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WOW! considers sale of business, other strategies, report says

Regional cable and broadband Internet provider WideOpenWest (WOW!) is considering a sale of its business, according to a report published on Thursday.

Financial news publication Bloomberg said WOW! has hired a financial advisor to explore different options for the company, including the solicitation of interest from potential buyers.

A spokesperson for WOW! declined to comment when asked by other media outlets for further insight on its strategy.

The Bloomberg report sent shares of the publicly-traded company up more than 13 percent. Its stock price settled around $20 a share by the end of the trading day on Thursday.

In February, a media analyst specifically cited WOW! as a potential candidate for acquisition. The note came amid a trend of smaller cable operators being gobbled up by bigger companies and investment firms.

WOW! provides cable television and broadband Internet service to parts of Alabama, Florida, Georgia, Michigan, Tennessee and South Carolina.