D.C. Memo: Is WOW! Worth Just $400 Million?

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WOW! In Play: WideOpenWest said Friday it received a surprise bid from DigitalBridge Investments and Crestview Partners to buy out the company at $4.80 a share, giving WOW! a valuation of $400 million. Crestview already owns 38% of WOW! shares, which it will contribute to the equity portion of the deal. The WOW! Board of Directors intends to establish a…