After a 16-month courtship, WOW! finally tied the knot and is entering into a three-party partnership with DigitalBridge Investments and Crestview Partners — sealing it with a $1.5 billion dowry at $5.20 a share, a 63% premium over its pre-engagement price.
WideOpenWest, Inc. (WOW!) has entered into a definitive agreement to be acquired by investment funds affiliated with DigitalBridge Investments, LLC and Crestview Partners for $5.20 per share in cash, valuing the transaction at approximately $1.5 billion. The all-cash deal, approved unanimously by WOW!’s board of directors on the recommendation of its special committee, represents a 37.2% premium over the unaffected price before an earlier $4.80 offer, and a 63% premium to the company’s August 8, 2025, closing price.
Crestview, which already owns about 37% of WOW!’s outstanding shares, will roll over its equity into a new entity jointly owned with DigitalBridge rather than selling its stake. The agreement follows a nearly 16-month negotiation process after WOW! received an unsolicited proposal from the two firms.
Upon closing — expected by the end of 2025 or early 2026, pending shareholder and regulatory approvals, including from the FCC — WOW! will be delisted from the New York Stock Exchange and operate as a privately held company. The company says no immediate changes are planned to employee titles, compensation, or benefits for at least 12 months post-close, and severance will be offered for terminations without cause related to the transaction.
Executives emphasized that the new ownership will provide additional financial capacity to accelerate WOW!’s “broadband-first” growth strategy, including expanding its fiber-to-the-home footprint across its 20 markets in Alabama, Florida, Georgia, Michigan, South Carolina, and Tennessee.
DigitalBridge and Crestview, both seasoned broadband and digital infrastructure investors, said they see significant upside in WOW!’s market position and operational potential.
Further details, including the complete merger agreement and the board’s process in evaluating the offer, will be disclosed in WOW!’s forthcoming proxy statement and Schedule 13E-3 filing with the SEC.
Employee Expectations Under the New Ownership
WOW! has told its approximately 3,000 employees it will be “business as usual” during the transition, with the following commitments:
Employment Status – Staff are expected to remain employed by WOW!, which will continue to operate under its name as a subsidiary of the new ownership group.
Titles and Responsibilities – No changes are planned to existing roles or job duties during the first year after the transaction closes.
Pay and Benefits – Base salary, wages, and target cash incentive opportunities will not be reduced for 12 months post-closing. Core benefits (medical, dental, vision, disability coverage, 401(k), and ancillary benefits) will remain “substantially comparable” during the same period.
Equity Awards – Once WOW! goes private, any outstanding shares or vested equity awards will be converted into cash at $5.20 per share.
Severance – If positions are eliminated without cause as a direct result of the acquisition, affected employees will be eligible for severance, with details to be provided later.
Culture and Communication – Management has pledged ongoing updates and says the ownership change will bring more resources to execute on the company’s broadband expansion goals.
