Mediacom shares dipped 30 cents to close at $5.30 after the MSO reported decidedly mixed 4Q results. Although MCCC lost just 3K basic subs—its lowest sequential decline in 2 years—revenue rose only 2% to $265mln and free cash flow was stagnant ($102.5mln). Thanks to more robust VOD & SVOD, Mediacom saw healthy gains in digisubs, adding 14K in 4Q. Looking ahead, capex for ’05 is expected to surpass last year’s $181.4mln, with expenditures hovering at $200mln-$210mln, as upgrades in MCCC’s hurricane-ravaged FL systems continue and the op gets set for digital phone service in 2Q. — Kaufman Bros reiterated a "buy" on Mediacom and reduced the target price from $8.50 to $7.50.

The Daily



Cherie Grzech is leaving Fox News to join NewsNation as vp of news, managing editor. Her appointment is effective July 19. Grzech currently serves as vp, Fox News. — Telecom tech company USTC Corp hired Tom McLaughlin to serve as president. McLaughlin most recently served as svp, sales at CommScope.

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