By KWMU
St. Louis, MO – St. Louis-based Charter Communication said Tuesday morning it will sell some of its cable TV systems for almost $900 million, including some in southern Illinois.
In all, it means more than a half-million customers who either got cable TV, digital cable, or high-speed Internet from Charter will have a new provider.
The systems in southern Illinois and Kentucky are being sold to a company called New Wave Communications. The larger part of the sale, though (in terms of affected customers) is of systems in West Virginia and Virginia to Cebridge Acquisition Company.
"Proceeds from this sale will increase the Company's liquidity for reinvestment in our business for future growth," said Charter President and CEO Neil Smit, in a statement.