Rocco Commisso, the CEO and founder of cable giant Mediacom (MCCC), is buying out the company...

|About: Mediacom Communications Co... (MCCC)|By:, SA News Editor

Rocco Commisso, the CEO and founder of cable giant Mediacom (MCCC), is buying out the company with a bid of $8.75 per share - worth an estimated $600M. This is a 46% premium over Commisso's original $6 per share offer and a 64% premium over the closing price of Mediacom stock when he made the proposal in May. Mediacom is +23% to $8.48.