Rocco B. Commisso to Acquire Mediacom Communications at $8.75 per Share

MEDIACOM COMMUNICATIONS CORPORATION MCCC announced today that it has entered into a definitive merger agreement with Rocco B. Commisso, the founder, Chairman and Chief Executive Officer of Mediacom, and an entity created by Mr. Commisso. Upon consummation of the merger, all of the outstanding shares of Mediacom common stock not owned by Mr. Commisso will convert into $8.75 per share in cash. The transaction results from extensive negotiations between Mr. Commisso and a Special Committee of independent directors of Mediacom formed in response to a “going private” proposal made on May 31, 2010 by Mr. Commisso to acquire all publicly held shares of Mediacom common stock for $6.00 per share. The final price of $8.75 per share represents a 46% premium above Mr. Commisso's original $6.00 offer and a 64% premium above the closing price of $5.33 for Mediacom's Class A Common Stock on the last trading day prior to the publication of Mr. Commisso's May 31 proposal.