US cableco Cablevision Systems Corporation is exploring unsolicited approaches for its regional Optimum West subsidiary, according to CEO James Dolan.
In a conference call yesterday, Dolan said that in recent weeks a number of parties had expressed…
US cableco Cablevision Systems Corporation is exploring unsolicited approaches for its regional Optimum West subsidiary, according to CEO James Dolan.
In a conference call yesterday, Dolan said that in recent weeks a number of parties had expressed interest in acquiring the unit, which provides cable services in the Western US states of Colorado, Montana, Wyoming and Utah.
“While it’s not been our intention to divest this valuable asset, based on the approaches that we received, we have decided to explore a potential transaction,” he said.
The company declined to elaborate on the discussions. A person close to the group said the approaches were in very early stages, and no bids had been submitted.
Optimum West was born out of Cablevision’s US$1.4bn acquisition of Bresnan Communications in 2010, which marked a major expansion from the group’s operations in the North East.
Reports have highlighted US cablecos Charter, Time Warner Cable and Suddenlink Communications as potential suitors.
Asked whether Cablevision would entertain such offers for its main Optimum East unit, Dolan said that, although he would have a duty to consider them as a publicly-listed company, “we’re really focused on what we’re doing with the operation and making it into what we think we could be”.
