Times Mirror sold its cable-TV system in Hartford.
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The Los Angeles-based company said it signed a letter of intent to sell the system in the Connecticut city to United Cable Television, Denver. The sale, for $61.5 million cash, requires approval of state and federal regulators and the companies’ respective boards. Times Mirror’s cable unit said last November that it would sell the 60,000-subscriber system as part of a settlement of a four-year legal battle. The Connecticut Department of Public Utility Control had objected to Times Mirror’s ownership of both the Hartford Courant newspaper and a cable system serving the same area.
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