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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
January 2, 1998 (December 18, 1997)
RCN CORPORATION
(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Delaware 0-22825 22-3498533
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number Identification No.)
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105 Carnegie Center, Princeton, NJ 08540
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(609) 734-3700
(Former name or former address, if changed since last report).
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Item 5. Other Events
On December 18, 1997, Pepco Communications LLC ("PCI-Sub"), a subsidiary of
Potomac Capital Investment Corporation, ("PCI") which in turn is an unregulated
subsidiary of Potomac Electric Power Company (PEPCO) and RCN Telecom Services of
Washington, D.C. ("RCN-Sub") a subsidiary of RCN Telecom Services, Inc., which
in turn is a subsidiary of RCN Corporation, entered into a joint venture to
provide Washington, D.C. area residents and businesses local and long-distance
telephone, cable television, and Internet services as a package from a single
source.
The joint venture will be equally owned and controlled by RCN-Sub and PCI-Sub.
Within three years, the joint venture plans to offer to more than 40 major
communities, over an advanced fiber optic network, the bundled services that
include the first full service alternative to current cable television
providers. In advance of the buildout of the fiber optic network, a competitive
package of local and long-distance telephone and Internet services will be
offered throughout the Washington area.
PEPCO provides electric service to 682,000 businesses and households in the
Washington, D.C. and the Maryland suburbs. PCI conduct PEPCO's ongoing
nonutility businesses and has been operated separately from the regulated
utility since its inception in 1983.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
RCN Corporation
By: /s/ Michael J. Mahoney
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Name: Michael J. Mahoney
Title: President
Date: January 2, 1998
