Charter completes sale of cable systems to CoBridge

Charter Communications, the nation's fourth-largest cable operator, has completed the sale of cable systems serving approximately 65,000 subscribers in seven states to CoBridge Communications.

CoBridge's stated goal "is to purchase under-managed and under-marketed cable television communities that can be improved over time." With the 36 Charter systems, CoBridge CEO Scott Widham said CoBridge would upgrade the triple-play service offerings to customers, as well as add business-class VoIP and Ethernet-based services.

"We are thrilled about working with The Gores Group to bring these cable systems the latest technology and best possible service," Widham said.  "Gores is known for investing in the businesses it acquires, and we look forward to putting their capital and our combined operations expertise to work as we endeavor to create a platform to acquire additional cable systems."

We are very excited about this transaction," said Steve Yager, senior managing director of The Gores Group. "We have been actively investing in the telecommunications and media space, and this transaction gives us another entry into this industry."

Charter Communications, the nation's fourth-largest cable operator, has completed the sale of cable systems serving approximately 65,000 subscribers in seven states to CoBridge Communications.

CoBridge's stated goal "is to purchase under-managed and under-marketed cable television communities that can be improved over time." With the 36 Charter systems, CoBridge CEO Scott Widham said CoBridge would upgrade the triple-play service offerings to customers, as well as add business-class VoIP and Ethernet-based services.

"We are thrilled about working with The Gores Group to bring these cable systems the latest technology and best possible service," Widham said.  "Gores is known for investing in the businesses it acquires, and we look forward to putting their capital and our combined operations expertise to work as we endeavor to create a platform to acquire additional cable systems."

We are very excited about this transaction," said Steve Yager, senior managing director of The Gores Group. "We have been actively investing in the telecommunications and media space, and this transaction gives us another entry into this industry."