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Company Town Annex

March 31, 1995| Times Staff and Wire Reports

Gaylord Entertainment to Sell Cable TV Systems: Nashville-based Gaylord Entertainment Co. announced a definitive agreement to sell its cable television systems for $370 million to CCT Holdings Corp. The sale consists of a $200-million cash payment and a 10-year $170-million note with an initial interest rate of 12%. The terms are in line with those outlined in a letter of intent three months ago. The cable systems being sold serve about 180,000 subscribers in Southern California, North Carolina and South Carolina. CCT Holdings Corp. is jointly owned by investment partnerships affiliated with Kelso & Company Inc. and by Charter Communications Inc., an owner and manager of cable systems.

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