Simmons wraps RCN buy, taps talent. (Finance).(Steve Simmons acquires some 80,000 cable subscribers from RCN Corp.)
Multichannel News, February, 2003 by Farrell, Mike
Former Simmons Communications founder Steve Simmons joined the roster of former cable executives inching back into the business last week, when he closed his $245 million acquisition of about 80,000 subscribers from RCN Corp. Simmons announced the deal to buy the former RCN systems, located in Princeton, N.J., back in September.
In an interview last week he said his company, Patriot Media & Communications, is gearing up to provide high-speed data, video-on-demand and high definition television service by next year. The purchase will end up costing $289 million, including about $44 million for upgrades. Not including upgrade expenses, the deal works out to about $3,060 per subscriber, or 11 times system cash flow. Simmons said about 25 per-cent...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
- Using object-oriented analysis and design over traditional structured analysis and design
Presented by American Express