Mediacom said it will spend $1 billion over the next three years to upgrade and expand its network and expand its Wi-Fi footprint, among other initiatives.
"We decided to accelerate our capital spending over the next three years because our company wants to be the engine that drives economic growth and development for businesses and residents in the communities we serve," said Mediacom CEO Rocco Commisso.
The topline to the investment is Project Gigabit, the MSO's version of the industry-wide 1 Gbps service push. Mediacom is looking to provide 3 million homes across 22 states with access. The company said the first wave of Project Gigabit-enabled households will come online in the fourth quarter.
The MSO is also looking to expand the capacity of its business services network, as well as to extend its "deep-fiber residential video, Internet and phone network to pass an additional 50,000 homes.
Mediacom is tying announcement of the investment to its 20th anniversary.
"The $4.2 billion in private capital invested by Mediacom over the last 20 years has allowed us to, among other things, create an all-digital video network, launch a variety of advanced broadband services and deploy nearly 600,000 strand miles of fiber," Commisso added.
For more:
- read this Mediacom press release
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