Times Mirror Co. will swap its Phoenix and other Arizona cable television systems for a number of cable systems across the country under an agreement in principle announced Monday with Tele-Communications Inc. and United Artists Communications.
On Sept. 17, Times Mirror said its cable television subsidiary had held preliminary discussions about such a transaction.
The Los Angeles-based media company, which owns the Los Angeles Times, is acquiring cable systems in South Lake Tahoe, Calif.; Reno and Carson City, Nev.; Decatur, Ill.; Zanesville, Ohio; Brookhaven, N.Y., and Taunton and North Attleboro, Mass., in the trade.
Tele-Communications and United Artists Communications, both of Denver, will form a partnership to own and operate the Arizona systems, which also include subscribers in Tempe, Chandler, Mesa, Paradise Valley, Fountain Hills, Nogales, Bullhead City, Casa Grande and Lake Havasu.
The parties said the Arizona systems are expected to serve more than 185,000 subscribers by year-end. Times Mirror will receive about the same number of subscribers in the systems that it is acquiring.