Cablevision Acquires Bresnan Cable Platforms

BETHPAGE: Cablevision Systems Corporation is set to acquire Bresnan Communications, a cable MSO that operates in Colorado, Montana, Wyoming and Utah, for $1.365 billion.

Bresnan, the 13th-largest MSO in the country, serving more than 300,000 basic subscribers, is majority owned by Providence Equity Partners. "We believe the acquisition of Bresnan is an excellent opportunity to leverage Cablevision’s strong management team and build shareholder value," said James L. Dolan, president and CEO of Cablevision. “Bill Bresnan was a cable legend and was close to so many in the industry, including the Dolan family. The Bresnan team has built an impressive cable business that performs well financially, and we look forward to working to enhance those systems further.”

Cablevision’s COO, Tom Rutledge, who will oversee the Bresnan properties, added: "Bresnan is a well-managed company that has invested wisely in its operations and has pursued a strategy which is aligned and quite similar to Cablevision’s. We look forward to building on Bresnan’s record by pursuing among other things: broader deployment of digital voice; the addition of more high-definition television offerings; the expansion of our groundbreaking Triple Play offer; and, the rollout of new services that have already shown great promise.”