Cablevision looking at possible sale of its broadband unit-WSJ
Oct 12 (Reuters) - Cablevision Systems Corp is looking at the possibility of selling its broadband telecommunications subsidiary Bresnan Broadband Holdings LLC, the Wall Street Journal reported, citing people familiar with the matter.
The paper's sources said that a formal auction was unlikely and that the U.S. cable operator might reach out to parties like Charter Communications Inc and private-equity firms for sale.
The fifth largest U.S.-cable operator acquired Bresnan in 2010 for $1.37 billion from Providence Equity Partners, to get a toehold in the less competitive western states like Wyoming and Utah.
It is unclear how much Cablevision expects to fetch for Bresnan, and whether a sale will happen, Wall Street Journal reported.
A Cablevision spokesman declined to comment. Charter was not available for comment.
(Reporting by Krithika Krishnamurthy in Bangalore; editing by Carol Bishopric)
Keywords: BRESNAN CABLEVISIONSYSTEM/