Cable One pursuing fiber JV

Cable One Inc. is seeking to form a joint venture that would speed up the rollout of fiber internet in certain markets while providing connectivity to unserved and underserved areas in such markets.

The potential deal would see Cable One contributing fiber assets in some markets served by Delta Communications LLC, or Clearwave, and Hargray Acquisition Holdings LLC and its subsidiaries to the venture, according to a Nov. 3 SEC filing. Certain unaffiliated third-party investors would contribute cash to the joint venture.

The transaction's terms remain subject to negotiation. The joint venture deal's completion remains subject to the involved parties approving and entering into binding definitive agreements, as well as the satisfaction or waiver of any closing conditions. It is unsure whether the transaction will be completed on the said terms or at all.

Hargray Acquisition Holdings is an entity related to Hargray Communications Group Inc., which Cable One acquired in May and operates in 14 markets across Alabama, Florida, Georgia and South Carolina. Cable One also purchased Delta Communications, or Clearwave, which serves customers in southern Illinois.