Mediacom Communications reported wider loss of $54 million in 4th...
Mediacom Communications reported wider loss of $54 million in 4th quarter despite big surge in revenue to $87.5 million. It blamed much of increased loss on $28.5 million noncash charge it took on its holdings of shares of SoftNet…
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Systems, 3rd party provider of high-speed data over cable lines that recently went out of business. MSO said its operating loss before depreciation, amortization and noncash stock charges also increased to $41 million from $28.4 million. Mediacom, which swung $2.215 billion deal with AT&T Broadband Tues. to more than double size of its cable operations (CD Feb 28 p2), said it ended 2000 with 779,000 basic cable subscribers, up 1.1% from year earlier, and signed up 12,000 digital cable and 4,400 cable-modem subscribers in 4th quarter to end year with 40,000 and 12,000, respectively. With capital budget of $180-$200 million in 2001, Mediacom said it expected to upgrade 80% of its homes passed to 2-way capability by year-end, offering data to 940,000 households and digital video to 550,000 basic subscribers. Besides expected new service gains from AT&T transaction, company projected that it would close year with 90,000-100,000 digital video and 45,000-50,000 cable modem customers.