Mediacom Communications Corporation

  • Overview

Only in America would Iowa's top cable provider be headquartered in New York and owned by a man with an Italian name. Mediacom offers cable, Internet, and digital phone service throughout smaller markets in 22 mostly Midwestern and Southern states. Its core markets include major metropolitan areas in Georgia, Illinois, Iowa, and Missouri. The company operates through Mediacom LLC and Mediacom Broadband. Mediacom LLC has 441,000 video subscribers; 420,000 data customers; and 169,000 phone customers. Mediacom Broadband has about 558,000 basic video subscribers.

Geographic Reach

The company provides services to 1,500 communities in 22 US states, including in Georgia, Florida, Illinois, Iowa, and Missouri.

Operations

Mediacom is uniquely positioned in that it mainly competes with satellite cable providers for TV customers, but DIRECTV and DISH Network are unable to provide phone service over their network. Comcast and Time Warner Cable, the nation's top two cable companies, do not operate in Iowa, which has allowed Mediacom to flourish in the Hawkeye State. About half of the company's customers subscribe to two or more services, such as cable and Internet, and almost 20% are "triple-play" customers who also buy phone service.

Its business partners include American Cable Association, Cable Labs, National Cable and Telecommunication Association, Cable in the Classroom, C TAM, and C-Span.

Strategy

Boosting its Mason City and northern Iowa offerings, in 2012 the company added 54 high definition channel, a 120% boost to customers' HD lineup, as automatic additions to customers' existing subscriptions. The move more than doubles the number of HD channel choices available to viewers in an eight-county area of north-central Iowa. New HD channels include ABC Family, Hallmark, and NBC Sports Net.

Ownership

Mediacom is owned by its chairman, CEO, and founder Rocco B. Commisso. Mr. Commisso, who came to the US as a child and was an executive at  Cablevision, took the company private in 2011 when he bought the remainder of shares he didn't own for $8.75 per share. The buyout followed a previous offer that was rejected as too low in 2011. Commisso founded the company in 1995; it went public in 2000 and sales hit $1 billion by 2003.

Stock prices for cable companies have traditionally been devalued by debt, competition, and a complicated shareholder structure -- Mediacom's stock was offered at $19 a share when it went public in 2000. The nation's third-largest cable company,  Cox, which competes with Mediacom in the Gulf Coast region, was taken private in 2004.

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Mediacom Communications Corporation


1 Mediacom Way
Mediacom Park, NY 10918-4850
Phone: 1 (845) 443-2600
www.mediacomcc.com

STATS


  • Employer Type: Private
  • Chairman and Chief Executive Officer: Rocco Commisso
  • Executive Vice President, Operations: John Pascarelli
  • Executive Vice President and Chief Financial Officer: Mark Stephan

Major Office Locations

  • Mediacom Park, NY