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WideOpenWest, Inc., commonly known as WOW!, is a leading broadband services provider in the United States. Established in 1996, the company initially offered cable TV services in Illinois, Michigan, Ohio, and Indiana. Over the years, it has expanded its portfolio to include digital cable, HDTV, DVRs, high-speed internet, and local and long-distance phone services. The company significantly broadened its reach in 2012 by acquiring Knology, Inc., thus adding markets in Tennessee, Alabama, Georgia, South Carolina, Florida, Kansas, Minnesota, and Iowa.
WOW! is privately owned by Avista Capital Partners and has its corporate offices in Denver. The company's mission is to provide reliable and affordable broadband solutions, focusing on customer satisfaction and quality service. WOW! serves nearly 2 million residential, business, and wholesale consumers across 16 markets primarily located in the Midwest and Southeast, including Michigan, Alabama, Tennessee, South Carolina, Georgia, and Florida.
The company's service portfolio includes high-speed internet, data, voice, cloud services, and cable television. WOW! has been recognized multiple times for its exceptional human resources practices, winning the National Association for Business Resources' Best & Brightest Company to Work For award ten times, including six consecutive years from 2018 to 2023.
Recent achievements include the groundbreaking of an all-fiber network in Hernando County, Florida, and Livingston County, Michigan, part of the company's largest market expansion in its 25-year history. This initiative aims to add 80,000 homes to WOW!'s Michigan footprint and 44,000 homes in Hernando County. The expansion aligns with the company's goal to provide state-of-the-art, reliable fiber networks with simplified pricing and exceptional customer service.
Financially, the company reported a total revenue of $161.5 million for Q1 2024, with a net loss of $15 million, but showed growth in high-speed data revenue and Adjusted EBITDA. WOW! continues to manage its cost base aggressively while making strides in market expansion and service improvements. With plans to introduce more innovative services in the future, WOW! remains committed to meeting the evolving needs of its customers.
WOW! Internet, TV & Phone (NYSE: WOW) has launched its all-fiber internet services in Brighton, Michigan, marking its latest expansion in the Greenfield market initiative. The company plans to add 80,000 homes to its Michigan footprint in the near future. Brighton residents and businesses can now access WOW!'s fiber network with all-in pricing, included WiFi equipment, no annual contracts, and no data caps.
Construction is ongoing in additional communities across Livingston, Genesee, and Oakland Counties, including Milford, Commerce Township, Wixom, and Hartland. The service offerings include WOW! mobile powered by Reach, business solutions, and residential bundling options with YouTube TV.
WOW! Internet, TV & Phone (NYSE: WOW) has expanded its all-fiber services to Hernando Beach in Hernando County, Florida, following its recent launch in Spring Hill. The company offers simplified pricing with included WiFi equipment, no annual contracts, and no data caps. As part of its Greenfield expansion initiative, WOW! plans to add 44,000 homes in Hernando County in the coming weeks and months.
The company provides high-speed Internet along with additional services including WOW! mobile powered by Reach, business solutions, and residential bundling options with YouTube TV. WOW! currently serves customers across multiple Central Florida locations including Altamonte Springs, Wekiwa Springs, Casselberry, Forest City, Longwood, Sanlando Springs, Lake Mary, Winter Springs, Sanford, Spring Hill, and now Hernando Beach.
WOW! Internet, TV & Phone (NYSE: WOW) announced that four of its female executives have been named to Cablefax's '2024 Most Powerful Women' list. The honorees include CEO Teresa Elder (sixth honor), SVP and Chief People Officer Leslie Peabody (second honor), SVP and Chief Marketing Officer Amy Bell, and VP of Business Sales and Advertising Misty Jensen (both first-time recipients).
Under Elder's leadership, WOW! has expanded its all-fiber footprint and transitioned to a high-margin streaming model. Peabody has driven the company's Inclusion and Belonging program and launched Employee Resource Groups. Bell has achieved record gains in e-commerce and led successful marketing initiatives, including a partnership with YouTube TV. Jensen has been important in driving new customer growth, particularly in markets like Central Florida.
WOW! Internet, TV & Phone's Inclusion and Belonging team has been named to the OnCon Icon Awards 2024 Top 50 DEI Team list. The recognition comes through a peer and community-voted awards program that acknowledges leading business teams globally.
