Calif. firm to pay $76 million for N. Arundel Cable

September 26, 1993

A San Francisco-based communications company announced Friday that it is purchasing the North Arundel Cable Television franchise for $76 million.

zTC The sale should not affect the name, staff or operation of North Arundel CATV or its 44,000 customers, said Alan Mutter of

Intermedia Partners III L.P.

If the sale, by Acton Corp. of Raleigh, N.C., is completed, Intermedia would become the 20th-largest cable system in the United States, Mr. Mutter said. The sale would bring its total number of subscribers to 610,000.

Intermedia owns cable systems throughout the United States. This is its first franchise in the Baltimore-Washington area.

Mr. Mutter said his firm is purchasing North Arundel because "it's a well-run system, run the way we would run it. The other thing is, it is a briskly growing area and we are eager to participate in that growth, not only in Anne Arundel County, but the whole region."

Richard A. Leonard, secretary of Acton, said his company is selling North Arundel to raise capital for its other ventures, which include car insurance underwriting and real estate development.

Acton, which once owned several cable franchises, has sold them off gradually over the years, Mr. Leonard said. North Arundel is the last.

Mr. Leonard said the sale is contingent on Intermedia securing its financing and approval by Anne Arundel County, which controls cable franchises.

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