Cooke Buys Cable-TV Systems From McCaw
The sale of cable-television systems owned by McCaw Communications Companies Inc. to Jack Kent Cooke, owner of the Los Angeles Daily News, was announced Thursday by Cooke and Craig O. McCaw.
Their joint statement said McCaw’s cable holdings made it the 20th-largest multiple system cable operator in the United States, with more than 433,000 basic subscribers in 42 markets.
Terms of the all-cash deal were not disclosed.
McCaw’s largest cable systems are in Tucson, Ariz.; Syracuse, N.Y.; southern Oregon, and southern Washington state.
Cooke has been involved in cable operations since 1964, when he founded American Cablevision Co., and was chairman of the board of Group W Cable until May, 1985.
“I look to this transaction to become the cornerstone of an ever-expanding cable-TV enterprise,” Cooke said Thursday.
Cooke also owns the Chrysler and Kent buildings in New York City, farms in Kentucky and Virginia, and the Washington Redskins of the National Football League.
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