MidOcean Partners and Crestview Partners agreed to sell OneLink Communications to Liberty Global Inc. (LBTYA, LBTYB and LBTYK) and investment funds affiliated with Searchlight Capital Partners L.P. for $585.25 million.
OneLink Communications, the parent of San Juan Cable LLC, provides cable TV, broadband and telephony services in Puerto Rico. The transaction is subject to regulatory approval, and is expected to close in the fourth quarter.
MidOcean and Crestview had acquired OneLink in October 2005 from Adelphia Communications, when its services were limited to basic and digital cable TV and high-speed dat.
Following the acquisition, OneLink Communications upgraded its plant to 860 MHz; expanded its high-speed data service offering; launched telephony services, VoD and HD/DVR services; and launched an all-digital system transition that is expected to be completed in 2012.
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