Benzinga | Mar 1, 2021 08:01AM EST

Altice USA To Acquire Morris Broadband, Transaction Has Implied Enterprise Value Of $310M

Altice USA (NYSE:ATUS) today announced it has entered into a definitive agreement to acquire the assets of Morris Broadband, LLC ("Morris Broadband"). The transaction will expand Altice USA's footprint in North Carolina, where it already has a presence with its Suddenlink business, and implies an enterprise value of $310 million total for the Morris Broadband business on a debt-free and cash-free basis. Following this acquisition, North Carolina will represent the sixth largest state for Altice USA out of its 21 states of operations in terms of number of residential customers, demonstrating the Company's commitment to invest heavily in the region with additional resources and network investments.