Gores Affiliate Acquires Cable Systems


The Gores Group on Friday said that an affiliate company has acquired several Charter Communications cable systems, mostly in the Midwestern and Southeastern United States.

The Los Angeles private equity firm said that the deal enables Cobridge Communications, which operates cable TV, high-speed Internet, telephone and other communications services, to expand its territory in those regions.

Financial terms of the deal, which includes cable systems serving about 65,000 customers in Texas, Alabama, Arkansas, Georgia, Louisiana, Missouri and Ohio, were not disclosed.

“We are very excited about this transaction,” said Steve Yager, Gores Group senior managing director, in a statement. “We have been actively investing in the telecommunications and media space, and this transaction gives us another entry into this industry.”

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