Cox, Susquehanna Cable Announce System Trades.ATLANTA--(BUSINESS WIRE)--Sept. 7, 1995--Cox Communications, Inc., and Susquehanna Cable Company today announced the signing of a letter of intent to trade Cox's Williamsport, Pa., cable system for Susquehanna's East Providence East Providence, city (1990 pop. 50,380), Providence co., E R.I., on the Providence and Seekonk rivers; inc. as a city 1958. It has a petrochemical production facility and is a wholesale and distribution center for petroleum products in the S New England area. , R.I., cable system. The parties are expected to sign a definitive agreement soon, and expect to close the transaction in the first quarter of 1996, pending legal and regulatory approvals. Financial details of the transaction were not disclosed. The Williamsport system, acquired by Cox as a result of its merger with Times Mirror Company, serves 24,500 customers in Williamsport, Pa., and surrounding communities. The Susquehanna system serves 15,500 customers in East Providence, R.I. Cox currently serves the communities of Providence, North Providence North Providence, town (1990 pop. 32,090), Providence co., NE R.I.; set off from Providence and inc. 1765. Once a large textile town, it is now mainly a residential suburb. A major portion of Rhode Island College is within the town's limits. , Warwick, West Warwick West Warwick (wôr`wĭk, –`ĭk), town (1990 pop. 29,268), Kent co., central R.I., on the Pawtuxet River; set off from Warwick and inc. 1913. Textile manufacturing remains a leading industry. West Warwick includes the village of River Point. , Cranston, Johnston, Burrillville, Glocester, Scituate, Coventry and East Greenwich East Greenwich is the name of:
"The acquisition of East Providence strengthens our presence in Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. and continues our strategy of consolidating properties to better position the company to offer future services, such as telephony," said Jimmy Hayes For other persons of the same name, see James Hayes. James Allison "Jimmy" Hayes (born December 21, 1946) is a Republican politician from the state of Louisiana. , Senior Vice President and Chief Financial Officer of Cox Communications. "Also, we have been involved in telecommunications in Rhode Island for 14 years and are pleased to extend our quality community and customer service to East Providence." Peter Brubaker, President of Susquehanna Cable Company, commented, "We're pleased that this trade allows us to continue to build a presence in Pennsylvania. Williamsport's size makes it a nice complement to our portfolio of systems." Upon completion of this transaction, Susquehanna Cable will serve approximately 150,000 subscribers in five states. Susquehanna Cable is owned by the Susquehanna Pfaltzgraff Co., a diversified company diversified company A company engaged in varied business operations not directly related to one another. A diversified company is less likely to suffer either a collapse or a spectacular gain in earnings compared with a firm concentrating its operations in a with dinnerware manufacturing and radio operations in addition to cable television systems. Cox Communications, Inc., (NYSE NYSE See: New York Stock Exchange :COX) is the nation's fourth largest multiple system operator, serving some 3.2 million customers. Cox is a fully integrated, diversified broadband communications company with interests in domestic and international cable distribution systems, programming, and telecommunications technology. CONTACT: Cox Communications, Inc. Ellen East, 404/843-5854 (financial and trade press) Dallas Clement, 404/843-5677 (investors and analysts) or Susquehanna Cable Company James Munchel, 717/852-2548 |
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