Atlantic Broadband, a Quincy-based telecom company, is paying $200 million for MetroCast Communications of Connecticut.
MetroCast delivers serves 22,000 TV, 22,000 Internet and 8,000 phone customers in New London and eight other communities in eastern Connecticut. Atlantic Broadband, a wholly owned subsidiary of Montreal-based Cogeco Cable Inc., presently offers cable TV service to about 224,000 subscribers in Pennsylvania, Florida, South Carolina, Delaware, and Maryland, as well as phone and broadband service. The MetroCast deal will give Atlantic Broadband a foothold in New England for the first time.
“We think it is a strong growth opportunity for the business,” said Atlantic Broadband president David Isenberg. “These are well maintained, well managed systems. They present an opportunity for us to continue and to optimize our growth.”
The deal reflects an ongoing consolidation of the cable industry.