DigitalBridge and Crestview Partners are set to acquire broadband provider WideOpenWest! (WOW!) in a deal worth $1.5 billion.

The two companies will take WOW! private, and acquire all of the outstanding shares of common stock of WOW! that are not already owned by Crestview and its affiliates for $5.20 per share.

This share price is an increase of 63 percent on the closing price last Friday (August 8).

WOW! confirmed that the deal has been "unanimously approved" by the company's board of directors.

The company noted that Crestview has entered into a rollover, voting, and support agreement under which Crestview has agreed to vote all of its WOW! shares (which represent approximately 37 percent of WOW!'s outstanding shares) in favor of the transaction.

"WOW!'s next chapter with DigitalBridge and Crestview will bring new and exciting opportunities to our stakeholders and enhance our position as a trusted provider of fast, reliable, and affordable broadband solutions," said Teresa Elder, CEO, WOW!.

Founded in 1996, WOW! provides broadband to nearly two million residential, business, and wholesale consumers.

The company offers services in 20 markets, primarily in the Midwest and Southeast, including Michigan, Alabama, Tennessee, South Carolina, Georgia, and Florida, including the new all-fiber networks in Central Florida; Hernando County, Florida; and Greenville County, South Carolina.

"We believe this transaction positions the company to deliver meaningful benefits to its customers and the communities it serves," added Jonathan Friesel, senior managing director and head of fiber at DigitalBridge.

"We intend to invest in expanding and upgrading WOW!'s networks, adopting new technologies, and ensuring the organization has the resources and support needed to continue delivering fast, reliable Internet service and a high-quality customer experience at competitive prices."

The transaction is expected to close by the end of the year or in the first quarter of 2026, subject to the satisfaction of the closing conditions.

WOW! reported a slight drop off in broadband subscriptions for Q2, losing 3,900 broadband subs in the quarter. The company currently serves 462,000 broadband customers.

For the quarter, WOW! posted revenue of $144.2 million, down 9.2 percent year-on-year.