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Article: U S WEST Media Group and Continental Cablevision Near Closing Date for Merger; Companies Agree to Price of U S WEST Shares to Be Used
- Article from:
- PR Newswire
- Article date:
- October 7, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. 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)
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ENGLEWOOD, Colo., Oct. 7 /PRNewswire/ -- U S WEST Media Group (NYSE: UMG) and Continental Cablevision have resolved remaining financial issues and expect to close their merger by the end of November, the companies said today.
The two companies have agreed that each share of U S WEST Media Group stock used in the transaction will be valued by Continental at $21. The deal remains the same in all other significant respects.
"We're pleased to get on with this merger," said Richard McCormick, chairman and CEO of U S WEST, Inc. "It's an important step in our strategy to become a world leader in the delivery of integrated information, entertainment and ...