FCC Wireline Bureau Approves Radiate (TPG Capital) Takeover of RCN, Grande
The FCC Wireline Bureau cleared the purchase of RCN Telecom Service and Grande Communications Networks by Radiate Holdings. No commenter opposed the grant of a Sept. 1 application to transfer licenses under Section 214 of the Communications Act from Yankee…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
Cable Partners and Grande Investment to Radiate (see 1609020006), said an FCC public notice Wednesday in docket 16-276 noting the bureau approval. The PN said the approval was "without prejudice" to FCC action on "other related, pending applications." The Media, Wireless and International bureaus have yet to act on those applications, an agency spokesman told us. Radiate is a holding company controlled by principals of TPG Capital, with minority partners in Radiate including Alphabet-owned Google Capital, an affiliate of Dragoneer Investment Group and some executives from Patriot Media Consulting. Patriot manages RCN and Grande Communications for Yankee and Grande Investment, respectively, and will do the same for TPG after the close, said a filing (available here). RCN has roughly 474,000 subscribers in Illinois, Massachusetts, Maryland, New York, Pennsylvania, Virginia and Washington, D.C., and Grande has more than 166,000 in Texas.