SBD/4/Sports Media

CABLEVISION LOOKING FOR A SUITOR; TIME WARNER MOST LIKELY

     Cablevision Industries Inc., is in separate talks with three
suitors, including Time Warner, interested in acquiring all or
part of the "closely held" cable TV company.  Based on the
current valuation of cable properties, an acquisition of all of
Cablevision Industries would be valued at $2.5-3B.  Some familiar
with the situation said Time Warner, which has debt totalling
$15B, would pay with securities for any transaction.  Cablevision
CEO Alan Gerry said that Time Warner is one of 3 companies they
are talking with seriously.  An acquisition of Cablevision by
Time Warner would continue Time-Warner's "aggressive expansion"
into cable.  Adding Cablevision's 1.3M subscribers could boost
Time Warner's total subscribers to about 10M, making it a closer
second to TCI, the largest cable operator with 10.3M subscribers
(Robichaux & Roberts, WALL STREET JOURNAL, 11/4).
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Related Topics:

Cablevision, Media, Time Warner

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