Posted July 19th, 2012 by seanm
Access Humboldt welcomes new cable system owners to Humboldt County
July 19, 2012 (Eureka, London and Toronto) -
Published reports and calls to local officials today indicate that the private owners of Suddenlink Communications plan to transfer ownership of the company in the 4th Quarter of 2012.
New York Times reported from London that: "The private equity firm BC Partners and one of Canada’s largest pension funds have agreed to buy the American cable operator Suddenlink Communications in a cash-and-debt deal worth around $6.6 billion." http://dealbook.nytimes.com/2012/07/19/bc-partners-led-group-to-buy-u-s-...
And Reuters reported from Toronto, "BC Partners and the Canadian Pension Plan Investment Board said late on Wednesday they are teaming up with U.S. cable industry veteran Jerry Kent to buy Suddenlink from Goldman Sachs Capital Partners, Quadrangle and Oaktree Capital Management."
Sean McLaughlin, executive director of Access Humboldt in Eureka California noted, "This is a multi-billion dollar transaction that impacts many State and local jurisdictions. We'll be supporting Humboldt County California and monitoring the public interest impacts of this ownership transfer between absentee owners - and we certainly hope that the buyers truly value community good will in this investment. If the new owners take the long view and work with local jurisdictions, we welcome them!"
He added, "this transfer review process should provide an opportunity for local communities to discover Suddenlink's plans and help them to better meet local needs and interests."
Access Humboldt is a non-profit community based organization created in 2006 to manage local community networks and digital media assets for the County of Humboldt and the Cities of Eureka, Arcata, Fortuna, Rio Dell, Ferndale, and Blue Lake, California. Broadband media resources include cable TV channels, local fiber and wireless network connections, and a community media center at Eureka High School. For information call 707-476-1798, email email@example.com or visit online at http://accesshumboldt.net
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Times Standard article:
County and cities to review Suddenlink contract; Last chance to look over cable agreements at a local level
Created: 08/13/2012 02:27:02 AM PDT