Cable One Completes Acquisition of Hargray Communications
Cable One, Inc. (NYSE: CABO) (the "Company" or "Cable One") today announced the completion of its acquisition of the remaining equity interests in Hargray Acquisition Holdings, LLC ("Hargray") that it did not already own.
Hargray is a leading facilities-based regional communications provider serving nearly 125,000 residential and business customers in 14 markets across Alabama, Florida, Georgia and South Carolina. Hargray offers gigabit-capable services to approximately 99% of its customers. Approximately 60% of Hargray's total revenues for the 12-month period ended December 31, 2020 were derived from residential data and business services customers.
"We look forward to expanding our footprint into high-quality markets in Florida, Georgia and South Carolina, as well as reentering the Alabama market. The Hargray team has built a reputation of providing superior service and customer support to residential and business customers in these areas and we are excited to further build upon that legacy," said Julie Laulis, President and CEO of Cable One. "I am thrilled to welcome our new Hargray associates to Cable One as we work together toward our shared focus of connecting customers and communities to what matters most."
"It has been my privilege to serve as CEO of Hargray for the last 14 years as we have pursued our purpose of empowering people and communities to connect and thrive," said Michael Gottdenker, Chairman and CEO of Hargray. "I am confident that under Cable One's ownership we will continue to pursue this purpose for our colleagues, customers and the communities we serve."
About Cable One
Cable One, Inc. (NYSE: CABO) is a leading broadband communications provider serving more than 1.1 million residential and business customers in 24 states through its Sparklight® and Clearwave® brands. Sparklight provides consumers with a wide array of connectivity and entertainment services, including high-speed internet and advanced Wi-Fi solutions, cable television and phone service. Sparklight Business and Clearwave provide scalable and cost-effective products for businesses ranging in size from small to mid-market, in addition to enterprise, wholesale and carrier customers.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This communication may contain "forward-looking statements" that involve risks and uncertainties. These statements can be identified by the fact that they do not relate strictly to historical or current facts, but rather are based on current expectations, estimates, assumptions and projections about the Company's indusry, business, strategy, acquisitions and strategic investments, dividend policy, financial results and financial condition as well as anticipated impacts from, and the Company's responses to, the COVID-19 pandemic. Forward-looking statements often include words such as "will," "should," "anticipates," "estimates," "expects," "projects," "intends," "plans," "believes" and words and terms of similar substance in connection with discussions of the Company's expansion into Alabama, Florida, Georgia and South Carolina and future operating or financial performance. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. The Company's actual results may vary materially from those expressed or implied in its forward-looking statements. Accordingly, undue reliance should not be placed on any forward-looking statement made by the Company or on its behalf. Important factors that could cause the Company's actual results to differ materially from those in its forward-looking statements include government regulation, economic, strategic, political and social conditions and the following factors, which are discussed in the Company's latest Annual Report on Form 10-K as filed with the Securities and Exchange Commission (the "SEC (News - Alert)"):
Any forward-looking statements made by the Company in this communication speak only as of the date on which they are made. The Company is under no obligation, and expressly disclaims any obligation, except as required by law, to update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise.
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