Business Services Industry
Carolina Power & Light Mulls Strategy for Its Future Telecom Subsidiaries.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, June, 2000 by Rives, Karin Schill
Jun. 29--A few months from now, Carolina Power & Light will own a telecommunications subsidiary boasting $30 million-plus in annual revenue and 3,000 miles of fiber-optic lines stretching from southern Florida to Washington, D.C.
Not bad for a company that has dabbled in telecom but shunned the huge investments normally required to build a network of that size. But anyone wondering whether CP&L will soon add telephone service to its electricity and natural gas business will have to remain on hold.
The future of CP&L's telecom ambitions remains unclear as the company prepares to merge its operations with those of Florida Progress in St. Petersburg, Fla. Later this summer, CP&L executives will begin discussing the future of Progress Telecommunications...
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