Why WideOpenWest Shares Spiked Today

WideOpenWest WOW shares are trading higher after the company announced it will divest five service areas in transactions worth $1.8 billion.

The company earlier announced it has entered into two separate definitive agreements to sell its Cleveland and Columbus service areas and its Chicago, Evansville, Indiana, and Anne Arundel, Maryland service areas. The company said the divestiture of these assets will enable it to reduce debt.

WideOpenWest, Inc. provides high speed data, cable television, and digital telephony services to residential and business services customers in the United States.

At the time of publication, shares of WideOpenWest were trading 10.08% higher at $20.09. The stock has a 52-week low of $4.72 and a 52-week high of $21.34.