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Cable television broadcasting industry

Century Communications Corp. to Cease Trading on American Stock Exchange

Strategic Insights

— 1 min read

Century Communications Corp., a telecommunications company with a broad range of operations including cable television, radio, and cellular services, announced that it would cease trading on the American Stock Exchange effective January 4, 1995. The company's Class A Common Stock would instead be quoted on the NASDAQ National Market System under the symbol CTYA, where it expected to benefit from increased visibility and sponsorship. Century operates 55 cable systems across 24 states and Puerto Rico, serving over 975,000 basic subscribers, and has a significant presence in the cellular telephone market through its subsidiary Centennial Cellular Corp.

Key Takeaways:

  • Century Communications Corp. will cease trading on the American Stock Exchange effective January 4, 1995.
  • The company's Class A Common Stock will be quoted on the NASDAQ National Market System under the symbol CTYA.
  • Century operates 55 cable television systems in 24 states and Puerto Rico, serving over 975,000 basic subscribers.
  • The company owns and operates four radio stations in addition to its cable television and cellular services.
  • Century has a significant presence in the cellular telephone market through its 34% owned subsidiary Centennial Cellular Corp.
  • Centennial Cellular Corp. represents a population of approximately 6.2 million, with 5.2 million served by systems it owns or manages.
  • The company also operates paging, specialized mobile radio, and conventional mobile telephone businesses in certain markets.

Statistics:

  • 55: The number of cable television systems operated by Century Communications Corp.
  • 24: The number of states and Puerto Rico where Century's cable systems are located.
  • 975,000: The number of basic subscribers served by Century's cable systems.
  • 34%: The percentage ownership stake of Century in its subsidiary Centennial Cellular Corp.
  • 6.2 million: The population served by the cellular telephone systems operated by Centennial Cellular Corp.
  • 5.2 million: The number of people served by systems owned or managed by Centennial Cellular Corp.
  • 1.0 million: The population represented by minority investments in limited partnerships owning cellular telephone systems in the Sacramento Valley and San Francisco Bay area.

Sources:

  • Business Wire, December 30, 1994

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