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Stonepeak to buy cable provider Astound in $8B deal

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Private equity firm Stonepeak Infrastructure Partners agreed to purchase cable provider Astound Broadband in an $8.1 billion deal.

Owned by TPG and Patriot Media, Astound operates the RCN, Grande, Wave and enTouch regional networks. They have more than 1 million collective customers in large metropolitan areas including New York City.

Media industry analyst MoffettNathanson estimates cable broadband subscriber growth was up as much as 6.9% in the second quarter.

Read more from the Financial Times.

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