Cox Blames "Fiber Cuts" By Provider for Monday's Widespread Outages in RI
GoLocalProv News Team and Kate Nagle
Cox Blames "Fiber Cuts" By Provider for Monday's Widespread Outages in RI
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The website outage.report showed a timeframe of the outage to be approximately six and a half hours, between 3 and 9:30 p.m. Cox provided a statement once repairs were underway as of 9:30 p.m.
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"A widespread outage impacted residential and business customers of Cox Communications and other providers throughout the northeast as a result of fiber cuts experienced by a national service provider. Their technicians worked to repair the issue, and services were restored to our customers around 9:30 p.m., May 9," said Cox Communications Director Eric Wagner. "We will continue to conduct our due diligence to ensure all aspects of our services are 100 percent operational."
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The two largest radio groups in the United States who own most radio stations in the market are both on the verge of bankruptcy.
"Most of Central MA's favorite radio stations may be impacted by a building Wall Street financial meltdown in the radio industry.
The two biggest radio companies in the United States are on the verge of massive restructuring or bankruptcy, as they each have billions of dollars in debt and little chance of managing the building financial obligations.
How bad is the situation? According to one leading radio analyst, the problem is catastrophic. “$20.5 billion in debt for iHeart — billions more than the city of Detroit when it went bankrupt. As I have been reporting, the venture capitalists are circling the carcass for a 2017 bankruptcy. At Cumulus, new CEO Mary Berner has done nothing new except hire another person from outside the industry…They want to go bankrupt and her experience taking Readers Digest into Chapter 11 is her qualification to be CEO,” said Jerry Del Colliano, Publisher, Inside Music Media.
iHeart radio (formerly Clear Channel) and Cumulus are both facing in economic turmoil and those two groups combined own and operate
“iHeart has more debt — unplayable, at double digit interest rates and the junk bond markets just crashed. Cumulus has about $3 billion of debt that will have to be refinanced. Both are in an industry that is trending down. Break even is the new growth in radio. They’re both done,” said Del Colliano.
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Despite many aspects of the regional economy picking up, those homeowners who are underwater are still facing significant problems despite all the federal and state programs.
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