Over 7 million cable and fiber locations

Astound is already the product of industry consolidation via a series of private equity deals that combined Wave Broadband, RCN, and Grande Communications. A research note from the New Street analyst firm said GFiber offers service at 2.8 million locations in 15 states, while Astound’s service area has 4.45 million locations in 12 states and the District of Columbia. Most of Astound’s network is cable broadband, but it has 892,014 fiber locations and 44,548 copper locations.

“Put together, the two companies pass ~7.1 [million] locations in 26 states,” the research note said. “The two companies overlap in only three counties in Texas (109k locations). Texas and Illinois will have the largest footprint for the combined entity. Cable and Fiber will cover an almost equal share of locations for the combined company.”

The combined GFiber/Astound company will face competition in most of its territory from at least one cable or fiber/copper provider. That includes AT&T at 53 percent of locations, Comcast at 46 percent of locations, Charter at 43 percent of locations, Verizon at 22 percent of locations, and Lumen (CenturyLink) at 11 percent.

New Street said there are unanswered questions, such as whether the combined company will continue to expand into areas served by existing cable and fiber operators, and whether it will upgrade its own cable footprint with fiber.

GFiber offers service in Texas, North Carolina, Missouri, Utah, Kansas, Tennessee, Alabama, Georgia, Iowa, California, Arizona, Nebraska, Idaho, Colorado, and South Carolina. Astound is in Illinois, Texas, New York, California, Washington, Massachusetts, Pennsylvania, the District of Columbia, Oregon, Maryland, Indiana, Virginia, and New Jersey.

Texas, North Carolina, Missouri, Utah, and Kansas account for about 78 percent of GFiber locations, according to New Street’s data. Illinois, Texas, New York, California, and Washington together account for about 72 percent of Astound’s locations.