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Patriot buys RCN's Jersey system - Broadcasting & Cable

Patriot buys RCN's Jersey system

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Patriot Media and Communications, run by cable veteran Steve Simmons and
Spectrum Equity Investors, is buying a central New Jersey system from RCN
Corp.

Patriot is ponying up $245 million to buy the 80,000-subscriber system, which
has customers in Somerset, Morris, Mercer and Hunterdon counties.

RCN has already upgraded about one-quarter of the system and, as part of the
deal, Patriot has agreed to finish the rebuild.

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