Cable One acquisition history

Acquired the GTCR-owned cable operator serving non-urban markets across seven states (AR, IL, IN, LA, MS, MO, TX), adding ~245,000 primary service units and expanding Cable One's rural high-speed-data and business-services footprint. Announced January 18, 2017 at $735 million; final purchase price of $740.2 million per the FY2021 10-K.

We are excited about our acquisition of NewWave, which operates in non-urban markets similar to ours and has significant high-speed data and business services opportunities that we are well-positioned to execute on.

Acquired the Stephens Capital Partners-backed facilities-based fiber operator with 2,400+ route miles of dense metro fiber across Southern Illinois, giving Cable One a premier fiber platform and enterprise/business-services growth engine within its existing footprint. Announced November 12, 2018; closed January 8, 2019.

This transaction provides us with a unique opportunity to continue to grow Clearwave in its existing footprint as well as expand our fiber footprint and enterprise business segment.

Acquired the ~80-year-old family-owned cable operator's connectivity business serving customers across AR, IL, LA, MO, OK and TX, extending Cable One's non-urban footprint with ~134,000 primary service units. Announced April 1, 2019 at $525.9 million; final purchase price of $531.4 million per the FY2021 10-K.

Fidelity is a fantastic geographical, cultural and business fit. Its operating philosophy and customer-centric focus are similar to our own.

Acquired an all-fiber internet service provider headquartered in Kansas, a bolt-on that added fiber-to-the-home capability adjacent to Cable One's markets. Purchase price disclosed in the FY2021 10-K.

Acquired the ~85% of Hargray it did not already own, converting a 15% minority stake (from the October 2020 Anniston system contribution) into full ownership of the Southeastern U.S. facilities-based provider across AL, FL, GA and SC. Implied a $2.2 billion total enterprise value on a cash-free, debt-free basis; purchase price of approximately $2.0 billion. ~$2.0 billion (implied $2.2 billion enterprise value for 100%).

This transaction will also serve as a potential platform for future organic and inorganic growth in the region as we look to continue to expand our footprint.

Acquired certain assets and assumed certain liabilities of a data, video and voice provider in central Missouri on a debt-free basis, expanding Cable One's Missouri footprint with expected margin growth and cost synergies. Purchase price disclosed in the FY2021 10-K.