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GALAXY CABLEVISION ENTERS INTO A LETTER OF INTENT WITH CHARTERHOUSE

GALAXY CABLEVISION ENTERS INTO A LETTER OF INTENT WITH CHARTERHOUSE
 SIKESTON, Mo., Oct. 13 /PRNewswire/ -- Galaxy Cablevision, L.P. (AMEX: GTV) announced that it has entered into a letter of intent with Charterhouse Equity Partners, L.P., CableMaxx, Inc., Supreme Cable Co., Inc., and certain affiliates of Supreme relating to the proposed purchase from the seller, by and entity to be formed by Charterhouse and Galaxy, of certain wireless cable television assets serving the Austin and San Antonio, Texas markets. The letter of intent also outlines purchase options for the wireless cable system assets serving the Sherman-Denison market and the Temple/Killeen, Waco and Lubbock, Texas markets. The letter of intent is generally non-binding and the acquisition by Charterhouse and Galaxy is subject to a number of conditions, including the execution of a definitive purchase agreement.
 The seller and Galaxy had previously entered into a purchase and sale agreement dated Jan. 15, 1992, as amended, providing for the acquisition by Galaxy or its assignee of the properties and the option properties. Pursuant to extensions obtained by Galaxy the closing under the acquisition agreement was to occur on or before Oct. 1, 1992. The letter of intent provides for the extension of the proposed closing date under the acquisition agreement to Nov. 30, 1992.
 Galaxy Cablevision, L.P. engages in the business of acquiring, owning and operating cable television systems and currently serves approximately 54,000 basic subscribers in the six states.
 Galaxy's Units are traded publicly on the American Stock Exchange under the symbol "GTV."
 -0- 10/13/92
 /CONTACT: Tommy L. Gleason, Jr. or J. Keith Davidson of Galaxy Cablevision. 314-471-5022/
 (GTV) CO: Galaxy Cablevision, Charterhouse Equity Partners ST: Missouri IN: ENT SU:


LD-AH -- NY098 -- 9616 10/13/92 18:52 EDT
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Publication:PR Newswire
Date:Oct 13, 1992
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