Investor News Release
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Mediacom Completes Acquisition of Triax
In making the announcement, Rocco B. Commisso, Mediacom’s founder, Chairman and CEO stated, “The Triax transaction doubles the size of our Company. We are excited with our plans to quickly bring to our new customers advanced broadband technologies and new services as well as our deep commitment to customer satisfaction. This underscores our objective to close the 'digital divide' that is developing across America between urban areas and the smaller communities we serve.”
“I would like to welcome Triax’s highly dedicated employees to the Mediacom family and thank them for their exemplary efforts during this transition. We are also appreciative of the local franchising authorities’ timely response in the transfer process and look forward to mutually beneficial relationships going forward.”
Mr. Commisso added, “I would like to also express my sincere thanks to Jim DeSorrento, Chairman and CEO, Jay Busch, President, and Chris O’Toole, Senior Vice President and CFO, of Triax for the opportunity to work with their first class company on this transaction. As well, this acquisition would not have happened without the full support of our Company’s investors and lenders, led by The Chase Manhattan Bank.”
Chase Securities Inc. served as financial advisor to Mediacom in connection with this transaction. Daniels & Associates, Donaldson, Lufkin & Jenrette, and Veronis Suhler & Associates Inc. served as advisors to Triax.
Mediacom, with headquarters in Middletown, N.Y., was founded by Mr. Commisso in 1995 principally to acquire and operate cable television systems and related communications services in selected non-metropolitan markets of the United States. As a result of the Triax acquisition and after giving effect to other recently announced industry transactions, Mediacom is among the top ten cable companies in the industry and its broadband network now passes more than one million homes and serves over 725,000 cable television and Internet customers in 21 states.