Cable One, Inc.

Cable One, Inc. announced an expansion of its board of directors from eight to nine members with the election of Paul Keglevic, 72. Mr. Keglevic will also serve on a special committee tasked with evaluating strategic alternatives for the company. He will receive a monthly retainer of $40,000 and a per diem fee for additional work. Mr. Keglevic brings extensive experience, having previously held leadership roles at Energy Future Holdings Corp. and served as an audit partner at PricewaterhouseCoopers LLP and Arthur Andersen LLP.

Cable One reported a significant net loss of $1.16 billion for the second quarter of 2026, a substantial increase from the $438.0 million loss in the prior year. Revenues also saw a decline, falling to $348.9 million. The company's financial performance was heavily impacted by $597.7 million in asset impairments and a $349.8 million non-cash impairment to its MBI equity investment, alongside a $444.0 million fair value adjustment for the MBI option liability. Total assets and stockholders' equity experienced considerable reductions during the period.

Cable One reported a net loss of $1.16 billion for Q2 2026, a significant increase from $438.0 million in Q2 2025, primarily due to non-cash asset impairment charges totaling $597.7 million, a $262.3 million impairment of its MBI equity investment, and a $333.0 million fair value adjustment loss on the MBI Put Option. Total revenues decreased by 8.4% year-over-year to $348.9 million, driven by declines in residential data and video revenues. Adjusted EBITDA also fell by 14.6% to $173.5 million.

Cable One disclosed preliminary estimated financial and operating results for Q2 2026, projecting revenues between $346.0 million and $352.0 million and capital expenditures of $72.0 million to $76.0 million. The company expects net residential data subscriber losses of 16,000 to 18,000. Additionally, Cable One is considering not proceeding with the MBI Term Loan Exchange Offer, opting to leave MBI's senior secured term loans in place without new credit support after acquiring the remaining equity.

Cable One, Inc. announced the expiration and results of its MBI Term Loan Exchange Offer. As of June 23, 2026, MBI Lenders holding approximately 34.0% of all outstanding MBI Term Loans had submitted irrevocable acceptances. The company retains the right, at its sole discretion, not to complete the exchange offer.

Cable One, Inc. announced an interim participation update for its MBI Term Loan Exchange Offer. As of June 22, 2026, MBI Lenders holding approximately 33.4% of all outstanding MBI Term Loans have submitted irrevocable acceptances. The offer, which provides different compensation structures based on participation order, is set to expire on June 23, 2026.

Cable One, Inc. has initiated an offer to exchange outstanding senior secured term loans of Mega Broadband Investments Holdings LLC (MBI Term Loans). The offer allows MBI Lenders to exchange their existing loans for a combination of cash, new first lien "first out" term loans (New FLFO Term Loans), and new first lien "second out" term loans (New FLSO Term Loans) issued by Cable One. The specific consideration received will depend on the level and timing of lender participation, with early participants potentially receiving more cash and FLFO loans. The new Cable One term loans are expected to be secured by substantially all of the company's assets.

Sparklight, a subsidiary of Cable One, Inc., announced it has awarded over $125,000 in grants to 28 nonprofit organizations through its Charitable Giving Fund. These grants support initiatives in education, digital literacy, food insecurity, and community development across Sparklight's service areas. Since its inception in 2020, the fund has distributed more than $1.3 million to over 300 organizations, demonstrating a continued commitment to strengthening local communities.

Sparklight, a Cable One brand, has invested nearly $1 billion over the past three years to expand and enhance its fiber-rich network across its 24-state footprint. This investment has enabled Gigabit internet service across all markets and Multi-Gig speeds in over half its service areas, supporting long-term growth and economic development. The company also continues to advance its 10G technology roadmap and offers new services like Intelligent whole-home Wi-Fi and Sparklight Mobile.

Cable One, Inc. announced the consummation of the Clearwave Fiber Merger and the Point Rollover on May 4, 2026. As part of the transaction, Cable One contributed its equity interests in Clearwave Fiber LLC, a former joint venture, to Point Broadband Holdings, LLC in exchange for equity interests in Point Holdings. The company estimates the preliminary book value of its equity interests in Point Holdings to be approximately $120 million, though this figure is subject to finalization and review.