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« Metro Round-Up: Springfield, Ill., Network Canceled;Houston, We Have a Payout; Colorado Cities Pick Provider; EarthLink Elaborates on Muni Plans | Main | EarthLink Gives Up on San Francisco »
Hardly the best way to kick off expense cutting: A day after EarthLink announced layoffs of nearly half its staff, including the head of municipal networks, the company has agreed to pay Houston $5m because of delays in starting its network construction. The city announced this payment this morning, and EarthLink now has nine months to begin construction. That $5m would be twice the city’s $2.5m anchor tenancy commitment. The city may also consider other offers now, too, without any obligation to return the money.
I’ve been saying for weeks that I thought it unlikely EarthLink would build out Houston in the end. Paying a $5m penalty and walking away is cheaper than building and operating a $50m network.
Posted by Glennf at August 29, 2007 12:42 PM
Categories: Financial, Metro-Scale Networks, Municipal
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