Bresnan Communications was an American cable television provider formed by William Bresnan in 1984. It originally operated cable systems on Michigan's Upper Peninsula. Over the next fourteen years, its operations spread to Minnesota Wisconsin, Mississippi and Georgia. In 1994, the company added international operations in Chile and Poland, with the creation of Bresnan International Partners. The company reached 400,000 subscribers after purchasing systems from TCI. When AT&T acquired TCI, Bresnan began to consider an IPO. Before that could occur, Paul Allen's Charter Communications made an offer, and purchased Bresnan's U.S. cable systems for $3.1 billion,[1] organizing them under Charter Communications' umbrella.
| Industry | Cable television |
|---|---|
| Founded | 1984 |
| Founder | William Bresnan |
| Defunct | June 13, 2010 |
| Fate | Acquired by Cablevision, later sold to Charter Communications |
| Successor | Charter Communications |
| Headquarters | , |
Bresnan re-entered the cable business in April 2002, with the $735 million purchase of former AT&T Broadband Rocky Mountain systems from Comcast. The acquisition included some 300,000 subscribers in Montana, Wyoming, Utah and Colorado.
Cablevision acquired Bresnan on June 13, 2010 for $1.37 billion and rebranded the systems as Optimum West.[2] In February 2013, Charter Communications agreed to buy the former Bresnan systems for $1.625 billion.[3]
See also
editReferences
edit- ^ "Charter Communications Successful In Bid To Acquire Bresnan Communications". corporate-ir.net. Charter Communications. 1999-06-30. Retrieved 2009-01-27.
- ^ Hall, Jessica (2010-06-13). "UPDATE 1-Cablevision to buy Bresnan for $1.3 billion-source". Reuters. Retrieved 2011-11-08.
- ^ "Charter to Buy Cablevision Assets for $1.6 Billion". Dow Jones Newswires. 2013-02-08. Retrieved 2013-02-11.[permanent dead link]