The exit of Cable ONE from the Graham Holdings portfolio of assets is closer to being a done deal. The MVPD completed a note offering which will forward its exit from the former corporate home of The Washington Post.
Graham will be left with a five-station television group among its assets.
Cable One’s senior unsecured notes were good for $450 million.
The proceeds, along with cash on hand, will used to pay a special dividend to Graham and thus secure Cable ONE’s emergence as a separate entity.
Cable ONE serves small city subscribers in 19 midwestern, western and southern states.
Graham’s television stations include WDIV Detroit, KPRC Houston, WKMG Orlando, KSAT San Antonio, WJXT Jacksonville.