FCC Approves Sale of Consolidated Communications to PE Firms

WASHINGTON, Dec. 9, 2024 – The Federal Communications Commission approved Monday the $3.1 billion purchase of Consolidated Communications to two private equity firms.

Searchlight Capital and Canadian firm British Columbia Investment have the agency’s greenlight to take Consolidated private. The ISP has nearly 400,000 broadband subscribers in the US and with nearly 250,000 fiber customers, making it one of the country’s largest fiber providers.

The companies plan to fully close the deal by early 2025 and say they have received approval from all state utility regulators in Consolidated's footprint. Searchlight is set to own 77.2 percent equity in Consolidated, with BCI controlling the remaining 22.8 percent.