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Court order temporarily blocks Cable One's Mega Broadband buyout

A federal court in New York has issued a temporary restraining order that bars Cable One from acquiring the 55% of Mega Broadband Investments Holdings it does not already own. The order was entered on October 9. The suit was brought by CoBank, a lender under Cable One's existing credit agreement.

Why it matters: A lender suing to stop a borrower's acquisition is unusual and leaves the timing of Cable One's consolidation of MBI uncertain.

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