Denver -- FrontierVision Partners L.P. said it closed a
deal to buy State Cable TV Corp.'s Maine and New Hampshire cable assets, with 75,000
subscribers.
FrontierVision -- which surpasses 700,000 subscribers with
the acquisition -- reported previously that the acquisition price was $188.8 million, or a
little more than $2,500 per subscriber. The systems include ones in Augusta, Maine, and
Conway, N.H. Daniels & Associates represented FrontierVision.
FrontierVision chief financial officer Jack Koo said the
State Cable systems are a good fit with the company's existing Maine operations.
FrontierVision now has 170,000 subscribers in Maine, or about 60 percent of the
state's total, and the company's New England cluster is now more than 250,000
subscribers.
FrontierVision and Maine Internetworks Inc., an
Internet-service provider, recently announced their new cable-modem service in Camden and
Rockland, Maine. The companies said the service, called "Quicksilver," would
roll out in other FrontierVision cable territories in Maine later in 1998 and into 1999.
FrontierVision said Kathy Hounsell, currently State
Cable's vice president of customer service, will run its central Maine region.
