(MENAFN- Send2Press Newswire) AUSTIN, Texas, Jan. 23, 2025 (SEND2PRESS NEWSWIRE) - Concerned shareholders of WOW today issued the following letter to the management of WOW. More details can be found on its website (WowShareholders ):
To the Management and Board of Directors of WideOpenWest, Inc. (WOW),
We, as concerned stakeholders and shareholders of WideOpenWest, are writing to formally request an update regarding the unsolicited non-binding preliminary proposal submitted on May 3, 2024, by DigitalBridge Investments, LLC and Crestview Partners. This proposal, offering $4.80 per share in cash for all outstanding shares not currently owned by Crestview, has significant implications for the future of WOW! and its shareholders.
Image caption: Concerned Shareholders of WOW.
It has been over eight months since this proposal was announced, during which time your board established a special committee to evaluate the offer.
Despite this, there has been no substantive communication or transparency regarding the progress or outcome of these deliberations.
Given the importance of this matter to shareholders and the broader market, we believe it is imperative for WOW to provide clarity on the following points:
Status of the Special Committee's Evaluation: What is the current status of the special committee's review of the proposal? Have any decisions or recommendations been made?
Fairness and Valuation : How does the board assess the $4.80 per share offer in light of WOW's intrinsic value and recent financial performance? Notably, some shareholders have publicly criticized this valuation as inadequate, suggesting a fair value above $10 per share.
Strategic Alternatives : Has the board considered other strategic options beyond accepting or rejecting this proposal? For instance, are there plans to explore alternative buyers or partnerships that could maximize shareholder value?
Transparency and Shareholder Engagement : Why has there been limited communication with shareholders regarding this critical proposal? What steps will WOW take to ensure greater transparency moving forward?
As shareholders, we have a vested interest in ensuring that any decision regarding this proposal is made transparently and in alignment with maximizing shareholder value. The lack of updates creates uncertainty and undermines confidence in WOW's leadership.
We urge you to address these concerns promptly by providing a comprehensive update on the status of this proposal and its evaluation.
We also request that you outline a clear timeline for further disclosures to ensure that all stakeholders are kept informed.
If we do not receive a satisfactory response within a reasonable timeframe, we will have no choice but to escalate our efforts by initiating a proxy campaign aimed at replacing members of the Board of Directors who fail to act in the best interests of shareholders.
This step is not taken lightly but reflects our commitment to ensuring accountability and protecting shareholder value.
Thank you for your attention to this matter.
We look forward to your prompt response.
Sara Konstantine
On behalf of Concerned Shareholders of WOW
*This letter reflects our collective commitment to transparency, accountability, and the best interests of all WOW stakeholders*
More information:
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MEDIA ONLY CONTACT:
(not for print or online)
Sara Konstantine
Chair of Special Committee
of Concerned Shareholders of WOW
...
News Source: Concerned Shareholders of WOW
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