Welcome to our dedicated page for WideOpenWest news (Ticker: WOW), a resource for investors and traders seeking the latest updates and insights on WideOpenWest stock.
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.
On November 1, 2021, WOW! Internet, Cable & Phone (NYSE: WOW) announced the successful completion of its sale of the Chicago, Evansville, Indiana, and Anne Arundel, Maryland service areas to Radiate HoldCo for $661 million. This transaction follows a prior sale of its Cleveland and Columbus, Ohio areas, generating a total of $1.8 billion in gross proceeds. The sales allow WOW! to reduce debt and enhance its financial position while focusing on its broadband-first strategy and transitioning services smoothly to Astound Broadband.
WOW! Internet, Cable & Phone (NYSE: WOW) will hold a webcast and conference call on November 8, 2021, at 8:00 a.m. ET to discuss its third-quarter 2021 financial results. An early news release will be issued that morning. The conference call will be available via the investor relations website, with dial-in options for participants. A replay will be accessible starting November 8, 2021, at 11:00 a.m. ET, until November 19, 2021.
WOW! Internet, Cable & Phone (NYSE: WOW) has successfully completed the sale of its Cleveland and Columbus, Ohio service areas to Atlantic Broadband for $1.125 billion. The company plans to utilize approximately $1 billion in net proceeds to reduce its debt. This transaction is part of a broader strategy involving the sale of five service areas for a total of $1.8 billion, which will fortify WOW!'s financial position and support its broadband-first initiatives. The remaining sale, involving Chicago and other areas, is expected to finalize in Q4 2021.
WideOpenWest, Inc. (WOW) reported a revenue of $287.3 million for Q2 2021, an increase of 2% from Q2 2020. The net income reached $12.4 million with diluted EPS of $0.15, compared to $2.2 million and $0.03 in the previous year. High-speed data (HSD) revenue rose by 14% year-over-year, totaling $156.4 million. WOW added 3,400 HSD RGUs in the quarter. The company announced plans to sell five service areas for $1.8 billion, enhancing financial strength. Adjusted EBITDA was $117.8 million, with margins at 41%.
WideOpenWest, Inc. (WOW) reported a total revenue of $287.3 million and a net income of $12.4 million for Q2 2021, marking a 2% increase year-over-year. High-Speed Data (HSD) revenue rose by 14% to $156.4 million, contributing to an Adjusted EBITDA of $117.8 million, a 16% increase from last year. The company added 3,400 HSD RGUs in the quarter. WOW! announced two transactions to sell five service areas for $1.8 billion, enhancing financial strength. Year-to-date revenue reached $573.6 million with a free cash flow of $41.4 million.
WOW! Internet, Cable & Phone (NYSE: WOW), a prominent broadband services provider, announced that Teresa Elder, CEO, and John Rego, CFO, will hold a Fireside Chat at the KeyBanc Technology Leadership Forum on August 10, 2021, at 12:40 PM EST. A live webcast will be available on their investor relations website. WOW! serves three million consumers in 19 markets across the Midwest and Southeast, specializing in high-speed internet, cable TV, and phone services.
WOW! Internet, Cable & Phone (NYSE: WOW) will host a conference call on August 5, 2021, at 8:00 a.m. ET to discuss its Q2 2021 financial and operating results. A press release with the results will be issued earlier that morning. Investors can participate via live webcast on the company's investor relations website or by telephone. The replay will be available post-call on the website and via telephone until September 3, 2021. WOW! continues to be a leading broadband provider, serving three million customers across 19 U.S. markets.
WOW! Internet, Cable & Phone (WOW) has signed agreements to sell its service areas in Cleveland, Columbus, Chicago, Evansville, and Anne Arundel for a total of $1.786 billion. Atlantic Broadband will acquire the Cleveland and Columbus areas, while Astound Broadband will take over the Chicago, Evansville, and Anne Arundel markets. These transactions aim to strengthen WOW's broadband growth strategy and reduce its leverage ratio from 5.0x to 2.5x. The sales are expected to close in the latter half of 2021, subject to regulatory approvals.
WOW! Internet, Cable & Phone (NYSE: WOW) announced participation in two virtual investor conferences. The first is the Evercore ISI Inaugural TMT Conference on June 8, 2021, at 9:30 AM EST, featuring CEO Teresa Elder. The second is the Credit Suisse Virtual Communications Conference on June 15, 2021, at 12:40 PM EST, where both Teresa Elder and CFO John Rego will engage in a fireside chat. Live webcasts will be accessible through WOW!'s investor relations website.
WOW! is a prominent broadband provider, serving three million consumers across multiple states.
WOW! Internet, Cable & Phone (NYSE: WOW) is gearing up for the 2021 hurricane season by enhancing its network resilience and crisis response strategies in southern markets. With forecasts indicating a heightened storm activity, the company emphasizes its commitment to rapid service restoration post-storms. WOW! advises residents to prepare by keeping emergency contacts handy and accessing updates through their website, especially as reliance on internet services increases due to the pandemic.
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