Cable One, Inc. today entered into a definitive agreement to acquire the 55% equity interest in Mega Broadband Investments Holdings LLC (MBI) that it does not already own, giving Cable One full ownership of the Vyve Broadband operator. This move expands Cable One’s reach into the Southeast, Northwest and Mid-South regions, adding a complementary footprint to its existing markets. Interim CEO Todd Koetje emphasized that the acquisition aligns with Cable One’s mission to bring reliable high-speed internet to rural America and leverages MBI’s locally focused operating model.

For the 12 months ended September 30, 2025, MBI generated approximately $310 million in revenue and served roughly 210,000 residential and business data customers. Its network passes about 675,000 premises across 16 states under the Vyve Broadband brand, offering broadband, fiber connectivity, video and voice services. These metrics will bolster Cable One’s total customer base of over one million and enhance its network density in high-growth rural markets.

Cable One currently holds a 45% stake in MBI, with the balance owned by GTCR LLC affiliates and MBI management. The purchase price for the remaining interest is determined by a formula based on a multiple of adjusted EBITDA and net indebtedness, resulting in an expected payment between $475 million and $495 million. At closing, MBI’s net debt is projected at $845 million to $895 million in term loans maturing November 2027. Cable One plans to finance the deal through cash on hand and debt, potentially drawing on its $1.25 billion revolving credit facility or issuing new debt instruments.

The GTCR investors exercised their put option on January 2, 2026, triggering the sale. Subject to customary closing conditions, Cable One anticipates completing the transaction on October 1, 2026, when MBI will become a wholly owned subsidiary. Cravath, Swaine & Moore LLP served as legal advisor to Cable One on the deal.