A bidder for Valley Cable's parent claimed victory.

Slaight Communications said it acquired 85% of the 5.9 million shares of Standard Broadcasting, Valley Cable TV's parent, with its tender offer that expired Wednesday. "The battle's over and we've got it all locked up," said Allan Slaight, president of the Toronto-based firm. At current exchange rates, Slaight Communications spent $81.6 million to acquire its 85% stake in Standard Broadcasting. Chatsworth-based Valley Cable serves 56,800 subscribers in the western San Fernando Valley and the city of San Fernando.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World