Irvine Co. Turns Over Cable TV, Boat Slip Operations to Other Companies : REAL ESTATE

The Irvine Co., the huge Newport Beach landowner and developer, said it has completed a major restructuring by turning over operation of its cable television business and its boat slips in Newport Beach to outside companies.

Previously the company had relinquished management of its office buildings, farming business and other operations to outside companies, slimming down to 400 employees from a high of 1,400 two years ago.

As part of its executive developer strategy, the company’s Community Cablevision business will now be run by Colony Communications Inc., a national cable television operator.

Community Cablevision has 35,000 customers in Irvine and parts of Tustin, Orange and Newport Beach.

Colony operates in five states and has 25,000 customers in Costa Mesa, Cypress and La Palma.

Sixty of Community Cablevision’s 70 employees will be offered jobs at Colony.

And the Irvine Co.’s California Recreation Co., which manages about a fifth--or 600--of the 3,000 rental boat slips in Newport Harbor, will now be run by Western National Properties Management Co. Inc.

Western National already manages 4,000 Irvine Co. apartments in Newport Beach and Irvine.