NYNEX Cablecomms PLC
NYNEX acquired several of the six Maclean Hunter cable TV franchises in 1993, including East Lancashire Cablevision Ltd, Cheshire Cable Ltd and Staffordshire Cable Ltd. It added these franchises to its concurrently acquired Pacific Telesis franchises and created what it would later call its Northern Division.
The ‘North West Fundamental Plan’ made the business case for a £1.3bn investment in creating an ‘alternative’ (to BT) telecommunications network around Greater Manchester, East Lancashire, Cheshire, Staffordshire and parts of the Wirral. NYNEX proceeded to build the network and listed on the LSE in 1995. Amongst its more successful ventures was the sponsoring of the NYNEX Arena shortly before it was opened. Even today the Manchester Arena can still sometimes be referred to as ‘The NYNEX’.
NYNEX PLC remained majority owned but in partial free float until 1997.
Darwen Management Services
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