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Sci Holdings Inc

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BUSINESS
December 28, 1987 | From Times Wire Services
A consortium of leading cable television operators has signed a letter of intent to acquire SCI Holdings, parent of the former Storer Communications, for an estimated $2.9 billion. SCI Holdings, based in Miami, has 1.45 million cable television subscribers in 12 states, mostly in the East. It was formed after Storer Communications was taken private in 1985 by Kohlberg, Kravis, Roberts & Co. in a leveraged buyout for $2.5 billion.
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BUSINESS
April 25, 1988 | Associated Press
Two major cable television system operators have agreed to acquire the cable systems of the former Storer Communications for about $1.55 billion, the companies announced Sunday. The planned buyout by Comcast Corp. and Tele-Communications Inc. comes months after a larger consortium that included the two companies dropped a proposal to pay about $2.9 billion for SCI Holdings, the company created when Storer was taken private by the investment firm Kohlberg, Kravis & Roberts in a $2.
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BUSINESS
April 25, 1988 | Associated Press
Two major cable television system operators have agreed to acquire the cable systems of the former Storer Communications for about $1.55 billion, the companies announced Sunday. The planned buyout by Comcast Corp. and Tele-Communications Inc. comes months after a larger consortium that included the two companies dropped a proposal to pay about $2.9 billion for SCI Holdings, the company created when Storer was taken private by the investment firm Kohlberg, Kravis & Roberts in a $2.
BUSINESS
December 28, 1987 | From Times Wire Services
A consortium of leading cable television operators has signed a letter of intent to acquire SCI Holdings, parent of the former Storer Communications, for an estimated $2.9 billion. SCI Holdings, based in Miami, has 1.45 million cable television subscribers in 12 states, mostly in the East. It was formed after Storer Communications was taken private in 1985 by Kohlberg, Kravis, Roberts & Co. in a leveraged buyout for $2.5 billion.
BUSINESS
September 29, 1987
Kenneth Bagwell has been named president and CEO of SCI Holdings Inc. and its principal subsidiary, Storer Communications Inc., Miami. He succeeds Terry Lee, who leads an investor group, WTVG Inc., which will complete itspurchase of Storer's television station in Toledo, Ohio, by mid-October. Bagwell has been executive vice president-operations and president of SCI's Cable Communications division since 1983.
BUSINESS
November 23, 1985
Under the plan approved by Storer Communications shareholders, the company will be bought out by a subsidiary of the New York investment firm Kohlberg Kravis Roberts & Co. Under the $1.98-billion deal, stockholders of North Miami, Fla.-based Storer will receive $91 per share of common stock and a warrant to purchase one share of common stock of SCI Holdings Inc., the KKR subsidiary that will buy Storer. The merger is expected to be concluded by mid-December.
BUSINESS
May 21, 1986 | PATRICK McMAHON and KATHRYN HARRIS, Times Staff Writers
Lorimar-Telepictures has "agreed in principle" to buy six television stations, including KCST-TV in San Diego, for a reported purchase price of $1.8 billion, a Detroit television station reported Tuesday night. The station, WJBK-TV in Detroit, is one of six stations formerly owned by Storer Communications that are to be included in the sale, said George Sells, the station's evening anchor. He said the deal reportedly also includes the Storer Washington news bureau and Storer Programming Inc.
NEWS
May 18, 1989
The U.S. attorney's office in Manhattan has subpoenaed records of Mayor Tom Bradley's financial transactions with the investment firm of Drexel Burnham Lambert Inc., The Times has learned. The subpoena was confirmed by two independent sources who have knowledge of the U.S. attorney's long-running investigation of the investment firm and its indicted "junk bond" king, Michael Milken. One of the sources said the demand for Bradley's records was part of a broader inquiry by prosecutors into Drexel's relations with several politicians.
NEWS
August 6, 1989 | DAVID FREED, Times Staff Writer
Mayor Tom Bradley has lived rent-free for 12 years in a French Colonial mansion owned by the city. Similarly, taxpayers provide Bradley with a chauffeur and other domestic staff and pick up the tab for his utilities, which last year averaged more than $750 a month. Friends and supporters supply the mayor with most of his lunches and dinners, and with his clothes. He receives free tickets to Dodger Stadium--the seats are right behind the home team dugout--and passes to other entertainment events.
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