Centennial Communications to Keep Cable Television Properties.Business/High Tech Editors WALL, N.J.--(BUSINESS WIRE)--Aug. 12, 2002 (Nasdaq:CYCL) Centennial Communications Centennial Communications (NASDAQ: CYCL) and its subsidiaries (Centennial Wireless (U.S.), Centennial Dominicana and Centennial de Puerto Rico) provide wireless and broadband telecommunications services to wireless telephone subscribers in the United States, Puerto Rico, the Corp. today announced that it has ended its formal process to explore strategic alternatives for its cable television system in Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. . The company determined that continuing to operate the system provides the highest value for shareholders. Centennial Cable TV operates a cable television system that passes approximately 300,000 contiguous homes in southern and western Puerto Rico. The cable system is undergoing a digital upgrade which is expected to be completed by the end of September 2002. Its franchise areas cover approximately 1.1 million residents or approximately 29% of the island's population. "Centennial is pleased to continue offering video services in Puerto Rico," said Michael J. Small, chief executive officer. "With many new channels due to our digital upgrade, we believe operating this cable television system provides a great growth opportunity for Centennial." Centennial is one of the largest independent wireless telecommunications service providers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and the Caribbean with approximately 18.5 million Net Pops and 906,800 wireless subscribers. Centennial's U.S. operations have approximately 6.0 million Net Pops in small cities and rural areas. Centennial's Caribbean integrated communications operation owns and operates wireless licenses for approximately 12.4 million Net Pops in Puerto Rico, the Dominican Republic Dominican Republic (dəmĭn`ĭkən), republic (2005 est. pop. 8,950,000), 18,700 sq mi (48,442 sq km), West Indies, on the eastern two thirds of the island of Hispaniola. The capital and largest city is Santo Domingo. , Jamaica and the U.S. Virgin Islands, and provides voice, data, video and Internet services on broadband networks  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. in the region. Welsh, Carson, Anderson & Stowe and an affiliate of The Blackstone Group Blackstone Group L.P. (NYSE: BX) is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The company is based in New York City, in River House on Park Avenue at Fifty-first Street, with offices in Atlanta, are controlling shareholders of Centennial. For more information regarding Centennial, please visit our website at www.centennialcom.com. |
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