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RCN history
RCN company history timeline
In August 1994, McCourt relocated the business to Princeton, New Jersey, in an effort to attract what he called "younger, more aggressive" employees.
When the realignment was complete in October 1997, RCN lost little time in raising $575 million in junk bonds to start building its communications network.
Also in June 1998, RCN spent $13.4 million in cash and stock to add Springfield, Massachusetts-based JavaNet, Inc., which enjoyed success linking high schools and colleges to the Internet, boasting 30,000 dial-up and 400 dedicated line and Web hosting customers.
Also of significance in 1998, RCN won approval from the Federal Communications Commission to be an open-video system (OVS) operator in 109 Pennsylvania and 33 Northern California communities.
The prospects of RCN succeeding in its mission were given a boost in 1999 by the major investors it was able to attract.
The prospects of RCN succeeding in its mission were given a boost in 1999 by the major investors it was able to attract. Thus, even as its net loss increased to $355 million in 1999, on sales of $276 million, RCN was in good financial shape, possessing ample cash to carry on.
To rectify this situation, RCN bought a new billing and customer management system in 2001.
In 2004, RCN declared Chapter 11 Bankruptcy and on December 21, 2004, the court canceled all outstanding shares of RCN stock traded under the "RCNC" and "RCNCQ" symbols.
In the markets where RCN provides service, RCN was rated #1 for best viewing experience, faster start-up times and more reliable playback for all of 2014.
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RCN competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Star Communications | 1969 | $32.2M | 109 | - |
| Sentco Net | - | $10.0M | 20 | - |
| EnTouch Controls | 2008 | $2.3M | 41 | - |
| Knology | 1995 | $518.6M | 1,861 | 66 |
| Mediacom Communications | 1995 | $2.0B | 4,500 | 45 |
| Grande Communications ClearSource, Inc. | 1998 | $130.0M | 250 | - |
| Cavalier Telephone | 1998 | $718.3M | 2,000 | - |
| IDT | 1990 | $1.2B | 1,256 | 99 |
| Cablevision | 1973 | $6.5B | 13,656 | - |
| Union Wireless | 1914 | $900,000 | 25 | 3 |
RCN history FAQs
Zippia gives an in-depth look into the details of RCN, including salaries, political affiliations, employee data, and more, in order to inform job seekers about RCN. The employee data is based on information from people who have self-reported their past or current employments at RCN. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by RCN. The data presented on this page does not represent the view of RCN and its employees or that of Zippia.
RCN may also be known as or be related to R. C. N., Inc., RCN, RCN Corporation, RCN Telecom Services LLC and Rcn.