US telecom service provider Cablevision Systems is exploring a sale of its Bresnan Broadband Holdings unit, which was acquired in June 2010, Bloomberg reports, citing a person familiar with the matter. The discussions are said to be at the preliminary stage though, and no investment banks have been hired to advise on a deal, the individual admitted. Potential suitors for Bresnan include Time Warner Cable (TWC), Suddenlink Communications and Charter Communications, the source said. It is noteworthy that Charter’s CEO Tom Rutledge was Cablevision’s former chief operating officer.
According to TeleGeography’s GlobalComms Database, Cablevision, the fifth largest US cable TV provider by subscribers, bought Bresnan from Providence Equity Partners for USD1.36 billion, giving it access to states including Colorado, Montana and Wyoming. At the time Cablevision competed against bids from TPG Capital, BC Partners, Suddenlink Communications and Ascent Media Corp.