Friday, November 21, 2008
Alameda sells city cable service
San Francisco Business Times
The city of Alameda has agreed to sell its municipal cable system to Comcast Corp. for about $15 million, according to a report by a news organization serving the cable industry. The Alameda cable system serves 9.500 video customers and 6,600 data customers.
The island city’s municipal-owned electric utility launched the video service in 2001, according to Multichannel News. A $33 million balloon payment on a bond to pay for building and operating the service is due in June 2009.
Comcast, the dominant cable service provider in the Bay Area, was already competing in Alameda against Alameda Power & Light’s cable service.
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