Cablevision throws in the towel, finally!
RCN Corporation (Nasdaq: RCNC) today announced that Cablevision has formally withdrawn its lawsuit aimed at delaying deployment of RCN's Megaband(TM) Network in the City of Boston. Cablevision's suit, and attempt to secure a restraining order blocking RCN's construction in the city, had already been rejected by both the District Court and the U.S. Court of Appeals for the First Circuit.
Late on Friday, Cablevision dismissed the lawsuit against RCN that it
had originally filed late last year, seeking to block RCN's network
deployment on grounds that failed to find favor with the District Court earlier this year and, most recently, with the Court of Appeals in August.
Even before the ruling, RCN was moving aggressively to accelerate its
network deployment in Boston. The company in July signed a new
long-term agreement to provide phone, cable and high-speed Internet
services to Boston residents, and announced plans to dramatically
accelerate its network deployment effort within the city. By the end of this year, RCN's fiber optic Megaband(TM) Network will pass
approximately 20% of Boston's nearly 300,000 homes.
RCN also has aggressive expansion plans through the entire Boston
region. The company will eventually build out to approximately 65
cities and towns in Massachusetts, and is currently designing and
building network in nearly two-dozen Boston-area communities. RCN is
already providing service in areas of Boston and the surrounding
communities of Somerville, Arlington, Newton, Waltham and Watertown.
RCN's operations within the city of Boston itself are extremely
important to the company's strategy in the region, since the majority
of the communities it intends to serve in Massachusetts are in close
proximity to the city.
About the RCN Network RCN's Megaband(TM) Network 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) 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
customers strategically clustered in the Boston to Washington and San
Francisco to San Diego corridors. The company is currently providing
local and long distance phone, cable television and its rcn.com
Internet services to the densest telecommunications markets in the
country, from Boston to Washington, D.C. in the East and San Francisco
to San Diego in the West. |
