RCN

(RCNI)

, a cable TV provider with about 400,000 subscribers, might be trying to find a buyer.

Bloomberg

reported Wednesday that RCN has hired Blackstone Group to help it examine its options, citing people who were familiar with the plan.

RCN, of Herndon, Va., filed for bankruptcy in 2004 and emerged from Chapter 11 later that year. According to the report, citing unnamed sources, RCN might get offers from private equity firms or communications companies.

Shares of RCN were gaining $2, or 7.7%, to $28 following the report.