SusCom, Cebridge Add Subs3/14/2004 7:00 PM Eastern
Two growing MSOs — one established, the other emerging — made deals to expand their system rosters last week.
Susquehanna Communications said it closed on the purchase of the Carmel, N.Y., cable system from RCN Corp. for $120 million.
The system has about 30,000 customers, setting the purchase price at about $4,000 per customer.
SusCom has said it likes the Putnam County, N.Y., system’s demographics and looks forward to getting into the voice over cable business for the first time. Privately owned SusCom of York, Pa., had more than 200,000 customers before the Carmel deal.
Elsewhere, Cebridge Connections — the St. Louis-based MSO controlled by Cequel III, Jerry Kent’s investment firm — agreed to buy cable systems from Tele-Media Corp. and USA Media Group with a combined 60,000 subscribers.
Terms weren’t disclosed. Denver-based cable investment banker Daniels & Associates represented USA Media and Tele-Media.
Both acquisitions are expected to close by mid-year, elevating Cebridge to 495,000 subscribers.