Cable One Inc. detailed information about investments it made during the second quarter and July.
The company on July 1 closed the acquisition of ValuNet Fiber LLC, an all-fiber internet service provider headquartered in Kansas, for $38.4 million. The company also closed the acquisition of a nearly 40% stake in fixed wireless broadband company Wisper for $25.3 million in July. Cable One partnered with Stephens Capital Partners LLC and Nathan Stooke, Wisper's founder, who remains its largest owner, according to an Aug. 6 SEC filing.
In May, the company paid $27.2 million to buy a less than 10% stake in fixed wireless provider AMG Technology Investment Group LLC, or Nextlink, Cable One's CFO Steven Cochran said during the company's second-quarter earnings call.
Nextlink operates in six states in which Cable One also provides service. Bill Baker, the founder, majority owner and CEO of the company, will continue to run its day-to-day business, Cochran said.