Local

Knology buying Sunflower Broadband in Lawrence, Kansas

Cable television and broadband Internet provider Knology is expanding into Kansas with the purchase of a Lawrence company.

Terms of the deal between West Point, Ga.-based Knology and Sunflower Broadband, a privately owned company that dates to 1970 and now has 200 employees, were not disclosed.

But Knology Chairman and Chief Executive Officer Rodger Johnson did say he expects Sunflower to generate about $51 million in annual revenue.

The two parties said the acquisition should be finalized before the end of this year.

Knology, which also offers local and long distance telephone service, is already in a dozen markets, including Columbus. Its other locations are Dothan, Ala., Huntsville, Ala., Montgomery, Ala., Valley, Ala., Panama City, Fla., Pinellas, Fla., Augusta, Ga., Charleston, S.C., Rapid City, S.D., Sioux Falls, S.D., and Knoxville, Tenn.

Knology on Wednesday reported a second-quarter profit of $7.6 million, or 21 cents per share, on total revenue of $112.9 million. That compares to a profit of $1.3 million, or 4 cents per share, on revenue of $107.9 million during the same April-June period in 2009.

Shares of Knology (Ticker: KNOL) rose 14 cents, or 1.1 percent, to $12.91 in trading Thursday on the New York Stock Exchange.

  Comments