New York, July 09, 2014 -- Moody's says that on July 1, 2014, Block Communications, Inc. ("Block") agreed to acquire certain assets of MetroCast, a broadband cable company providing video, high-speed internet and telephony services to communities, primarily in Mississippi, for roughly $200 million. On June 26, 2014, Block agreed to acquire Line Systems Inc. ("LSI"), an integrated business communications provider in the mid-Atlantic region for approximately $47.5 million. The acquisitions are expected to be funded primarily with new debt. There is no immediate impact to Block's ratings nor the stable outlook as Moody's expects overall financial metrics and operating performance to remain within the Ba3 Corporate Family Rating. Both acquisitions are expected to close in Q4 2014 and are subject to customary conditions, including FCC approval and Hart-Scott-Rodino clearance.

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