D.C. Memo: Does WOW! Buyout Have a DEI Problem at the FCC?
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WOW!: A day after selling to private equity buyers, WOW! made a promise to employees: No layoffs. “We expect WOW! employees will continue to be employed by WOW!, which will continue as an operating company under our new ownership,” WOW! said in an SEC filing Tuesday. WOW! has about 3,000 employees. “At this time, there are no changes to benefits or compensation. Your base salary or wage rate and target cash incentive opportunity will not be decreased for 12 months after the transaction close date,” the company said. WOW! announced Monday that Crestview Partners, its largest shareholder with a 37% stake, and DigitalBridge Investments, are buying the broadband ISP for $5.20 a share, with an enterprise value of $1.5 billion. “WOW! has a unique opportunity to partner with two global private infrastructure investment firms with strong track records of helping companies reach their growth potential. DigitalBridge and Crestview bring significant expertise in broadband and digital infrastructure and additional financial capacity to support and continue our growth strategy,” WOW! said of the all-cash transaction expected to close by the first quarter of 2026. (More after paywall.)
