Being a cable overbuilder is a tough business--unless of course you're a deep-pocketed telco or perhaps a private equity firm--so it was little wonder last week when RCN Cable finally conceded it cost too much and sold its business to Boston private equity firm Abry Partners.
RCN CEO Peter Aquino called the task of overbuilding a "perfect storm" that now involves "a three-way fight with two big gorillas"--cable and telcos. He said the acquisition won't have an immediate impact on customers but the money could help RCN's business grow faster than it did as a publicly traded company because Abry can invest more money.
Abry, for its part, has continued to be quiet about its plans for the overbuilder which has 430,000 residential and small-business customers in major markets that include Boston, Washington, D.C., New York City, Chicago and Philadelphia.
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