Cable One’s $1.3 Billion Acquisition of Full Ownership of MBI

On January 5, 2026, Cable One, Inc. (“Cable One”) announced it has entered into a definitive agreement to acquire all of the equity interests in Mega Broadband Investments Holdings LLC (“MBI”) that it does not already own in a transaction valued at approximately $1.3 billion. Cable One currently owns a 45% stake in MBI, and certain affiliates of GTCR LLC and MBI management own the balance of MBI. MBI is a leading provider of broadband services across the Southeast, Northwest and Mid‑South United States and offers an extensive range of broadband, fiber connectivity, video and voice services for approximately 210,000 residential and business data customers. Based on currently available information, (i) the purchase price payable by Cable One for the 55% of MBI that it does not already own is expected to range between approximately $475 million and $495 million and (ii) MBI’s total net debt at the time it becomes wholly owned by Cable One is expected to be approximately $845 million to $895 million. Cravath is representing Cable One in connection with the transaction.

The Cravath team is led by partners Joseph D. Zavaglia and Matthew L. Ploszek and includes associates Armin Hoss, Joshua G. Ezickson and Pablo Storch on M&A matters; partner Lauren Angelilli and associate Josh Banafsheha on tax matters; partner Eric W. Hilfers and associate Brendon J. Klein on executive compensation and benefits matters; partner Isaac C. Beerman and associate Harold C. King on financing matters; partner Sasha Rosenthal-Larrea and of counsel Carys J. Webb on intellectual property matters; partner Jesse M. Weiss on antitrust matters; partner Matthew Morreale on environmental matters; and of counsel Brian M. Budnick on real estate matters. Blake J. Sloane also worked on M&A matters.