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February 19, 1997updated 05 Sep 2016 12:39pm

C-TEC PLANS 3-WAY SPLIT

By CBR Staff Writer

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.

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