http://gigaom.com/2003/11/04/the-pragmatics-story-continues/ The Business of Technology Thu, 20 Nov 2008 08:44:43 +0000 http://wordpress.org/?v=MU hourly 1 http://gigaom.com/2003/11/04/the-pragmatics-story-continues/#comment-82 Om Malik on Broadband : » Level 3’s Metro Makeover Sat, 28 Jan 2006 00:08:09 +0000 http://gigaom.wordpress.com/2003/11/04/the-pragmatics-story-continues/#comment-82 <p>[...] It is now positioned with metro circles in fast growth South-East US markets like Florida, Georgia and Virginia. The new fiber aside, Level 3 will be able to add approximately $70 million in revenues and approximately $7 million of annualized positive free cash flow from the PT business. If this deal is going to help Level 3, it is also good news for Sean Doherty, a former @Home executive who was part of my story, The Pragmatics: telecom’s survivors, in the old Red Herring. Sean had started Odyssey back during the telecom bust, at a time when most people were hitting the exits. He had basically decided that because everyone was dumping, and prices were falling, it was time to pick up bargains. He did, and in December 2002 bought his first fiber company, EPIK Communications. Days before that company was going to be auctioned off. In December 2003, he merged EPIK with Progress Telecom.  Funnily enough, Sean had once told me that he actually got paid to take EPIK off the investors hand. Well, three years and patience has turned that into a whole lotta dollars. [...]</p> [...] It is now positioned with metro circles in fast growth South-East US markets like Florida, Georgia and Virginia. The new fiber aside, Level 3 will be able to add approximately $70 million in revenues and approximately $7 million of annualized positive free cash flow from the PT business. If this deal is going to help Level 3, it is also good news for Sean Doherty, a former @Home executive who was part of my story, The Pragmatics: telecom’s survivors, in the old Red Herring. Sean had started Odyssey back during the telecom bust, at a time when most people were hitting the exits. He had basically decided that because everyone was dumping, and prices were falling, it was time to pick up bargains. He did, and in December 2002 bought his first fiber company, EPIK Communications. Days before that company was going to be auctioned off. In December 2003, he merged EPIK with Progress Telecom.  Funnily enough, Sean had once told me that he actually got paid to take EPIK off the investors hand. Well, three years and patience has turned that into a whole lotta dollars. [...]

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