RCN also offers local and long-distance telephone service and cable TV in the Northeast over its advanced fiber optic network. Under the terms of the deal, RCN will purchase Erol's, in Springfield, Va., for about $35 million in cash and $48.5 million in stock. RCN will also purchase Boston-based UltraNet for $7.8 million in cash and $19.2 million in stock. The acquisitions are subject to government approval.
Copyright January 1998, Crain Communications Inc.