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Agenda - Council - 05/27/1986
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Agenda - Council - 05/27/1986
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
05/27/1986
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Inc., by and on behalf of its wholly-owned subsidiary <br />Group W Cable of the Quad Cities, Inc., requesting two <br />forms of approval: <br /> <br />a) <br /> <br />Consent to a change in control and transfer of <br />ownership in Group W to a group of five Buyers <br />(transaction one); and <br /> <br />b) <br /> <br />Consent to a change in control and transfer of <br />ownership in Group W and transfer of the Cable <br />Communications Franchise Ordinance to North <br />Central Cable Communications, L.P. (trans- <br />action two). <br /> <br />On February 21, 1986, the Commission sent to Group W and <br />North Central a Municipal Request for Information Re- <br />garding Request For Approval and Transfer for the pur- <br />pose of inquiring into the legal, technical, financial, <br />and other qualifications of North Central, as authorized <br />and required by state law and the Franchise. <br /> <br />The Commission requested the return of the Municipal <br />Request For Information from Group W and North Central <br />by March 7, 1986 so that it would have sufficient time <br />to review the information. North Central filed its <br />response to the Municipal Request For Information on <br />March 24, 1986. <br /> <br />The Commission received on April 14, 15, and 17 a <br />request from Group W, North Central, and the Buyers, <br />respectively to bifurcate its consideration of the two <br />transactions. Group W, North Central, and the Buyers <br />stated in effect that consent to the first transaction <br />would in no way be construed or viewed as consideration <br />or consent to the second transaction. <br /> <br />The Commission gave notice and held a public hearing on <br />April 9, 1986 for the purpose of providing the public <br />with an opportunity to comment on the two transactions. <br /> <br />On April 9, 1986 the Commission reviewed and discussed <br />the information it had received from Group W and North <br />Central. The Commission unanimously passed a resolution <br />recommending to the Member Cities approval of trans- <br />action one. However, the Commission determined it <br />necessary to continue the public hearing with respect to <br />transaction two because of incomplete responses to <br />requests for information from North Central. <br /> <br />The proposed transaction two involves Daniels & Associ- <br />ates, Inc., a Delaware Corporation; Daniels-~auser Hold- <br />ing Company, a Colorado general partnership; North <br /> <br />- 2 - <br /> <br /> <br />
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