Cable-TV purchase
Cable-TV purchase
US West Media Group in Denver has agreed to buy Los Angeles-based Continental Cablevision Inc. for $5.3 billion in cash and stock. US West is also assuming Continental`s $5.5-billion debt. This deal is the largest ever between a regional Bell operating company and a cable-TV operator and the first resulting from the Telecommunications Act of 1996. US West plans to add Continental`s 4.2-million cable-TV customers in 20 states to its own base of 2.9-million cable customers in 33 states.