Business Services Industry
The Miami Herald Business Briefs Column.
Knight Ridder/Tribune Business News, May, 1999 by The Miami Herald
Knight Ridder/Tribune Business News
May 8 -- FLORIDA EAST COAST JUMPS INTO TELECOM BUSINESS: Florida East Coast Industries, the St. Augustine company that owns railroads and real estate, said Friday it plans to enter the telecommunications business.
Florida East Coast has formed an Orlando subsidiary, FEC Telecom, to operate a fiber-optic network that will reach 13 of Florida's 15 largest cities.
FEC shares rose $1.121-1/2 to close at $33.87-1/2 in Friday trading.
Florida East Coast, which operates three major subsidiaries, including the Florida East Coast Railway Company, owns the right-of-way near the railroad tracks, and controls 12,600 miles of "dark fiber" fiber-optic cable and fiber conduit assets. Together, they comprise a...
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