P. M. BRIEFING : Cooke Will Sell Cable Holdings
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Jack Kent Cooke, owner of the Daily News in Los Angeles and the Washington Redskins, announced an agreement to sell his cable holdings, which reach 675,000 subscribers, to a consortium of six buyers.
Cooke’s company, Jack Kent Cooke Inc., based in Middleburg, Va., did not disclose the value of the sale, announced in Los Angeles by Cooke CableVision on Thursday.
The buyers of the Woodland Hills-based cable company are Tele-Communications Inc., InterMedia Partners, TCA Cable TV, Falcon Cable TV, Chambers Communications and an entity including members of the John J. Rigas family.
Four of the firms--Tele-Communications, InterMedia, TCA and Falcon--were involved in a previous deal to buy the cable properties for an estimated $1.47 billion. Cooke canceled that deal last March.
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