Cable One, Inc. (NYSE: CABO) ("Cable One" or the "Company") today announced that, on October 9, 2026, the United States District Court for the Southern District of New York entered a temporary restraining order (the "TRO") that temporarily prohibits Cable One from acquiring the 55% of Mega Broadband Investments Holdings LLC ("MBI") that it does not currently own.
The action was commenced by CoBank, ACB, a lender under the Company's existing credit agreement. The complaint alleges that the Company's payment of the MBI purchase price would constitute a constructive fraudulent transfer. CoBank is seeking, among other things, an injunction prohibiting the Company from closing the MBI acquisition.
The TRO was entered prior to any hearing or court appearance by Cable One. The Company strongly believes CoBank's claims are incorrect as a matter of law. Cable One intends to vigorously dispute these claims and protect its interests. However, the Company makes no assurances regarding the timing or outcome of the pending proceedings.
Under the terms of the MBI acquisition agreement Cable One is not obligated to close the transaction if and for so long as any legal restraint to closing is in effect.
As an update to last week's disclosure, Cable One has made substantial progress towards a series of financing transactions with GTCR LLC, certain of its existing lenders and a consortium of leading private lending institutions to address the majority of its forthcoming capital needs.
Read the full press release here.