TDS acquiring BendBroadband for $261M

Along with its Q1 results, TDS announces it's buying Bend, OR telecom/cable service provider BendBroadband for $261M in cash. The deal is expected to close in Q3.

BendBroadband's network covers 79K homes/businesses, and claims 36K video subs, 41K broadband subs, and 22K voice subs. With 2013 revenue totaling $70M, TDS is paying a little under 4x sales.

TDS is reiterating its 2014 operating revenue, adjusted income, and capex guidance for its TDS Telecom unit. However, subsidiary U.S. Cellular (USM), which also reported this morning, is cutting its 2014 capex guidance to $640M from $738M.

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