C-Tec Corp, Princeton, New Jersey plans to split into three publicly traded companies – RCN Corp, C-Tec Corp and and C-Tec Cable Systems of Michigan Inc. RCN will consist of RCN Telecom Services, which provides video and telecommunications services in Boston and New York; the company’s New York, New Jersey and Pennsylvania cable television operations; and the investment in Mexican company Megacable SA de CV. C-Tec Corp, which will in future be tagged CTCo, will consist of the company’s local telephone operations and related engineering business. And C-Tec Cable Systems of Michigan Inc will consist of the company’s cable television operations in Michigan, including the 62% interest in Mercom Inc; the restructuring will enable the company to raise capital for the future expansion of RCN Telecom.
