Times Mirror Buys Remaining Shares in R.I. Cable-TV Firm
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Times Mirror Co. said Friday that it has acquired from a local investor group the remaining 60% of stock in Rhode Island Cable Television that it did not already own. Terms of the agreement were not disclosed.
Rhode Island Cable Television provides service to 34,000 subscribers in Providence and North Providence.
Times Mirror already owned the cable system in nearby Warwick, R.I. By owning the Providence system, too, it hopes to combine certain business operations of both and thereby make the two companies more profitable.
Times Mirror, publisher of the Los Angeles Times, is a Los Angeles-based diversified media company with interests in newspapers, magazines, cable, broadcast television and specialized scientific and professional manuals, textbooks and charts.
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