Related Quotes
RCNC
42 3/8
-1 5/8
delayed 20 mins - disclaimer
Monday June 14, 9:57 am Eastern Time
Company Press Release
SOURCE: RCN Corporation
RCN Surpasses 11 Million OVS Homes With Approval To Serve Customers In Southern California
Federal Open Video System (OVS) Certification Gives RCN More Than 11 Million OVS Homes In East, West Coast Markets
PRINCETON, N.J., June 14 /PRNewswire/ -- RCN Corporation (Nasdaq: RCNC - news) announced today that it has been granted Open Video System (OVS) approval by the Federal Communications Commission to provide video services to customers in Southern California. The approval gives RCN, which has more OVS approvals than all other operational telecommunications carriers combined, broad authority to provide service to more than 11 million homes in its target markets from Boston to Washington and San Francisco to San Diego.
''This approval not only brings RCN a significant step closer to actually building network and serving customers in Southern California, it establishes a critical mass of OVS approvals far in excess of any current or potential competitors,'' said David C. McCourt, RCN Chairman and CEO. ''The RCN growth machine is clearly running on all cylinders -- from securing critical regulatory authorities, to raising the capital necessary to build and activate network, to signing and serving customers.''
RCN's application to the FCC to provide service in Southern California comprised approximately 4 million homes located in areas with average densities of more than 200 homes per mile. Specific municipalities covered under the application include portions of Los Angeles, Orange and San Bernardino counties, and the cities of Los Angeles, Beverly Hills, Pomona, Newport Beach, Irvine, Long Beach, Burbank, Glendale, Santa Ana, Ontario, Anaheim and San Bernardino.
With this approval, granted by the FCC late Friday, all of RCN's more than 11 million homes under federal OVS authority are located in the densest and most lucrative communications markets in the country. The company has also established a successful record of converting federal authority into the local licenses that actually allow RCN to deploy network and begin serving customers. RCN currently has negotiated and signed local licenses covering approximately 4.5 million homes in its initial target markets.
''RCN has established a compelling regulatory advantage over potential competitors in securing necessary FCC approvals,'' said Michael J. Mahoney, RCN's President and Chief Operating Officer. ''But even more significant has been our tremendous success in converting these broad federal approvals into the local licenses that actually allow RCN to build network and serve customers.''
About the RCN Network
RCN's True Local Network(TM) is a unique broadband fiber optic platform capable of offering a full suite of communications services -- including fully-featured voice, video and high-speed Internet -- to residential customers. The network employs SONET ring backbone architecture, and localized nodes built to ensure RCN's state-of-the-art fiber optics travel to within 900 feet of RCN customers, with fewer electronics and lower maintenance costs than existing local networks. RCN's East and West Coast local fiber optic networks target densely populated areas comprising nearly 40% of the U.S. residential communications market spread over just 6% of its geography.
About RCN Corporation
RCN Corporation (Nasdaq: RCNC - news) is the nation's first and largest single- source, facilities-based provider of bundled communications services to the residential market, and the nation's largest targeted Internet service provider (ISP), with all of its 500,000+ customers strategically clustered in the Boston to Washington corridor. The company is currently providing local and long distance phone, cable television and its rcn.com Internet services in several markets from Boston to Washington, D.C. RCN has expanded its target market to include California's San Francisco to San Diego corridor.
SOURCE: RCN Corporation
|
