A bold new broadband player emerges

0 Comments | USA TODAY, August, 2006 | by Leslie Cauley

NEW YORK -- RCN founder David McCourt is at it again.

On July 26 he applied to the Securities and Exchange Commission to create a publicly traded company, Granahan McCourt Acquisition, that will raise $125 million from investors to wage an assault on the USA's biggest broadband players. The venture will be his 11th in 25 years.

The application says Granahan McCourt plans to buy controlling stakes in companies that make or distribute media and communications services.

The SEC review process typically takes about a month.

The filing does not specify which markets McCourt plans to pursue. He declined to comment on his plans, citing his company's "quiet period," imposed by regulators on companies planning initial public offerings.

But McCourt is...