January 28, 1995 |
Time Warner Inc. is buying Houston Industries Inc.'s cable interests for about $2.2 billion, pushing its cable TV holdings closer in size to those of industry leader Tele-Communications Inc. The deal announced Friday, which comprises stock and assumed debt, advances Time Warner's efforts to assemble cable system groups large enough to justify the heavy investment in technology needed for new services such as telephones.
August 13, 1996 |
Just look at the names: Houston Industries, NorAm Energy, Delmarva Power & Light, Atlantic Energy. It's hard to think of utilities as sexy, particularly compared with marquee names such as Disney, Microsoft, General Electric and IBM. But power companies are merging at a stunning pace, as fast as those in any industry. Two deals announced Monday punctuate that trend and show that utilities are thinking hard about deregulation and their future. Electricity provider Houston Industries Inc.
September 29, 1995 |
Bidding War Erupts for Britain's Norweb: Two Texas utilities, Houston Industries Inc. and Central & South West Corp., made a friendly $2.7-billion takeover bid for the British utility. Hours later, Britain's North West Water said it was raising its hostile offer to $2.72 billion from $2.5 billion. Executives at Houston Industries and Central & South West indicated that their bid of $16.68 a share is not final. Norweb said it will recommend that shareholders accept the Texas offer.
March 26, 1998 |
Southern California Edison said it received $43 million for its Ormond Beach generating station in Oxnard, the last of the 12 gas-fired power plants that Edison was ordered to sell as part of the restructuring of the state's electricity industry. The sale to Houston Industries Power Generation of Houston is scheduled to close June 1. The Oxnard plant is the fifth Edison power plant purchased by Houston Industries since November. In all, Rosemead-based Edison has received $1.
October 13, 1995
Texas Energy Partners has pulled out of a bidding war for British utility Norweb after North West Water raised its offer. The British water company on Wednesday increased its bid for Norweb to $2.9 billion, above a $2.77-billion offer by Houston Industries Energy Inc. and Central & South West Corp., the Texas-based partners.
July 2, 1987
Group W Cable, which provides service in El Segundo, Gardena, Hawthorne, Lawndale and Torrance, officially became Paragon Cable on July 1, a spokeswoman for Paragon said. The company's new name and logo will begin appearing in promotional material and in billing statements. Paragon is owned by American Television and Communications and Houston Industries. ATC was one of five cable companies that purchased the Group W Cable system last year from Westinghouse Electric.