SOURCE: Cequel Communications, LLC

November 29, 2010 08:00 ET

Suddenlink Agrees to Purchase NPG Cable, Inc.

ST. LOUIS, MO--(Marketwire - November 29, 2010) - Cequel Communications, LLC, which does business as Suddenlink Communications, announced today that it has signed a definitive agreement to acquire NPG Cable, Inc., and its subsidiaries from News‐Press & Gazette Co., for approximately $350 million, subject to customary working-capital closing adjustments. Suddenlink expects to close the acquisition in the first quarter of 2011 and currently has sufficient existing liquidity sources to fund the transaction.

NPG's cable systems serve approximately 83,000 customers, representing approximately 210,000 revenue generating units or RGUs, with operations in St. Joseph, Mo.; Mammoth Lakes, Calif.; and several, clustered Arizona communities, including Flagstaff and Sedona, Lake Havasu and Kingman.

"We're excited about the opportunity to acquire NPG and welcome its employees and customers to the Suddenlink family," said Jerry Kent, Suddenlink's Chairman and Chief Executive Officer. "This acquisition is a solid fit with our existing operations and we have a proven track record of serving similar communities. We have great respect for NPG and its owners, the Bradley family, and look forward to working with them on the transition."

Suddenlink has operations in Maryville, Mo., and Bishop, Calif., which are proximate to NPG's cable systems in St. Joseph and Mammoth Lakes, respectively. Suddenlink officials said there is an opportunity to interconnect those properties after the acquisition closes. 

"The foundation of our success at NPG Cable for the last 45 years has been our family culture, where employees approach their daily work and make decisions as if they own the company," said Brian Bradley, NPG's Chief Administrative Officer. "We are thrilled that Suddenlink, which has a great reputation, shares a similar culture."

RBC Daniels is acting as the exclusive financial advisor to NPG in this transaction.

Cautionary Note Regarding Forward-Looking Statements: Some statements in this Press Release are known as "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements about our plans, objectives, expectations and intentions and other statements contained in this Press Release that are not historical facts. When used in this Press Release, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results, events or developments to differ materially from those expressed or implied by these forward-looking statements, including our plans, objectives, expectations and intentions and other factors. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to the Company and speak only as of the date on which this Press Release is posted on the Company's website (suddenlink.com). The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

Cequel Communications, LLC, doing business as Suddenlink Communications (www.suddenlink.com) is the seventh largest cable operator in the United States, supporting the information, communication and entertainment demands of approximately 1.3 million residential customers and thousands of commercial customers in Arkansas, Louisiana, North Carolina, Oklahoma, Texas, West Virginia and elsewhere. Suddenlink simplifies its customers' lives through one call for support, one connection, and one bill for TV, Internet, phone and other services.

NPG Cable, Inc. offers an array of services to residential and business customers in three states, including high-definition cable television, high-speed Internet service, digital phone service, video on demand, and web hosting.

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