Wideopenwest Stock Price, News & Analysis

WOW! Internet, Cable & Phone (NYSE: WOW) has announced a new Credit Facility totaling $730 million in term loan B and $250 million in revolving credit. The facility is expected to close next week and will mature in December 2028, with an interest rate of SOFR plus 3.00%. The funds will be used to refinance existing debts and pay associated fees. The refinancing aims to optimize the company's financial structure amidst the competitive broadband market.

WOW! Internet, Cable & Phone (NYSE: WOW) has received a credit rating upgrade to BB- from S&P Global and B1 from Moody's Investors Service. This upgrade is attributed to the company using proceeds from the divestiture of service areas, with a total of $1.8 billion raised from key sales, to pay down debt. The latest sale, finalized on November 1, 2021, included Chicago, Evansville, and Maryland areas for $661 million. The stable outlook from both agencies suggests WOW! will have financial flexibility for expansion and growth.

WOW! Internet, Cable & Phone (NYSE: WOW) announced that its 1 gigabit high-speed internet service is now available to all residential and business customers in mid-Michigan, including Lansing and Potterville. This rollout emphasizes the company's commitment to providing fast and reliable internet, especially during the COVID-19 pandemic, where 90% of adults deemed internet essential. The announcement highlights the advantages of a 1 Gig connection in supporting multiple devices and high streaming demands. WOW! serves approximately 1.9 million customers across 14 markets, delivering a range of advanced broadband services.

WOW! Internet, Cable & Phone (NYSE: WOW) will host its Investor Day on December 9, 2021, at 12:30 p.m. ET. The event will feature key speakers including CEO Teresa Elder and CFO John Rego. Investors can access the live webcast on ir.wowway.com. WOW! serves over 1.9 million customers across 14 markets, primarily in the Midwest and Southeast, offering high-speed internet, cable TV, and phone services. The company is recognized for its strong workplace culture, winning multiple awards for employee satisfaction.

WOW! Internet, Cable & Phone (NYSE: WOW) has announced a scholarship program for students at Newnan, East Coweta, and Northgate high schools, providing $13,500 for the 2022-2023 academic year. The initiative aims to support up to three students from each school with $1,500 scholarships. This program aligns with WOW!'s commitment to the Newnan community following their transition from NuLink, including significant investments to enhance local services. Applications will be available between December and January, with winners announced in the spring.

ENGLEWOOD, Colo., Nov. 10, 2021 /PRNewswire/ -- WOW! Internet, Cable & Phone (NYSE: WOW) announced participation in the RBC Global Technology, Internet, Media, and Telecom Conference. CEO Teresa Elder and CFO John Rego will engage in a fireside chat at 10:40 AM ET on November 16, 2021. A live webcast will be accessible on the company's investor relations website at ir.wowway.com. WOW! is a top broadband provider, serving 1.9 million consumers across 14 markets, including Michigan, Alabama, and Florida, with a focus on high-speed Internet, cable TV, and phone services.

WideOpenWest reported Q3 2021 results showing a total revenue of $184.0 million, up $0.9 million from Q3 2020. High-speed data (HSD) revenue rose 15% to $103.3 million. Despite these gains, the company faced a net loss of $21.2 million. The Pro Forma Adjusted EBITDA was $66.7 million, up 6%, and the Pro Forma Adjusted EBITDA margin improved to 36.3%. Free Cash Flow reached $30.7 million, contributing to a historic low leverage ratio of 2.6x. Year-to-date revenue totaled $547.4 million with a net loss of $66.4 million, highlighting ongoing challenges alongside operational growth.

On November 1, 2021, WOW! Internet, Cable & Phone (NYSE: WOW) announced the successful completion of its sale of the Chicago, Evansville, Indiana, and Anne Arundel, Maryland service areas to Radiate HoldCo for $661 million. This transaction follows a prior sale of its Cleveland and Columbus, Ohio areas, generating a total of $1.8 billion in gross proceeds. The sales allow WOW! to reduce debt and enhance its financial position while focusing on its broadband-first strategy and transitioning services smoothly to Astound Broadband.