Agenda - Council - 04/22/1986 - Laserfiche WebLink

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O'CONNOR & HANNAN ATTORNEYS AT LAW City Administrators and City Clerks of Quad Cities Cable Communications Commission Page Two April 21, 1986 The complexity of the two transactions and the specific analysis which was undertaken by the Commission, on behalf of its member cities, cannot be fully described in this memorandum. Generally, the first transaction involves Westinghouse Broadcasting and Cable, Inc., the'parent company of Group W Cable, Inc., selling and transferring 100% of its stock in Group W Cable to a group of five Buyers. Since Group W Cable of the Quad Cities, Inc. is a wholly-owned subsidiary of Group W Cable, the Buyers will indirectly own and control your cable system. It is this first transaction to which the Commission is recommending the Cities' approval. No Ordinance amendment is required at this step. The second transaction involves the specific transfer of Group W of the Quad Cities, Inc. to North Central Cable Communications, L.P. This transaction will also require the Cities' approval, however, the Commission is still undertaking its review and analysis of this transaction. The Commission will make a recommendation to the Cities concerning the second transaction in the near future. I have included a copy of a memorandum which explains in detail the two transactions. This memorandum was presented to the Commission and formed a basis for their recommendation of approval of transaction %1. I have enclosed this memorandum for your information and for the information of your Council members. I have prepared a resolution for your City Council which will effectively approve Transaction No. 1 consistent with the Commission's unanimous recommendation. I would ask that you place this matter on your next Council agenda. If you would like a representative of the Commission to be present at your Council meeting, please contact Terry O'Connell, Cable Administrator, at 421-6630. Additionally, if you should have any questions concerning this transaction you may contact either Mr. O'Connell or myself. Following the Council's adoption of the enclosed resolution, I would ask that you promptly return it to me at the above address. Note: The Buyers have requested that the attached Resolution be certified according to your regular procedures for such certification. Please return a signed copy of this Resolution and the certification to my office as soon as possible. Thank you for your cooperation in this matter. MJA:abg Enclosures