RCN Corporation and ABRY Partners have announced their entry into a definitive agreement for an investment fund managed by ABRY to acquire RCN for total consideration of approximately $1.2 billion, including the assumption of debt.

The transaction is expected to be completed in the second half of 2010, subject to receipt of stockholder approval, regulatory approvals, including the receipt of required consents and approvals of the Federal Communications Commission, as well as satisfaction of other customary closing conditions. The transaction is not subject to any financing condition.

Under the terms of the merger agreement, RCN may solicit proposals from third parties for 40 days through April 14, 2010. There can be no assurances that this process will result in an alternative transaction.

The Daily


Charter Asks for CBRS Interference Protections

The quiet period on the FCC ’s CBRS auction is up, and Charter was one winning bidder that commended the Commission for its efforts to encourage efficient use of the mid-band

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