Springfield Cable Finds a Buyer

SPINGFIELD, FL-- Monday morning, the Springfield City Council agreed to sell Springfield Cable to FiberCast Cable for $33,000.

"Well the cable service was going out 31 December whether someone came in to take it or not. Our system is so old and our equipment is so old that we can't even buy parts for it anymore," said Springfield Mayor Ralph Hammond.

FiberCast Cable is a New Hampshire based company. Springfield's cable system is the first acquisition outside of New England.

For Springfield the deal will mean some new jobs.

"There is going to be at least 2-3 technicians and a couple office people," said FiberCast CEO Gent Cav.

In addition to the $33,000 made in the sale, another $25,000 will be saved just tearing down the old set up.

"We still had probably 3-4 months worth of work to do after we closed. So in reality, we are talking about $60,000 of what we are actually getting out of this deal," said Mayor Hammond.

Customers will continue to receive service during the transition. FiberCast is planning on upgrades in the future.

"Internet is the big thing basically, we have to introduce it as soon as possible. Telephone service will follow it," said Cav.

FiberCast plans to raise monthly bills by an estimated $15. That will keep them competitive with Springfield residents other option, Comcast Cable.