $1.5B To Acquire Cable Provider Knology

Law360, New York (April 18, 2012, 3:59 PM EDT) -- An Avista Capital Partners subsidiary will buy regional cable and Internet provider Knology Inc. in a $1.5 billion deal that will expand the private equity firm's digital entertainment interests to cover 13 states in the Midwest and Southeast, it said Wednesday.

Wild Open West, known as WOW Internet, Cable & Phone, will assume ownership of Knology for $750 million in cash, plus debt. Knology's board of directors, in consultation with a transaction committee, unanimously signed off on the sale, which is pending shareholder and regulatory approval....
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