Advanced Television

Liberty Global and Searchlight to acquire OneLink

June 27, 2012

Liberty Global has announced that its subsidiary, LGI Broadband Operations, has entered into an agreement, together with investment funds affiliated with Searchlight to acquire 100 per cent of the parent of San Juan Cable, OneLink Communications. OneLink will be merged with LGI’s existing operation, Liberty Cablevision of Puerto Rico LLC, to form the largest cable operator on the island. At March 31, 2012, OneLink passed 347,000 homes and served approximately 262,500 revenue generating units (RGUs).1

Mike Fries, President and Chief Executive Officer of Liberty Global stated, “Consistent with our strategy of consolidating markets within our footprint, this transaction will make us the leading provider of cable services in Puerto Rico, passing approximately 70 per cent of the cable homes on the island and adding substantial scale to our existing operation. As a leader in innovation in Puerto Rico, particularly in high-speed broadband and HD, we aim to bring that expertise to the OneLink business. On a combined basis, we will have approximately 700,000 homes passed and 480,000 RGUs, generating nearly $300 million in pro forma 2011 revenue. Finally, we are excited about working together with Searchlight and driving value to our respective stakeholders.”

Categories: Articles, Business, Cable, M&A