WideOpenWest, Inc. (NYSE: WOW), one of the nation’s largest broadband providers, has agreed to a $1.5 billion buyout by DigitalBridge Group, Inc. and Crestview Partners, marking the company’s exit from public markets. Under the agreement, shareholders will receive $5.20 in cash per share — a 63% premium over the most recent closing price and a 37.2% premium from its unaffected value prior to a May 2024 offer.
Crestview, which already owns roughly 37% of WOW!’s outstanding shares, will roll over its stake and partner with DigitalBridge to take the company private. The partnership signals a strategic push to accelerate WOW!’s growth, expand its geographic reach, and invest heavily in advanced broadband infrastructure.
With a footprint spanning 20 markets in the Midwest and Southeast, WOW! passes nearly 2 million homes and businesses, offering internet, TV, and phone services. In recent years, the company has made significant investments in all-fiber networks, including builds in Central Florida and South Carolina. Going private is expected to give the company greater flexibility to pursue such large-scale infrastructure projects without the constraints of quarterly earnings pressures.
The acquisition also underscores broader private-equity interest in U.S. broadband assets, as demand for high-speed internet continues to climb. DigitalBridge, a global investor in digital infrastructure, brings a track record in funding and operating fiber networks, while Crestview’s long-term involvement offers stability and operational experience. Together, the firms intend to strengthen WOW!’s competitive position through technology upgrades, enhanced customer service, and targeted market expansion.
The transaction has been unanimously approved by WOW!’s board following a review by a special committee of independent directors. The process involved evaluating multiple strategic options, with the board concluding that the offer delivered the best value for shareholders.
Completion of the deal is contingent on shareholder and regulatory approvals, with closing anticipated by late 2025 or early 2026. Once finalized, WOW! will be delisted from the New York Stock Exchange and operate as a privately held company.
Advisors to the transaction include Centerview Partners for WOW!’s special committee, with Wachtell, Lipton, Rosen & Katz serving as legal counsel. DigitalBridge and Crestview are being advised by LionTree Advisors, with Morgan Stanley and Goldman Sachs as structuring advisors. Legal counsel is being provided by Simpson Thacher & Bartlett LLP for DigitalBridge and Davis Polk & Wardwell LLP for Crestview.
For customers, the shift to private ownership is expected to be seamless, with no disruption to services. However, both ownership groups have signaled a strong commitment to expanding network capacity, enhancing speed and reliability, and introducing new offerings designed to meet the evolving needs of both residential and business users.