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Wave Broadband Announces $2.365 Billion Sale to RCN Telecom Services
- Client News
- May 22, 2017
Paul, Weiss is representing Wave Broadband, a portfolio company of Oak Hill Capital Partners, in its $2.365 billion sale to RCN Telecom Services, LLC. TPG Capital, which owns RCN, is providing the financial backing for this transaction, which will create the sixth-largest cable company in the U.S. and provide broadband services in seven of the country’s 10 largest cities. Both are regional broadband providers offering high-speed data, video, and voice services to residential and business customers. The transaction is expected to close in the second half of 2017, subject to customary closing conditions.
The Paul, Weiss team included, among others, corporate partners Brian Lavin and Eric Goodison; tax partner David Sicular and counsel Alyssa Wolpin; intellectual property partner Chuck Googe; real estate partner Mitchell Berg; employee benefits partner Robert Fleder; litigation partner David Ball; environmental counsel William O’Brien; international trade counsel Richard Elliott; and antitrust counsel Marta Kelly.