Wow buying cable company Knology for $750.5 million

ENGLEWOOD, Colo. (AP) — Wow Internet, Cable & Phone is buying cable TV and Internet provider Knology Inc. for $750.5 million, partly to broaden its geographic reach.

Knology shares gained $1.27, or 7 percent, to $19.32 in morning trading.

Wow, which is owned by private equity firm Avista Capital Partners, offers cable TV, Internet and telephone services in Michigan, Illinois, Ohio and Indiana. Knology serves the Southeastern and Midwest U.S.

In February Knology shares spiked after a report said the company was shopping itself to potential buyers.