The new investment will bring in further funds with which to expand UPN’s footprint. Ap02:10 PM Eastern Daylight Time ATLANTA & CHARLOTTE, N.C.-(BUSINESS WIRE)-Cox Communications has entered into a definitive agreement to acquire Charlotte, N.C.-based Segra, one of. Ridgemont Equity Partners bought a majority stake in UPN back in 2010, helping fund the company’s expansion over the past six years.
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However, since the company’s current management team will be staying on, the company will continue to “operate as a stand-alone business within the Cox family of companies” - which surely suggests they’ve taken full control of UPN through the investment. Instagram Story Grabber : Effortlessly save Instagram stories and access them at your convenience.įinancial terms of the deal were not available, so we really have little detail on how much of UPN will be owned by Cox. By making a strategic investment, they hope to preserve the dynamic fiber buildout machine that UPN has built while gaining a seat at the table for their own needs and not narrowing its focus to the Cox cable franchise footprint. UPN covers a lot of ground outside of Cox’s cable franchise footprint, and Cox is not buying the company outright. But this is a very different move for Cox than its purchase a few years ago of EasyTel in Tulsa was. There’s definitely some overlap with Cox, especially in Omaha and other Midwestern communities. Today their network stretches 6,200 route miles and hooks up some 3,750 on-net buildings. The company leveraged the E-Rate program to build small pockets of fiber in a wide range of communities, including a bunch in Oklahoma, before moving into the metro and regional fiber markets more broadly in recent years. They have also been quite busy in Colorado’s Front Range area and in Dallas. They have a very deep network in eastern Nebraska, and have been building out extensively in Iowa over the last year or two. Unite Private Networks operates metro and regional fiber networks around the country, but especially within the triangle between Chicago, Dallas, and Denver. They have made a strategic investment in Unite Private Networks, becoming a major shareholder alongside Ridgemont Equity Partners and the company’s management team. The use of any third party trademarks on this site in no way indicates any relationship between and the holders of said trademarks, nor any endorsement of by the holders of said trademarks.Late yesterday, the cable operator Cox Communications made a significant move deeper into the world of metro and regional fiber. remain the property of their respective owners and are used by only to describe products and services offered by each respective trademark holder. The transaction is set to close by June 30th and aims to bring UPN and Segra, another business services company in which Cox has invested, together to form a new standalone company. does not offer internet, TV, or home phone service. Cox Communications plans to acquire the remaining interest in enterprise fibre provider UPN (Unite Private Networks). is a website intended for research, review and comparison and, as such, falls under "Fair Use". based Segra, one of the largest privately-held fiber infrastructure providers in the U.S. Certain providers listed on our website offer us affiliate revenue, or a referral fee when you order their service.ĭisclaimer: All rights reserved. ATLANTA and CHARLOTTE, N.C., Ap/ PRNewswire / - Cox Communications has entered into a definitive agreement to acquire Charlotte, N.C.
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