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Hicks Muse Buys Puerto Rican Cable Operator

Sep 7, 2004  •  Post A Comment

Private-equity firm Hicks, Muse, Tate & Furst said Monday it has signed a definitive agreement to acquire Centennial Puerto Rico Cable TV Corp. from Centennial Communications Corp. for $155 million in cash.

As a result of the deal, Dallas-based Hicks Muse will take ownership of a cable operator with systems in Puerto Rico’s second- and third-largest cities, Ponce and Mayaguez, respectively. The company has 73,000 cable customers and 5,000 high-speed data customers.

Hicks Muse officials expect to complete the deal in early 2005.

This transaction marks the 11th time Hicks Muse has invested in cable. The company’s first investment came in 1995 with Marcus Cable, and most recently the company completed an acquisition of Persona, an operator based in Canada.