Who bought RCN?

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On August 15, 2016, a significant business deal was announced in the market. According to the Chicago Tribune, TPG, a reputable private equity firm based in Texas, had reached an agreement to acquire RCN Telecom Services.

The acquisition was valued at $1.6 billion, a substantial investment that underscored TPG's commitment to expanding its portfolio in the telecommunications industry. The deal marked a strategic move by TPG to gain a foothold in one of the most competitive markets in the United States.

RCN Telecom Services is a prominent cable provider in Chicago, serving a vast customer base with its reliable and advanced telecommunications services. The acquisition would grant TPG control over one of the largest cable networks in the city, significantly bolstering its presence in the region.

The announcement of the deal was made on Monday, following weeks of negotiations between TPG and RCN Telecom Services. Both parties had been in discussions for some time, aiming to reach a mutually beneficial agreement that would pave the way for future growth and expansion.