Comcast To Acquire Patriot Media

Comcast (Nasdaq: CMCSA) has agreed to acquire Patriot Media & Communications, a Greenwich, Conn.-based owner and operator of cable systems in central New Jersey. The deal is valued at approximately $483 million in cash, and is expected to close in the third quarter. Patriot Media is owned by Spectrum Equity Investors, Spire Capital and veteran cable executive Steve Simmons.