At the time of Crestview's exit, Charter was the fourth-largest cable operator in the United States. It offers traditional cable video programming, high-speed Internet, broadband cable, telephone and other services to residential and consumer customers.
Crestview's cable experience gave the team a unique understanding of the business and made them a real value-add partner.Tom Rutledge, President & CEO
Seeing through negative market perception
Despite a dislocation in cable valuations brought on by the financial crisis and concerns over threats from competing technologies, Crestview was attracted to Charter’s under-managed and underappreciated assets. This was supported by extensive operating and investment experience in cable and unique knowledge of Charter given that 20% of its systems had once been part of Marcus Cable, which was founded by Crestview partner Jeff Marcus.
Navigating a complex restructuring
Crestview's funds initially invested in notes at a discount to face value. As restructuring discussions began, Crestview played a key role in negotiating Charter’s 2009 restructuring plan, which ultimately preserved value, bank debt and tax attributes. Crestview was also one of three bondholders to backstop its $1.6 billion rights offering in 2009.
matters in operations
Following the restructuring, Crestview helped recruit Tom Rutledge, an industry-leading operator, as the new president and CEO. Widely regarded as a top CEO in cable, he transitioned the company to an all-digital network, enhanced the video product and simplified pricing plans to boost triple-play penetration.
Hornblower Holdings is a leading North American operator of passenger cruise vessels. Its services include ferry transportation in major metropolitan areas, cruises and events in top tourist destinations and domestic overnight river cruises.
Cumulus is a radio broadcasting company in the United States, with a portfolio of over 450 FM and AM stations across 90 markets. It also operates a radio network division that produces and syndicates radio content for third-party stations.
WOW! is the sixth largest cable operator in the U.S., with over 770,000 customers in 19 markets across the Midwest and Southeast as of September 30, 2017. It offers a full suite of residential cable and commercial services including video, telephone and data.
NEP is the largest global outsourced provider of comprehensive live and broadcast production solutions, with leading market positions in the United States, Europe and Australia. It serves the premium sports, entertainment and live event production markets.
Prior to its acquisition by Time Warner Cable in February 2012, Insight was the ninth largest cable operator in the United States with a focus on Kentucky, Indiana and Ohio. It offered a full suite of products to both residential and commercial customers.
- Industrial Media produces and monetizes media content based on a portfolio of brands. The company's assets include an ownership interest in the rights to the IDOLS television franchise, the So You Think You Can Dance franchise, IPC and Sharp Entertainment.
ICM Partners is one of world’s leading talent agencies, representing clients across the entertainment world, including film, television, music, books, theater, broadcast, commercials, licensing, live entertainment, cinematography and costume design.
Prior to its sale in November 2012, OneLink was the sole provider of cable television services to the greater San Juan area and the largest provider of cable television services in Puerto Rico.
Interoute is an integrated network and enterprise services company that owns and operates an extensive fiber network and cloud services platform across Europe. The company operates one of Europe's largest physical fiber optic networks across 28 countries.
Congruex is a newly-formed company focused on consolidating the highly fragmented broadband network design, engineering, construction and maintenance services sector.