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INTERNATIONAL CABLETEL INCORPORATED TO FORM JOINT VENTURE FOR SUBURBAN LONDON CABLE AND TELEPHONE FRANCHISE

 NEW YORK, Oct. 20 /PRNewswire/ -- International CableTel Incorporated ("CableTel") (NASDAQ: ICTL) announced today that it had entered into agreements to acquire approximately 70 percent of a newly formed joint venture with Booth American Company and Columbia Management, Inc. that will own four cable television and telephone franchises comprising approximately 350,000 households in the northern suburbs of London (Central and East Hertfordshire and South and North Bedfordshire). The closing of the joint venture agreement is subject to the approval of the U.K. regulatory authorities with regard to the formation of the venture and the construction timetable applicable to these franchises. The formation of the joint venture will increase CableTel's franchise ownership interests in the U.K. by approximately 26 percent from its present 953,000 homes to approximately 1,198,000 homes.
 The ownership of the joint venture company, which will be known as English Cable Enterprises, Inc., will be approximately 70 percent by CableTel, and 30 percent by Booth American and Columbia Management and their affiliates and associates. Representatives of each of the joint venture participants will remain active in the management of the joint venture's operations.
 Booth American Company is a diversified electronic media company with headquarters in Detroit. The company operates two divisions in radio broadcasting and cable television including its wholly owned subsidiary Genesis Broadcasting, Inc., which is based in Dallas. The radio group operates 18 stations in the U.S. The domestic cable television division operates nine systems serving approximately 140,000 subscribers in eight states.
 Columbia Management is a privately held communications company headquartered in Indianapolis. The company has been engaged in the cable television industry in the United States for the past 10 years and active in the development of cable television and telephone in the United Kingdom since 1988.
 CableTel, through subsidiaries, holds licenses to develop, construct and operate cable television, telephone and telecommunications systems in the United Kingdom currently comprising approximately 953,000 homes in suburban London (Guildford), West Yorkshire (Huddersfield), Scotland (Metropolitan Glasgow) and Wales (Cardiff and Newport). Giving effect to CableTel's approximate 70-percent ownership interest in the joint venture, CableTel will then have ownership interest in systems in the U.K. comprising approximately 1,198,000 households. CableTel continues to explore additional joint ventures, business combinations and other relationships with other cable television and telephone franchise owners in the U.K.
 -0- 10/20/93
 /CONTACT: J. Barclay Knapp or Richard J. Lubasch of International CableTel, 212-906-8440; Ralph H. Booth of Booth American, 313-965-3360; or Robert T. Goad of Columbia Management, 317-844-1325/
 (ICTL)


CO: International CableTel Incorporated; Booth American Company;
 Columbia Management, Inc. ST: New York, Michigan, Indiana IN: TLS SU: JVN


ML -- NYON1 -- 4393 10/20/93 08:49 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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