Mediacom Widening Wideband Reach
Mediacom, which added 10,000 high-speed Internet subs to extend its total to 814,000, is on schedule to extend D3 to another 25 percent of the MSO's network, noted company EVP of operations John Pascarelli. If that goes to plan, Mediacom will be wideband-ready in 50 percent of the operator's footprint, or about 1.4 million homes, by year's end, he said.
On the video front, Mediacom couldn't avoid losing 18,000 basic video subs caused by typical second-quarter "seasonality" as students and vacationers turned off service. Mediacom ended the quarter with about 1.2 million basic video subs.
However, it is beefing up its digital product by adding up to 75 HD channels and a 7,000-title video-on-demand library. It's also launched a multi-room DVR product in all systems. (See Mediacom Rolls Whole-Home DVR.)
As for the pitch to go private for $6 per share, Commisso would only reiterate that the company has appointed a special committee of independent directors to evaluate the proposal, and that any new disclosures would be revealed in future Securities and Exchange Commission (SEC) filings. (See Mediacom Posts Q2 and Mediacom Hires Privacy Advisors.)
Mediacom shares closed down 5 cents, to $7.20 each, on Friday.
— Jeff Baumgartner, Site Editor, Light Reading Cable