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Cox Systems Sale Update
by Smokey 03:00AM Tuesday Jun 21 2005
Cox reportedly close to selling four systems for $2 billion.

A blurb in a Reuters story (found here) states that Cox Communications has distributed information to prospective bidders for the four cable systems listed for sale earlier this year.

Those systems include: West Texas, serving the Lubbock, Midland, Amarillo, San Angelo and Abilene areas; North Carolina, serving the Greenville, Rocky Mount, New Bern and Kinston areas; Humboldt County, California; and much of Middle America Cox (MAC), primarily comprised of operations in Texas, Louisiana and Arkansas. MAC also includes certain systems in Oklahoma, Mississippi and Missouri. Excluded from the potential sale are some operations serving the Northwest Arkansas and Lafayette, Louisiana areas. The systems offered for sale have almost 900,000 subscribers.

The sale is expected to bring in 2 Billion in cash for Cox Communications to help pay down the debt incurred from having gone private late last year.