Comcast-CalPERS joint ventureComcast Corp. and the...

BUSINESS DIGEST

October 14, 1994

Comcast-CalPERS joint venture

Comcast Corp. and the nation's largest public investment fund will invest $555 million in a joint venture to acquire cable television systems, the companies announced yesterday.

The first purchase to be undertaken under the agreement between the California Public Employees' Retirement System, known as CalPERS, and Comcast will be the $1.27 billion acquisition of the U.S. cable TV operations of Maclean Hunter Ltd.

Maclean parent Rogers Communications Inc. of Toronto agreed in June to the sale, which would give Comcast more than 3.5 million subscribers, making it the nation's third-largest cable operator.

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