Press Release 09.05.17 - Block Communications to Acquire Ripley Video Cable_Photo

Block Communications to Acquire Ripley Video Cable

September 5, 2017

Press Release

TOLEDO, OHIO (September 1, 2017) Block Communications, Inc., a 117-year-old diversified media holding company with telecommunications operations in northern Mississippi and Alabama, serving customers through its MaxxSouth Broadband subsidiary, announced it has signed an agreement to acquire the assets of Ripley Video Cable, a cable and broadband services provider in north-central Mississippi.

Ripley Video Cable provides cable television, high-speed internet and digital voice services to residential and commercial customers in the towns of Ripley, Blue Mountain, Falkner and Pine Grove, all within Tippah County, Mississippi.

Allan Block, Chairman of Block Communications We are a family-owned company operating in the cable business since 1965, and so we well recognize the hard work Leon and Diane Bailey, owners of Ripley Video Cable, have done over the years to provide excellent, local customer service. The Baileys’ unparalleled contribution to the cable TV and broadband industry within Mississippi will live on through our MaxxSouth operation because we share a common vision: To be good corporate citizens by giving back to our communities in ways that enhance their quality of life.”

Peter Kahelin, MaxxSouth Broadband President and CEO said, “MaxxSouth will continue Ripley Video Cable’s tradition of outstanding, local customer service and community support, which made the company a staple in the towns they serve Kahelin and his team in Mississippi have led MaxxSouth since 2014, building a record of successful broadband operations, support for community organizations, and dedicated customer service in the long tradition of Block-owned businesses.

Kahelin added, “I am honored to welcome Ripley Video Cable to our MaxxSouth family. Their almost 50-year history as a local business and their dedication to improving the lives of the people in the Mississippi communities they serve is what makes Ripley Video Cable such a perfect fit for us.” In the nearly three years MaxxSouth has operated in Mississippi and Alabama, it has upgraded its physical plant to provide higher and more reliable internet speeds, expanded its video offerings, and improved its retail stores to create a much more pleasant and welcoming experience for its customers.

“My wife Diane and I are confident that Block Communications, through its MaxxSouth Broadband leadership, will serve our communities with a strong commitment to excellence and will carry on our customer-oriented philosophy”, said Leon Bailey, Jr., of Ripley Video Cable. “We are proud to pass the torch on to another family-owned company that enjoys a long, successful history in the telecommunications industry.”

Jodi Miehls, Block Communications Executive Vice President of Finance and CFO added “This acquisition further advances Block Communications’ broadband growth and geographical diversification strategy that was put in motion with the 2014 purchase of the former Harron Communications (MetroCast) properties in Mississippi and Alabama, now operating as MaxxSouth

“We now look forward to investing in the future of Ripley Video Cable and its customers by, among other things, upgrading the network and offering a wider selection of video channels, faster internet connections and a complete suite of advanced business service”, concluded Allan Block.

The transaction is expected to close during the last quarter of 2017, upon regulatory approvals. Last Mile Communications, LLC (LMC) and Milestone Communications, Inc., served as the exclusive advisors to Block Communications, Inc./MaxxSouth Broadband and Ripley Video Cable, respectively.

About Block Communications, Inc. (BCI)

Block Communications is a 117-year-old privately held diversified media company headquartered in Toledo, Ohio with operations in cable television/broadband, commercial telecommunications, newspaper publishing and television broadcasting. The company owns and operates Buckeye Broadband, its cable system serving the Toledo and Sandusky, Ohio metropolitan areas, and Buckeye Telesystem, its facilities-based commercial telecommunications business serving commercial customers primarily in Northwest Ohio and Southeast Michigan. In addition, Block Communications publishes two daily metropolitan newspapers, the Pittsburgh Post-Gazette in Pittsburgh, Pennsylvania and The Blade in Toledo, Ohio, each of which is the dominant newspaper publication in its market. The company also owns and operates multiple television broadcast stations, among other businesses. For more information, visit www.blockcommunications.com.

About MaxxSouth Broadband

MaxxSouth Broadband’s service area for video, high-speed internet and digital phone stretches more than 200 miles and includes 20 counties and 61 communities in northern Mississippi and Alabama. Operating as a subsidiary of Block Communications Inc., MaxxSouth Broadband continues to expand and enhance its state-of-the-art broadband network in the communities it serves. For more information, visit www.MaxxSouth.com.

Last Mile Communications, LLC (LMC)

Last Mile Communications, LLC, a management partnering and consulting firm based in Newtown, CT, served as exclusive advisors to Block Communications, Inc. and MaxxSouth Broadband. For more information, visit www.LastMile.net.www.lastmile.net.

Milestone Communications, Inc.

Milestone Communications, Inc., a brokerage and consulting services company in Castle Pines, CO, was the Ripley Video Cable advisor for this transaction. For more information, visit www.milestonecomminc.com.

 

Media Contact:

Jodi L. Miehls

419-724-6257

jmiehls@toledoblade.com

 

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