Wall St Journal: Hargray Communications for Sale
Posted by Jesse Ward on Thursday, July 8, 2010 · 
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According to an article published today in the Wall Street Journal, Hargray Communications is up for sale in an auction that could fetch roughly $400 million.
Hargray services approximately 30,000 rural subscribers in southeastern South Carolina and Northeastern Georgia, and is currently owned by buyout firm Quadrangle Group LLC.
Hargray was established in 1947 as a family-owned and operated landline business then called Harcan Telephone in Hardeeville, South Carolina. Hargray’s cable television service was established in 1980, and wireless mobile phone service in the late 1980s. Hargray added dial-up Internet in 1994, followed by high-speed Internet in 2000.
In 2007, Hargray was acquired by Quadrangle Capital Partners, but the telco continues to maintain and foster a local presence and community involvement in the Lowcountry region.
The telco’s traditional landline and fiber-fed cable network could be attractive to another cable or independent telco that wants to enhance its holdings.
For more, see this Wall Street Journal article, the source of the news.
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