Deals
TPG to Acquire RCN, Grande in $2.25 Billion Cable TV Deal
- Firm to acquire RCN for $1.6 billion, Grande for $650 million
- Deal is latest in a wave of consolidation in cable industry
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Private-equity firm TPG agreed to buy two small cable providers, RCN Telecom Services LLC and Grande Communications Networks LLC, in a $2.25 billion bet on demand for faster internet connections and video.
TPG will acquire RCN for $1.6 billion and Grande for $650 million from private-equity firm Abry Partners LLC to create a top 10 cable company in the U.S., according to a statement Monday. Google Capital, Alphabet Inc.’s investment fund, will acquire a minority stake in the companies, according to a representative, who declined to provide additional details.