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By Rich Miller
Carrier Hotels Editor
Posted Feb 18, 2004
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http://www.carrierhotels.com/news/2004/Feb/18/rcn_to_file_chapter_11_print.html
RCN to File Chapter 11
By Rich Miller
Carrier Hotels Editor
Posted Feb 18, 2004
PRINCETON, N.J. - Struggling cable company RCN Corp. said it will file for bankruptcy as part of a strategy to attract new investors and stay in the business of bundling cable television, Internet and telephone service. "We anticipate filing Chapter 11 in order to consummate a deal," Barak Bar-Cohen, an RCN spokesman, said Tuesday. He couldn't say when the company might file. Managers of Princeton-based RCN hope to swap $1.7 billion in debt for a share in the company, Bar-Cohen said. Read the full story ...
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