COLUMBUS, Ohio, March 10, 2003 — American Electric Power (AEP) has sold the assets of its C3 Communications subsidiary to Grande Communications for $7 million. The sale resulted in no gain or loss for AEP.
The assets sold include approximately 3,000 route miles of fiber in Texas, Oklahoma, Arkansas and Louisiana. Both C3 Communications and Grande Communications are based in Austin, Texas.
“This sale is part of our ongoing effort to divest of assets that are not part of our core utility businesses,” said Holly Koeppel, AEP executive vice president – energy services.
American Electric Power owns and operates more than 42,000 megawatts of generating capacity in the United States and select international markets and is the largest electricity generator in the U.S. AEP is also one of the largest electric utilities in the United States, with almost 5 million customers linked to AEP’s 11-state electricity transmission and distribution grid. The company is based in Columbus, Ohio.
News releases and other information about AEP can be found on the World Wide Web at http://www.aep.com .