ABRY Partners: Financing partner for the media and communication industries

ABRY Partners and Oak Hill Capital Partners Complete the Sale of WideOpenWest

NEW YORK (May 1, 2006) - ABRY Partners and Oak Hill Capital Partners today completed the sale of cable operator WideOpenWest (“WOW!”) to Avista Capital Partners.  
 
WOW! is a fully integrated, competitive provider of cable television, high speed internet and digital telephony services reaching over 1.4 million households in Illinois, Indiana, Michigan, and Ohio. The existing management team will continue to operate the company. 

Colleen Abdoulah, president and chief executive officer of WOW! said, "We have enjoyed a very successful and collaborative partnership with Oak Hill and ABRY. We are also pleased to be teaming up with Avista to continue to grow our outstanding business."

WOW! was formed by ABRY, Oak Hill and management in November 1999 to pursue opportunities in the cable industry. In 2001, the Company acquired substantially all of its cable operations by purchasing Ameritech New Media from SBC Communications.

J. Crandall, managing partner of Oak Hill Capital Partners, said, "WOW! has performed exceedingly well, which is a testament to the quality of its people and the outstanding service that they provide to their customers. During the period of Oak Hill and ABRY's ownership, WOW! implemented several marketing, operational and strategic improvements which resulted in industry-leading operating and financial performance.

Jay Grossman, managing partner of ABRY Partners, added, "we have thoroughly enjoyed our successful partnership with the WideOpenWest management team and believe that they will continue to lead the industry with best-in-class customer service and generate outstanding growth in the future."

Based in Boston, Massachusetts, ABRY Partners specializes as a financing partner for the media and communication industries and enjoys a position as one of the most experienced and successful media-focused private equity investment firms in North America. Since 1989, ABRY has completed over $18 billion of leveraged transactions and other private equity and mezzanine investments, representing investments in more than 450 media properties. Extensive and long-standing relationships with many different stakeholders in the media and finance businesses allow ABRY to contribute significant value to operating partners and portfolio companies.

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