To: Stock Watcher who wrote (8274 ) 5/8/1999 5:36:00 PM From: flickerful Read Replies (1) | Respond to of 52051
RCNC...they just keep expanding. i wouldn't be surprised if they started buying everything... [well, whatever LU, T, et al leave over.] RCN receives approval to build fiber optic network in California REDWOOD CITY, CA - RCN Corporation (Nasdaq: RCNC) has announced that it has obtained its fourth local approval to deploy its state-of-the-art fiber optic network in Northern California, and disclosed for the first time that it has successfully converted more than 61% of its federal Open Video System (OVS) authorizations to the all-important local licenses that allow the competitive provider of phone, cable and Internet services to build network and serve customers. RCN late Monday received approval to build network in Redwood City, Calif., a community of more than 73,000 people living in 28,000 homes. The approval, which follows recent licenses granted by the cities of San Francisco, South San Francisco and San Mateo, gives RCN local licenses covering approximately 425,000 homes in the California market with an average density of 290 homes per mile – nearly ten times the national average. Across all of its initial target markets, RCN has already signed local licenses accounting for nearly 4.3 million homes, more than 61% of the total number of homes for which it has secured federal Open Video System (OVS) authority. Local licenses, which are granted by local municipalities following prior federal and state certifications, are the final regulatory hurdle before RCN can build network in a given geographical area and begin offering customers its full suite of voice, video and data services. RCN has announced that it has received federal OVS certifications to serve more than 7 million homes in its target markets from Boston to Washington, and in Northern California. Even more significantly, the company has successfully converted those broad federal authorizations into local agreements with municipalities throughout its target markets at an astounding pace.