Oak received a bid for its cable-TV division.
Hank Sauer, former senior vice president of Oak Communications, said that he and a group of associates have offered to buy the cable-television subsidiary of San Diego-based Oak Industries for more than $20 million. Oak Chairman E. L. McNeely said previously that he wants to sell the division, which was reportedly losing between $1 million and $3 million monthly. He said he will consider the Sauer group’s proposal. The division employs about 80 people in San Diego and 800 in the Far East, Sauer said.