Thursday, August 17, 2006

RCN to Sell San Francisco HFC Network for $45 Million -- $2500 per Customer

RCN announced an agreement to sell its San Francisco assets to Astound Broadband for $45 million in cash, or approximately $2500 per customer. Astound Broadband is a cable, Internet and phone services company currently serving approximately 55,000 video, data and phone customers in Concord and Walnut Creek, California. RCN's San Francisco operations serve approximately 18,000 customers.

RCN said it plans to focus on the Northeast corridor and the Chicago region.

See also