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Lenfest Communications Inc

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BUSINESS
January 10, 1989 | Associated Press
The New York Times Co. said Monday that it has agreed to sell its cable television system for $420 million to a venture that will be managed by a minority investment group. The price amounts to nearly $2,600 per subscriber, which industry analysts said made it one of the more expensive cable system sales to date. Because the sale was to a minority-managed venture, the deal may also qualify for tax advantages that would boost its effective value to the Times.
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BUSINESS
November 17, 1999 | From Bloomberg News
Comcast Corp. agreed to buy cable-television company Lenfest Communications Inc. from AT&T Corp. and the Lenfest family for about $5.55 billion, adding 1.25 million subscribers in the Philadelphia area. Comcast, the third-largest U.S. cable-TV provider, would exchange 116 million Class A special common shares and assume $1.5 billion in debt. The agreement overrides AT&T's plan to buy the 50% of Lenfest it didn't already own.
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BUSINESS
November 17, 1999 | From Bloomberg News
Comcast Corp. agreed to buy cable-television company Lenfest Communications Inc. from AT&T Corp. and the Lenfest family for about $5.55 billion, adding 1.25 million subscribers in the Philadelphia area. Comcast, the third-largest U.S. cable-TV provider, would exchange 116 million Class A special common shares and assume $1.5 billion in debt. The agreement overrides AT&T's plan to buy the 50% of Lenfest it didn't already own.
BUSINESS
January 10, 1989 | Associated Press
The New York Times Co. said Monday that it has agreed to sell its cable television system for $420 million to a venture that will be managed by a minority investment group. The price amounts to nearly $2,600 per subscriber, which industry analysts said made it one of the more expensive cable system sales to date. Because the sale was to a minority-managed venture, the deal may also qualify for tax advantages that would boost its effective value to the Times.
NEWS
January 9, 1989 | From Times wire services
The New York Times Co. has agreed to sell its cable television system for $420 million in cash to an investment group that will include at least 20% minority ownership, it was announced today. J. Bruce Llewellyn, a Philadelphia soft-drink bottling executive who is one of the nation's top black business executives, will head the minority investment partnership. The other investors are a pair of cable-TV companies based in the Philadelphia area, Comcast Corp. and Lenfest Communications Inc.
BUSINESS
January 1, 1997 | Times Staff and Wire Reports
The Securities and Exchange Commission has won a court order upholding its "misappropriation" theory in insider trading cases. The order, issued by Judge J. Curtis Joyner in Pennsylvania, denied a motion for a summary judgment by defendant Marguerite Lenfest. She and her husband, Gerry Lenfest, founder and chairman of Lenfest Communications Inc., were charged in 1995 with insider trading violations stemming from the failed takeover attempt for Tele-Communications Inc. by Bell Atlantic Corp.
BUSINESS
January 9, 1989 | Associated Press
The New York Times Co. has agreed to sell its cable television system for $420 million in cash to an investment group that will include at least 20% minority ownership, it was announced today. J. Bruce Llewellyn, a Philadelphia soft-drink bottling executive who is one of the nation's top black business executives, will head the minority investment partnership.
BUSINESS
May 5, 1999 | SALLIE HOFMEISTER, TIMES STAFF WRITER
Comcast Corp. agreed Tuesday not to make a counteroffer for MediaOne Group Inc. in a complicated settlement with its rival in the bidding, AT&T Corp., that all but assures the phone giant's acquisition of the cable company. As an incentive to Comcast for bowing out of the bidding, AT&T agreed to sell Comcast $9 billion in coveted cable systems that serve about 2 million customers.
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