{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-24-133726","form_type":"8-K","ticker":null,"cik":"0000716133","company_name":"CINCINNATI BELL INC","filed_at":"2024-12-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:10.890413+00:00","generated_at":"2026-05-29T07:46:12.690731+00:00","sec_items":["2.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Cincinnati Bell completes sale of CBTS IT services business for $670M cash","bullets":["Closed December 2, 2024; CBTS sold for $670M cash, subject to working capital adjustments.","Net cash proceeds estimated at $662.5M after ~$7.5M in transaction and closing costs.","Estimated pre-tax gain on sale of $81.8M; after-tax gain of $62.1M.","Pro forma removes CBTS revenue: $717.2M from FY2023, reducing continuing ops revenue to $1.1B.","Company retains legacy communications business; TSA with buyer for up to 7 months."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-24-133726","json":"https://secwatch.observer/filing/0000950170-24-133726.json","markdown":"https://secwatch.observer/filing/0000950170-24-133726.md","text":"https://secwatch.observer/filing/0000950170-24-133726.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/716133/000095017024133726/0000950170-24-133726-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/716133/000095017024133726/ck0000716133-20241202.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-29T07:46:12.690731+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ace677a9ea9d9a63a6823d8ed66a3015378af078","claim":"CINCINNATI BELL INC completed a disposition involving CBTS Borrower, LLC for $670,000,000 in cash (closed 2024-12-02).","evidence_excerpt":"On December 2, 2024 (the “Closing Date”), Cincinnati Bell Inc., an Ohio corporation (the “Company”), completed the previously announced sale of all of the issued and outstanding equity interests of CBTS LLC and CBTS Extended Territories LLC, which directly or indirectly hold all of the issued and outstanding equity interests in the subsidiaries of the Company that operate the Company’s IT services business and operations supporting enterprise business customers with technology solutions and services including application modernization, cybersecurity, IT consulting, cloud, unified communications, and infrastructure solutions, to CBTS Borrower, LLC, a Delaware limited liability company (“Purchaser”), pursuant to the Equity Purchase Agreement, dated February 2, 2024 (the “Purchase Agreement”), by and among the Company, Purchaser and, solely for certain purposes set forth in the Purchase Agreement, CBTS LLC, for $670,000,000 in cash, subject to certain adjustments set forth in the Purchase","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/716133/000095017024133726/0000950170-24-133726-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"CBTS Borrower, LLC"},{"label":"Consideration","value":"$670,000,000 in cash"},{"label":"Closing","value":"2024-12-02"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}