Cable One Gets Another Week to Close MBI Deal
The company is acquiring the 55 percent of MBI that it does not already own
WASHINGTON, Oct. 2, 2026 – Initially planned for Oct. 1, Cable One’s acquisition of Mega Broadband Investment has been pushed back to Oct. 9.
Cable One said in a release Friday it was also in “advanced discussions” on securing financing from investment firm GTCR, the company from which Cable One was going to acquire the 55 percent of MBI it does not already own.
“On the positive side, CABO has, at least for now, avoided the worst case of filing for bankruptcy, and GTCR seems to be willing to put in new capital, which could avoid the most negative downside case of wiping out existing equity holders entirely,” BNP Paribas analyst Sam McHugh said in an investor note.
He said it was possible GTCR might buy some of Cable One in exchange for only a partial cash payment for MBI.
When GTCR exercised a contractual option to sell the rest of MBI to Cable One in January, Cable One expected to pay between $475 million and $495 million.
The cable operator maxed out a $1.25 billion credit facility last week, borrowing its remaining $700 million to “increase cash on hand and preserve financial flexibility.” Cable One didn’t mention the MBI transaction as a reason for borrowing the cash.
“Given the high leverage of the company today, some kind of debt restructuring will probably be required alongside this, creating significant complexity still in the situation,” McHugh wrote.
MBI’s net debt, which Cable One would inherit, is now expected to be between $895 million and $925 million. MBI’s debt was initially forecast lower, but Cable One raised its estimate after relatively poor performance from MBI’s Vyve Broadband business.
Cable One’s existing net debt was about $3 billion as of June 30.
Cable One CEO Jim Holanda said in a statement that GTCR and other investors were “collaborating with us to formulate a solution that supports the future of Cable One,” and that “the contemplated financings are intended to strengthen Cable One’s overall financial position.”
Cable One stock was up more than 17 percent Friday morning.
Vyve had 675,000 passings and 210,000 subscribers as of Sept. 30, 2025. The company announced a leadership change in April following the departure of former CEO Andy Parrott.
Cable One counted 968,200 residential and business broadband subscribers at the end of the second quarter.
The companies said in their release that “while all parties are working diligently on the financing transactions, no definitive agreements have been entered into thus far, and there can be no guarantee that any transaction will materialize.”
