House-to-House in telecom war

Created on Wednesday, 05 August 1998

Veteran media and telecom investor, David C. McCourt, has his RCN executives travel in Hummers, not limos. Guerilla insurrection is their business as they sell phone, Internet and cable TV service to residential customers of the big guys. That's right: individual customers. While others target the business crowd, RCN fights house to house. McCourt spun RCN Corp. out of C-Tec Corp. in 1997. C-Tec Corp. split itself last September into three publicly traded companies. The spin-offs are RCN Corp., Cable Michigan Inc., consisting of C-Tec's Michigan cable operations, and Commonwealth Telephone Enterprises Inc. Spinning into three companies helped former C-Tec shareholders, whose stock was worth about three times its price as of last October. RCN had a 2-for-1 stock split in April


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