More good regulatory news....
RCN Announces Regulatory Approvals for
Internet/Phone/Video Bundle Pass 6 Million Homes in 1998, Surpassing
All Other Competitors Combined
Company Moves Toward Total Market Coverage with New Building Access Strategy
PRINCETON, N.J., Jan. 19 /PRNewswire/ -- RCN Corporation (Nasdaq: RCNC - news) announced today that by year-end
1998 it had received open video systems (OVS) approvals to pass more than six million homes with its state-of-the-art fiber
optic network. With this record number of regulatory approvals, RCN has received more OVS grants than all other operational
telecommunications carriers combined.
In a related move, the company announced plans to expand its building access strategy to significantly broaden the number of
properties served within RCN's targeted construction area. To lead the expanded access sales team, RCN tapped former
Cable Michigan President and Chief Operating Officer Mark Haverkate. At Cable Michigan, Haverkate significantly increased
shareholder value by successfully building the popular cable franchise then selling it to Avalon Cable last November in a
transaction valued at $435 million. Haverkate's appointment to lead RCN's access sales effort represents an extension of his
existing responsibilities as Executive Vice President of the company.
''Gaining OVS approvals to pass more than six million homes represents just one more milestone in our successful plans to
expand our network and respond to growing consumer demand for RCN's services,'' said RCN Chairman and CEO David C.
McCourt. ''Finally the telecommunication experts are realizing what RCN knew all along; that the most valuable piece of
telecommunication infrastructure is the connection to the home. We have recruited a top talent to focus on getting more of these
connections.''
With his additional responsibilities, Haverkate will bring renewed focus and attention to RCN's existing access sales team --
which is responsible for negotiating the critical agreements with property owners and managers necessary to locate RCN
facilities in multiple dwelling unit (MDU) buildings throughout the company's service territory.
The goal of RCN's access sales team under Haverkate will be to obtain blanket construction approvals in the highest density
and most attractive residential areas of RCN markets from Boston to Washington, DC and San Francisco to San Diego in
California. The initial building access focus is on Manhattan, Queens, Boston, Washington, DC and the surrounding suburban
areas.
''If we stick to our business plan, but simply ramp up execution, we will be the dominant provider of phone, cable, and internet
from Boston to Washington and San Francisco to San Diego. RCN is unique in that we are the only telecommunications
company focusing on residential customers in areas that are 5 to 6 times more dense than the national average,'' said Haverkate.
RCN Corporation is the nation's first and largest single-source, facilities-based provider of communications services to the
residential market, the largest regional Internet service provider (ISP) in the Northeast and the nation's seventh largest ISP. The
company is currently providing local and long distance phone, cable television and Internet services in several markets from
Boston to Washington, DC. RCN has expanded its target market to include California's San Francisco to San Diego corridor.
Additional information about RCN's services may be found on the company's web site at www.rcn.com.
SOURCE: RCN Corporation |
