Stock Watcher's Thread / Pix of the Week (POW) Message Board

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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW)

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Dec 24 12:59 PM EST

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To: Stock Watcher who wrote (5283)	3/31/1999 10:57:00 AM
From: flickerful	Read Replies (3) of 52051

RCNC. RCN Gets West Coast Approval By Randy Barrett March 31, 1999 10:27 AM ET RCN announced it is accelerating its expansion into California and has received approvals from San Francisco to build a fiber network. The cable-Internet-telephone company already has won permission to expand into South San Francisco and San Mateo and plans to push southward into Silicon Valley. RCN will fund the activities with $1.25 billion in new capital raised from the sale of senior convertible preferred stock and a $1 billion bank loan from Chase Securities. "Now that the initial phases of RCN's business plan are fully funded, we are moving very rapidly to deploy network and begin serving customers on the West Coast," RCN Chief Executive Officer David McCourt said.

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