RCN: we're in D.C. for good.(RCN Corp.)
Multichannel News, October, 2004 by Farrell, Mike
RCN Corp., still winding through a prepackaged Chapter 11 bankruptcy, said last Tuesday it will acquire the remaining interest it doesn't already own in its Washington, D.C., cable operations for about $29 million. The overbuilder is buying the 50% stake from partner Pepco Communications, a wholly owned subsidiary of Potomac Electric Power Co.
RCN and Pepco originally teamed up on the D.C.-area operations in 1999 under a partnership called Starpower Communications LLC. Starpower has about 48,000 subscribers and passes about 180,000 marketable homes in the region. LOCAL MARKETS RCN said it exercised a right of first refusal for the Washington operations, opting to match a third-party offer for the systems. RCN did not identify the third...
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