Patriot Media
Patriot Media and Communications CNJ, LLC is a cable operator focused on providing video (basic, premium, digital cable and video on demand), data (broadband Internet) and voice (VOIP) services in demographically attractive suburban areas in the United States. Patriot's platform acquisition, a cable television system in central New Jersey ("CNJ"), is composed of a subscriber base in the top 1% of demographics in the United States. The CNJ system is the incumbent provider of cable services for 31 municipalities in Hunterdon, Somerset, Mercer and Morris counties, and serves approximately 80,000 basic cable subscribers. The Company plans to opportunistically acquire additional cable systems with favorable demographic profiles. Patriot is lead by cable entrepreneur Steve Simmons, and CFO, John Flanagan.
The cable television industry has undergone significant change in recent years as the industry begins to realize revenue from increased service offerings due to cable plant upgrades allowing the provision of digital services. Digital cable plants enable the cable providers to offer increased channel lineups for their basic video tier, a digital tier with greater capacity for additional video programming, video on demand, broadband data service and voice services.
Quick Facts
- Date of Initial Investment: 4/15/2003
- Status: Sold to Comcast Corporation in August 2007
- Type of investment: Fund I
- Headquarters: New Jersey
- URL: www.comcast.com
