Broadband Briefs for 08/13/09
• Suddenlink’s gradual D3 rollout continues
By Brian Santo
Suddenlink said it now has deployed DOCSIS 3.0 capability in areas serving approximately 8 percent of its nearly 1.3 million customers, including in Georgetown, Lubbock and Midland, all in Texas.
The company began its deployment of DOCSIS 3.0 technology last year and is now providing broadband at 20 Mbps, with the capability to offer faster speeds once customer demand develops.
In the months ahead, Suddenlink executives said they expect to complete substantially more DOCSIS 3.0 deployments and 20 Mbps launches.
• Mediacom’s subsidiaries amend cash tender offers
By CED staff
Mediacom LLC and Mediacom Capital Corp., subsidiaries of Mediacom Communications, have amended their previously announced cash tender offers for their outstanding 9½ percent senior notes due 2013 and their outstanding 7? percent senior notes due 2011.
The companies have eliminated the maximum offer amount that applied to the tender offer for the 7? percent notes and are now offering to purchase any and all of the outstanding 9½ percent notes, and any and all of the outstanding 7? percent notes, that are validly tendered and not withdrawn and accepted for purchase in the tender offers.
The companies intend to fund the purchase of the notes pursuant to the amended tender offers with net proceeds from a new issuance of their senior notes in the principal amount of $350 million, and borrowings of $300 million under a new tranche of incremental facility term loans under an existing credit agreement of their operating subsidiaries. The companies also now intend, subject to the satisfaction or waiver of the conditions to the tender offers, to call for redemption of all notes that are not tendered and accepted for purchase in the tender offers prior to, or promptly following, completion of the tender offers.
• Verizon’s FiOS TV gets OK in N.Y. towns
By CED staff
Residents of the Onondaga County towns of DeWitt and Salina in New York will soon have access to Verizon’s FiOS TV service, thanks to newly approved agreements authorizing Verizon to offer its video service in the areas.
The approvals make 158 the total number of New York municipalities that have authorized Verizon to provide FiOS TV service.
The company is in the process of building and installing the necessary video equipment in local central offices in the central New York region and anticipates that FiOS TV service will be turned on for new customers in municipalities there later this year.