|
|
Article: Continental and Providence Journal to merge cable systems.
- Article from:
- Business Wire
- Article date:
- November 22, 1994
CopyrightCOPYRIGHT 1994 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
BOSTON, PROVIDENCE, R.I.--(BUSINESS WIRE)--Nov. 22, 1994-- Continental Cablevision Inc. and the Providence Journal Co. announced today the signing of a definitive agreement under which Continental will acquire all of the Providence Journal Co.'s owned and operated cable systems in a non-cash exchange for shares of Continental's Class A Common Stock.
Continental, now privately held, will become an SEC reporting company and expects that its shares of Class A Common Stock will be publicly traded as a result of this transaction. The parties have valued the transaction at approximately $1.4 billion including the assumption of $755 million of debt which will be ...