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# Stonepeak to buy cable operator Astound for $3.6 billion

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Stonepeak to buy cable operator Astound for $3.6 billion
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Including debt, deal tops $8 billion

Stonepeak Infrastructure Partners said it is buying Astound Broadband, the sixth largest U.S. cable-TV provider, for $3.6 billion, in one of the biggest leveraged buyouts this year.

Astound, owned by private-equity firm TPG and cable-management company Patriot Media Management, is the operator of RCN Telecom Services LLC, Grande Communications, Wave Broadband and enTouch Systems.

Based in Princeton, N.J., it provides high-speed-internet, broadband, digital-TV and phone services to more than one million customers in markets around the country including New York City, Chicago, Northern California, Texas and Washington, DC.

Including its $4.5 billion of debt, the deal values Astound at $8.1 billion.

An expanded version of this report appears on WSJ.com.

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