Kenneth, its being built,this team is amazing. They have a local,and long distance telephone license,lining up suburbs of Chicago,like Skokie,and cable franchises in ajoining areas to Chicago. This is the company to watch. They chose to bo with twisted pair,and NT voice switching equipment.
I remember they had a problem announcing their plans during a quiet period in February. They held a press conference,they were so excited,and could not say anything. Well they got the $250 million dollar funding arrangement. It is looking pretty good for them. Hey if they go public(everyone does),why not jump on this company? They have the best telecom management around,sound financing,licenses to provide both video and telephony. Read the press releases,they are competing with both Ameritech,and TCI,and going to kick them both out of Chicago. The old Chicago Mayor Daley Democratic convention style whooping. Well maybe Chicago and Tacoma won't renew TCI licenses.
Observed Robert J. Currey, President and COO, "Since the completion of our $250 million high yield and preferred securities offering in mid-February, our team has focused its attention on executing our marketing and sales strategy. We are encouraged to have the sales pipeline filling with significant bulk and ROE contracts increasing the video and data connections to our Network. As of April 30, 1998 we have signed bulk contracts with 26 multiple dwelling units (MDUs), representing approximately 5,000 bulk subscribers, and ROE contracts with 104 MDUs representing a sales target of over 5,000 homes passed. Of these 130 MDUs, 107 are yet to be connected to our network and actively marketed with our full array of services. We expect the sales pipeline to continue to expand as network construction enables the activation of an increasing number of MDUs during 1998."
Currey also noted, "The installation of our state-of-the art telephone switching system is on schedule. We have received regulatory approval from the State of Illinois to provide local exchange service, completed an interconnection agreement with the incumbent local exchange carrier and selected a long distance wholesale carrier. We plan to launch local and long distance telephone service to our growing customer base by the third quarter of 1998. At that time 21st Century will be able to offer bundled video, data and voice services - each component representing an outstanding value to our customers and together providing an unprecedented bundle of communications services to our target residential and commercial audience."
In April of this year, 21st Century was awarded a franchise to provide cable service to the Village of Skokie, Illinois. Skokie is a Chicago suburb located just northwest of the Company's existing Chicago Area One franchise. Glenn W. Milligan, Chairman and CEO, commented, "We are pleased to have the opportunity to provide our video, data and voice services to the residential and commercial customers in Skokie. These additional 22,000 homes can be served efficiently and economically by the extension of our Chicago Area One DRS Network."
21st Century is a facilities-based competitive communications service provider, franchised in the Chicago Area One and Skokie, Illinois communities. Its leading edge DRS fiber optic network, designed to provide high capacity data and telephone transport and distribution, establishes last mile connectivity which enables 21st Century to be the only ubiquitous provider of bundled video, data and voice services to residential and commercial consumers in its franchised service territories.
21stcentury.com
Frank and Ray surf this site,look at the press releases.Notice the war chest they have,over $260 million dollars in cash,WOW!
Hiram
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