RCN gets $245 million for 'non-strategic' New Jersey cable systems
Spectrum Equity Investors and cable entrepreneur Steve Simmons have shelled out $245 million to RCN for “non-strategic” cable systems serving about 80,000 central New Jersey customers.
Industry News
Blogs
Briefing Room
advertisement
RCN inherited the systems, which are among the few systems RCN did not build itself, when it spun out from the former C-TEC in 1997. While close to both the Philadelphia and New York City markets, the systems are outside a major metropolitan market, making them “non-strategic” to the company’s interests, RCN said. RCN, ironically, is based in Princeton, in central New Jersey.
The new operation, to be known as Patriot Media & Communications, will be owned by Simmons, who will serve as chairman and CEO. It has committed to continue the $4 million rebuild that RCN undertook for systems in Franklin and Montgomery Townships, the two companies said.
-- Jim Barthold, senior editor
Want to use this article? Click here for options!
© 2012 Penton Media Inc.
advertisement
Learning Library
Webcasts
Using Real-Time Offers, Alerts and Interactions To Improve the Mobile Broadband Experience
In this Webinar you will learn how to create a real-time relationship with your customers, how to proactively improve the customer experience, and how to successfully target and cross-sell services to boost incremental revenue.
- Megabytes to Megabucks, Bandwidth to Business Models: How 4G Is Changing Everything
- How to Unplug Your Redundant Telco Apps To Save Money and Improve Efficiency
- When IaaS Isn't Enough: Service Provider Business Models to Drive Growth and Build Margin
- How to Transform Your Aging Telco Voice Network to Drive New Profits and Revenue
- Creative Licensing Approaches for Telcos & Their Network Equipment Vendors
- Smart Home Opportunity: Balancing Customer Data & Privacy
White Papers
The Role of Diameter in All-IP, Service-Oriented Networks
This paper discusses the rise of Diameter and benefits of Diameter Protocol.
- Conducting The Orchestration – Order Management at the Speed of Business
- Toward a Converged Network Edge
- Beyond Spam – Email Security in the Age of Blended Threats
- 6 Important Steps to Evaluating a Web Filtering Solution
- The Expertise to Protect You from Botnet and DDoS Attacks
- Seeing is Believing – Bridging the Order Visibility Gap
Featured Content
A time and money saving approach to fiber deployment
Service providers are under tremendous pressure to turn up new services faster then before and, at the same time,
to do it at less expense - and intra-office fiber is one of the biggest challenges in terms of both cost and service
turn-up.
Stay Connected
of interest
The Latest
News
From the Blog
Briefingroom
Join the Discussion
advertisement
Resources
Get more out of Connected Planet by visiting our related resources below:
Connected Planet highlights the next generation of service providers, as well as how their customers use services in new ways.
Subscribe Now