Same old story: Mediacom (Nasdaq: MCCC) profits up, basic subs down

As if following a script written for the cable industry, Mediacom Communications (Nasdaq: MCCC) reported preliminary unaudited fourth quarter revenues that were up 1.9 percent over a year ago, climbing to $378.9 million, and the loss of 10,000 basic cable subscribers.

The loss was balanced by the addition of 14,000 digital subs, 11,000 high-speed data customers and 8,000 phone customers, the MSO reported, bringing a plus 23,000 revenue generating units into the fold.

In the midst of a bid by Founder-Chairman-CEO Rocco Commisso to privatize the company, Mediacom noted that it was releasing the preliminary results "to provide its stockholders with additional financial information" prior to a special March 4 meeting where they will vote on Commisso's bid.

For more:
- see this news release

Related articles:
Proxy advisors tell Mediacom shareholders to sell out
Missouri AG tells Mediacom to reimburse subscribers who suffer blackouts

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