Charter Communications Inc. (Nasdaq: CHTR) is buying Optimum West for about $1.63 billion in cash.

Optimum West, a subsidiary of Cablevision Systems Corp. (NYSE: CVC), manages cable systems in Colorado, Montana, Wyoming and Utah and serve more than 300,000 subscribers.

The purchase price is 8.9 times Charter’s estimate of Optimum West’s third quarter 2012 annualized first year adjusted Ebitda.

Charter is making the acquisition with a $1.5 billion bank financing through Charter Communications Operating LLC, cash on hand and its revolving credit facility. The deal should close by the third quarter of 2013.

The Stamford, Conn.-based buyer is a broadband communications company, providing television programming, Internet access and phone service. It plans to disclose its fourth quarter results on Feb. 22.

The announcement comes just days after Charter named Charles Fisher as the company’s new senior vice president of corporate finance. He was previously a senior managing director with Guggenheim Securities. Before that, he led the media investment banking practice at Nomura Securities.

Coincidentally, Cablevision tapped Guggenheim Securities as its financial adviser throughout the sale process. Citi and J.P. Morgan were Cablevisions’ co-lead financial advisers. Bank of America Merrill Lynch also provided financial advice, while Sullivan & Cromwell LLP served as legal counsel.

Credit Suisse and Goldman Sachs acted as Charter’s financial advisers, and also provided debt financing for the deal.

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