Recent Updates — CABO
Cable One, Inc. has mutually agreed with Mega Broadband Investments Holdings LLC (MBI) to extend the closing date of its purchase agreement for MBI's remaining equity interests from October 1, 2026, to October 9, 2026. The company also disclosed that discussions with certain potential investors regarding a financing transaction in connection with the acquisition have concluded. Cable One operates in the telecommunications industry, providing broadband internet, video, and voice services.
On September 17 and 18, 2026, Cable One borrowed $700 million under its $1.25 billion revolving credit facility to increase cash on hand and preserve financial flexibility. The borrowing is governed by the Fourth Amended and Restated Credit Agreement dated February 22, 2023, with a final scheduled maturity in February 2028. Cable One operates in the telecommunications industry, providing broadband, video, and voice services.
Cable One, Inc. appointed Heather McCallion as Chief Operating Officer, effective on or around August 24, 2026. Ms. McCallion brings over 25 years of telecommunications experience, most recently serving as Chief Experience Officer at WideOpenWest and previously holding executive roles at Cogeco Inc. Her compensation package includes an annual base salary of $475,000, a target bonus equal to 90% of her base salary, and a one-time equity grant valued at approximately $1,000,000 in cash-settled phantom restricted stock units vesting over two years. She will oversee operational strategy, residential sales, customer experience, field operations, and digital transformation across all regions. Cable One is a leading broadband communications provider delivering services to residential and business customers.
Cable One, Inc. reported second quarter 2026 results showing a net loss of $1.16 billion, driven by $597.7 million in non-cash asset impairments and a $262.3 million impairment of its Mega Broadband Investments Holdings LLC equity interest. Total revenues declined 8.4% to $348.9 million, with residential data revenues falling 7.3% to $212.6 million due to subscriber losses. Adjusted EBITDA decreased 14.6% to $173.5 million, while net cash from operating activities dropped to $120.9 million. The company repaid $62.8 million in debt during the quarter and holds $166.2 million in cash against a gross debt balance of $3.06 billion. Cable One operates as a broadband communications provider delivering residential and business internet, video, and voice services across 24 states.
Cable One, Inc. provided preliminary Q2 2026 results, estimating revenues between $346.0 million and $352.0 million, capital expenditures between $72.0 million and $76.0 million, and net residential data subscriber losses of 16,000 to 18,000. As of June 30, 2026, the company reported gross debt of approximately $3,058.4 million. Additionally, Cable One is considering not consummating the MBI Term Loan Exchange Offer and instead leaving MBI's senior secured term loans in place without new credit support upon acquiring the remaining equity interests in MBI. Cable One operates in the telecommunications industry, providing broadband and cable television services.
Cable One, Inc. announced that as of June 23, 2026, its MBI Term Loan Exchange Offer has received irrevocable lender acceptances from holders of approximately 34.0% of all outstanding MBI Term Loans. The Company reserves the right to not consummate the offer. Cable One, Inc. is a telecommunications provider providing residential and data and business data services.