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.
WideOpenWest (WOW) reported its financial results for Q4 and full year 2021, showing total revenue from continuing operations of $178.3 million for Q4 and $725.7 million for the year, marking declines of 5% and 1% respectively. However, high-speed data (HSD) revenue increased by 5% in Q4 and 11% for the year. Despite a net loss of $2.2 million for Q4 and $68.6 million for the year, the company achieved a Pro Forma Adjusted EBITDA of $69 million in Q4 and $261.6 million for the year, up 9%. The credit rating was upgraded by Moody's and S&P, and new greenfield markets were launched in Florida.
On Feb. 24, 2022, WOW! Internet, Cable & Phone (NYSE: WOW) announced a $40 million investment to expand its all-IP fiber network into Orange County, Florida, targeting areas like Maitland and Fairview Shores. This initiative aims to enhance service in a region with rising demand for reliable broadband. Following its recent entry into Seminole County, WOW! plans to reach over 40,000 homes in the northern Orlando suburbs. CEO Teresa Elder emphasized the strategic importance of this expansion for the company's growth.
WOW! Internet, Cable & Phone (NYSE: WOW) has announced a partnership with Reach Mobile to offer discounts on mobile services for WOW! high-speed internet customers. The collaboration allows customers to save up to $10 monthly on WOW! mobile bills, powered by Reach's extensive 5G network. This move enables WOW! to enter the wireless market, addressing the growing demand for broadband and mobile services, with forecasts indicating that 53% of the U.S. workforce will work remotely in 2022.
WOW! Internet, Cable & Phone (NYSE: WOW) will host a webcast and conference call on February 24, 2022, at 8:00 a.m. ET to discuss its Q4 2021 financial and operating results. The company plans to release its results earlier that morning. Investors can access the live call through the company's investor relations website or by phone. A replay will be available the same day at 11:00 a.m. ET, continuing until March 8, 2022. WOW! serves 1.9 million customers across 14 markets, focusing on high-speed Internet, cable TV, and phone services.
WOW! Internet, Cable & Phone, a broadband provider, is investing at least $60 million to launch its all-IP fiber network in Seminole County, Florida. This initiative is part of WOW!'s Greenfield project, which aims to expand into new markets. The service will benefit over 60,000 homes with high-speed internet and robust customer service. WOW! already operates in Pinellas County and Panama City and plans additional market expansions later this year. This investment emphasizes WOW!'s commitment to enhancing connectivity and broadband choice in growing communities.
WOW! Internet, Cable & Phone (NYSE: WOW) announced a $15,000 donation to the American Red Cross to assist communities impacted by recent tornadoes on December 10. Although none of WOW!'s service areas were affected, the donation aims to support relief efforts in Tennessee, Illinois, Ohio, and other affected regions. CEO Teresa Elder expressed hope that the contribution would provide relief to those in need. WOW! operates across 14 markets, primarily in the Midwest and Southeast, serving approximately 1.9 million consumers.
On December 21, 2021, WOW! (NYSE: WOW) announced the closing of a new Credit Facility, consisting of a $730 million term loan and a $250 million revolving credit line. This facility, arranged by Morgan Stanley and other banks, matures in December 2028 and has an interest rate of SOFR plus 3.00%. The proceeds will refinance existing debt and cover expenses. WOW! serves 1.9 million customers across 14 markets, focusing on high-speed internet, cable TV, and phone services. The company emphasizes quality service at competitive prices.
On December 14, 2021, WOW! Internet, Cable & Phone (NYSE: WOW) announced the launch of WOW! tv+ in Newnan, enhancing its service offerings for high-speed data (HSD) customers. This initiative follows the company's rebranding from NuLink in November. WOW! tv+ provides curated live channels, cloud DVR storage, and extensive on-demand content. The company emphasizes improved network reliability and offers residential and commercial speeds up to 1 Gig. WOW! also contributes to the community by supporting local high schools with a scholarship fund of $13,500 for college-bound students.
WOW! Internet, Cable & Phone (NYSE: WOW) has announced a new Credit Facility totaling $730 million in term loan B and $250 million in revolving credit. The facility is expected to close next week and will mature in December 2028, with an interest rate of SOFR plus 3.00%. The funds will be used to refinance existing debts and pay associated fees. The refinancing aims to optimize the company's financial structure amidst the competitive broadband market.
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