The selection process involved organizational observation, public voting, and evaluation of teams demonstrating success and positive organizational impact. WOW!'s team was recognized for their work in maintaining company values of respect, integrity, service, and accountability. Their initiatives include establishing employee-led affinity groups and implementing diverse recruitment practices.
According to Leslie Peabody, SVP and chief people officer, the team has been instrumental in fostering workplace inclusivity and driving innovation through diverse perspectives, making them one of the top vote recipients in the awards program.
WideOpenWest (WOW!) reported Q3 2024 financial results showing mixed performance. Total Revenue decreased 8.7% to $158.0 million, with HSD Revenue down 2.1% to $107.5 million. The company posted a net loss of $22.4 million, though improved from a $104.5 million loss in Q3 2023. Adjusted EBITDA increased 9.0% to $77.3 million. WOW! lost 4,400 HSD subscribers in Q3, including 1,900 due to Affordable Connectivity Program discontinuation. The company secured a new $200 million super-priority term loan and continued expansion in Greenfield markets, passing 1,700 new homes.
WOW! Internet has launched its all-fiber services in Spring Hill, Hernando County, Florida, marking its 10th Greenfield community in the state. This expansion follows the company's plans to add 44,000 new homes in the area. The company's fiber network in Hernando County remained undamaged by Hurricane Milton, ensuring continuous service delivery. WOW! offers simplified all-in pricing with no annual contracts or data caps, including WiFi equipment. The service is now available across multiple Florida locations including Altamonte Springs, Wekiwa Springs, Casselberry, Forest City, Longwood, Sanlando Springs, Lake Mary, Winter Springs, and Sanford.
WideOpenWest (NYSE: WOW), a leading U.S. broadband provider, has scheduled its third quarter 2024 financial results announcement and conference call for Monday, November 4, 2024 at 4:30 p.m. ET. The company will release its financial results before the call, which will be accessible via webcast on their investor relations website and telephone. Domestic participants can dial (800) 715-9871, while international callers should use (646) 307-1963, both using conference ID 2688718. A replay will be available on the investor relations website.
WOW! Internet, TV & Phone (NYSE: WOW) has announced that its subsidiary, WideOpenWest Finance, , has closed on a new $200 million super-priority Senior Term Loan with existing lenders. The loan will mature in December 2028 and bear interest at SOFR plus 7.00%, taking priority over WOW!'s existing credit facility. Existing term loan lenders funding their pro rata share can exchange commitments into the super-priority agreement at various rates.
CEO Teresa Elder stated that this additional liquidity strengthens WOW!'s position to re-accelerate its fiber Greenfield strategy, aiming to pass 400,000 homes with their high-speed fiber network over the next few years. The company has been expanding its network to new communities since 2022.
WOW! Internet, TV & Phone (NYSE: WOW) and the Augusta GreenJackets have concluded another successful MiLB season honoring outstanding educators in the Central Savannah River Area (CSRA) through the WOW! Teacher of the Month Award. For the seventh consecutive year, the program recognized teachers who excel in creating positive educational experiences. Five teachers were honored during home games at SRP Park, each receiving $500 for classroom expenses, four GreenJackets tickets, and a commemorative plaque.
Additionally, WOW! participated in the Stuff the Bus Annual School Supply Drive, benefiting the United Way of the CSRA. This initiative helps alleviate financial burdens for families during back-to-school shopping. WOW! continues to support the CSRA community by providing internet, phone, and TV services to the GreenJackets' stadium, SRP Park.
WideOpenWest (WOW!) reported Q2 2024 results with total revenue of $158.8 million, down 8% year-over-year. High-speed data (HSD) revenue was $105.0 million, a slight 1.6% decrease. The company posted a net loss of $10.8 million for the quarter. However, Adjusted EBITDA increased 2.8% to $70.0 million with a 44.1% margin. WOW! passed approximately 8,900 new homes in Greenfield and Edge-out markets. The company experienced a net loss of 4,700 HSD subscribers, partly due to discontinuing the Affordable Connectivity Program. WOW! provided Q3 2024 guidance, projecting HSD revenue of $106.0-$109.0 million and total revenue of $157.0-$160.0 million.
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