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Belgrade News: Cablevision’s purchase of Bresnan rumored to be complete

bresnan.pngThe Belgrade News reported yesterday on its Facebook profile that it’s hearing rumors that the Cablevision’s purchase of Bresnan Communications may be complete.

Cablevision, a New York-based company, announced back in June that it was buying Bresnan for $1.4 billion. Most of that purchase price will be borrowed money, though. Business Week reported on Nov. 4 that Cablevision was seeking $1.09 billion in loans and bonds for the deal.

Bresnan has more than 300,000 customers in Colorado, Montana, Wyoming and Utah. It is owned by Providence Equity Partners, which bought the company from Comcast in 2003 for $525 million.

The purchase was not expected to affect Bresnan’s nearly 700 employees in Montana, a spokesman told the Billings Gazette in June.

If anything more comes out of this today, I’ll post an update here.