Cable One Completes Contribution of Alabama Assets to Hargray
Cable One (NYSE: CABO) has transferred its Anniston, Alabama system, operating under the Sparklight® brand, to Hargray Communications in exchange for a minority equity stake. This move enhances Hargray's footprint in Alabama following its previous acquisition of USA Communications' assets. The integration will allow Sparklight customers to access Hargray's advanced services like 1 Gbps Internet and comprehensive business solutions. Hargray aims to maintain existing services during the transition while committing to community engagement and service excellence.
- Expansion of Hargray's presence in Alabama with the acquisition of Sparklight's Anniston system.
- Increased product offerings for Sparklight customers, including high-speed internet and advanced communication services.
- Risks associated with the integration and transition process for existing Sparklight customers.
- Uncertainties regarding the benefits and growth potential from Cable One's minority ownership in Hargray.
HILTON HEAD, S.C. & PHOENIX--(BUSINESS WIRE)--Hargray Communications (“Hargray”) and Cable One, Inc. (NYSE: CABO) (“Cable One”) announced today that the companies have completed the contribution of Cable One’s system serving Anniston, Alabama and surrounding areas, which operates under the Sparklight® brand, to Hargray in exchange for a minority equity interest in Hargray. The transaction follows Hargray’s 2019 acquisition of USA Communications’ Alabama assets in nearby Pell City and further expands Hargray’s presence in Alabama.
“On behalf of our more than 800 colleagues, we are pleased to welcome Sparklight customers in Alabama into the Hargray family. Our purpose is to fuel the growth of southeastern communities like Anniston, Jacksonville, and Oxford by delivering the fastest broadband speeds available with superior local service that is uncommon in our industry,” said Hargray Chairman & CEO, Michael Gottdenker. “We look forward to building upon the excellent reputation that Cable One’s world-class colleagues have earned in these communities.”
David Armistead, Senior Vice President of Hargray, noted, “Hargray’s approach is to fully engage in the communities it serves, and we look forward to the opportunity to join, serve, and engage the residents and businesses of this beautiful region. We will deliver the same high-quality suite of residential and commercial services and customer support we are known for across all of our service areas in Alabama, Georgia, Florida, and South Carolina.”
“We believe Hargray’s regional focus, local values, and continued investment in technological advancements and customer care will benefit Anniston and the surrounding communities,” said Julie Laulis, Cable One President and CEO. “We look forward to working with the Hargray team to support customers through the transition and sharing in Hargray’s continued growth.”
Over the next year, Hargray will implement a multi-phased integration plan. Hargray will communicate with customers throughout the process. Until the transition is complete, existing Sparklight customers will continue to receive the same services and should continue to pay their bills as in the past.
Once the Sparklight system is fully integrated with Hargray, residential customers will have access to Hargray’s next-generation products like 1 Gbps high-speed Internet, Wall to Wall Wi-Fi, and premium TV with access to a prime selection of programs on-the-go. Business customers will enjoy enhanced data, voice, and video services, including hosted unified communications, metro-ethernet, symmetrical and asymmetrical Internet, and video services customized for various commercial applications.
Current Sparklight customers seeking more information about the transition are encouraged to visit hargray.com/CableOne or call 877.692.2253 to speak with a member of Sparklight’s dedicated local customer care team.
About Hargray
Founded in 1947, Hargray is a regional telecommunications company providing advanced communications and entertainment services in a growing set of markets in the southeastern United States. Hargray delivers the most advanced technology and the best service for its customers and is active in the communities it serves by supporting a wide range of local charities, organizations, projects, and events.
About Cable One
Cable One, Inc. (NYSE: CABO) is a leading broadband communications provider serving more than 900,000 residential and business customers in 21 states through its Sparklight® and Clearwave™ brands. Sparklight provides consumers with a wide array of connectivity and entertainment services, including high-speed internet and advanced Wi-Fi solutions, cable television, and phone service. Sparklight Business and Clearwave provide scalable and cost-effective products for businesses ranging in size from small to mid-market, in addition to enterprise, wholesale, and carrier customers.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This communication may contain “forward-looking statements” that involve risks and uncertainties. These statements can be identified by the fact that they do not relate strictly to historical or current facts, but rather are based on current expectations, estimates, assumptions, and projections about Cable One’s and Hargray’s industry, businesses, strategies, financial results, and financial conditions as well as anticipated impacts from the COVID-19 pandemic on Cable One and Hargray and future responses. Forward-looking statements often include words such as “will,” “should,” “anticipates,” “estimates,” “expects,” “projects,” “intends,” “plans,” “believes,” and words and terms of similar substance in connection with discussions of future operating or financial performance. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Cable One’s and Hargray’s actual results may vary materially from those expressed or implied in their forward-looking statements. Accordingly, undue reliance should not be placed on any forward-looking statement made by Cable One or Hargray or on either’s behalf. Important factors that could cause Cable One’s and Hargray’s actual results to differ materially from those in any forward-looking statements include government regulation, economic, strategic, political, and social conditions and the following factors: risks relating to diverting management’s attention from Cable One’s or Hargray’s ongoing business operations; risks relating to Cable One’s initial minority ownership position in Hargray; uncertainties as to the ability and the amount of time necessary to realize the benefits of the transaction, future investments by Hargray, and Hargray’s continued growth; risks relating to transition and integration plans; and the other risks and uncertainties detailed from time to time in Cable One’s filings with the Securities and Exchange Commission (the “SEC”), including but not limited to its latest Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and Current Report on Form 8-K as filed with the SEC. Any forward-looking statements made by Cable One or Hargray in this communication speak only as of the date on which they are made. Each of Cable One and Hargray is under no obligation, and expressly disclaims any obligation, except as required by law, to update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise.
