ST. LOUIS, Sept. 1, 2011 /PRNewswire/ — Charter Communications, Inc. (NASDAQ: CHTR) today announced it has completed the acquisition of broadband systems serving, in aggregate, approximately 16,000 customers in Missouri from US Cable of Coastal Texas, LP.
"This transaction demonstrates Charter’s disciplined approach to capital allocation and M&A," said Charter President, Operations Steven Apodaca. "Our objective is to provide value to our customers and enhance their experience with Charter. This acquisition is aligned with our strategy of strengthening and growing core system clusters to enable significant operational synergies," he added. Charter is headquartered in St. Louis and serves the entire metropolitan area and customers in 25 counties in the state.
Charter will ensure a seamless transition for customers from the former US Cable operations in Hannibal, Mexico, Moberly and surrounding areas, and anticipates building on the products and services US Cable has offered in these communities.
The purchase price was not disclosed.
Charter is a leading broadband communications company and the fourth-largest cable operator in the United States. Charter provides a full range of advanced broadband services, including advanced Charter TV® video entertainment programming, Charter Internet® access, and Charter Phone®. Charter Business® similarly provides scalable, tailored, and cost-effective broadband communications solutions to business organizations, such as business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul. Charter’s advertising sales and production services are sold under the Charter Media® brand. More information about Charter can be found at charter.com.
SOURCE Charter Communications, Inc.