WOW! Buys Knology For $1.5 Billion

Englewood, Colorado-based residential and commercial high speed Internet, TV, and telephone provider WOW!, which is owned by private equity firm Avista Capital Partners, said Wednesday that it has acquired Knology, a provider of interactive communications and entertainment services in the Southeast, upper Midwest and Kansas. WOW! said it would pay $19.75 per share in cash for publicly held Knology, in a deal worth $1.5 billion. WOW! said the deal would help expand its geographic reach. WOW! serves Michigan, Illinois, Ohio, and Indiana.