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 May 3, 2024, WideOpenWest received an unsolicited non-binding preliminary proposal from DigitalBridge Investments and Crestview entities to purchase all outstanding shares not owned by Crestview for $4.80 per share in cash. Bleichmar Fonti & Auld LLP (BFA) is investigating whether the proposal is fair and if the board of directors is conflicted. Shareholders are encouraged to obtain more information and explore legal options. Representation is on a contingency fee basis, with no upfront costs for shareholders. For more details, visit BFA's website or contact their attorneys.
WideOpenWest, Inc. (NYSE: WOW) reported first quarter 2024 results with a 1% increase in High-Speed Data Revenue to $106.2 million. Total Revenue was $161.5 million, a 6.2% decrease compared to the same period in 2023. Net Loss was $15.0 million, while Adjusted EBITDA increased by 3.4% to $67.4 million. The company added 18,100 new homes in Greenfield and Edge-out markets. WOW! also announced Jose Segrera joining the Board of Directors.
WideOpenWest, a broadband services provider, received a non-binding proposal from DigitalBridge Investments, to purchase outstanding shares for $4.80 per share. The board will evaluate the proposal.
WOW! Internet, TV & Phone announced the appointment of Jose Segrera to its Board of Directors, effective May 17, 2024. Segrera, with over 30 years of experience in technology and IT, will bring expertise in business strategy, financial leadership, and team building to the company. His appointment fills the vacancy left by Tom McMillin, who resigned from the board.
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