Cablevision Said to Bid $1.3 Billion for Firm

Apparently, Cablevision agreed on Sunday to pay more than $1.36 billion for Bresnan Communications, a cable services operator whose owners include the private equity firm Providence Equity Partners.

Cablevision appears to have beaten about seven bidders for Bresnan, which provides cable TV and Internet services in Colorado, Montana, Utah and Wyoming. If completed, the purchase would expand Cablevision well beyond its base in the Northeast. Bresnan, based in Purchase (NY), is considered an attractive target because of its high-speed Internet services and its presence in low-competition states. Providence led a group of investors, including the Quadrangle Group and Bresnan's founder, William J. Bresnan, that bought control of Bresnan from Comcast for $525 million in 2003.

The all-cash deal could be announced as soon as Monday.