Billings-based Optimum West, formerly Bresnan Communications, has been sold for the second time in less than three years.
New York-based Cablevision Systems Corp. announced Thursday that it is selling the cable system that serves customers in Montana, Wyoming, Utah and Colorado to Charter Communications.
Charter will pay $1.625 billion in cash for the Rocky Mountain cable system, which has roughly 366,000 customers.
"With this transaction, Charter will acquire some of the fastest growing cable assets in the United States," said Charter's chief executive, Tom Rutledge. "Optimum West is an ideal fit for Charter and we anticipate an efficient integration process."
In 2010, Cablevision, based in Long Island, N.Y., agreed to pay $1.37 billion for Bresnan and then changed the name to Optimum.
The actual sale is between subsidiaries of the telecommunication giants: Charter Communications Operating LLC is buying Cablevision's Bresnan Broadband Holdings LLC.
The deal is expected to close between July and September.