MERGER WITH THE NEWHOUSE GROUP INC
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RESOLUTION
No. 81 - 60
'A RES0LUTI0N OF THE CITY COMMISSION OF
THE CITY OF CLEARWATER, FLORIDA INDICATING
THAT IT HAS NO OBJECTION TO THE MERGER
BETWEEN VISION CABLE COMMUNICATIONS, INC.
AND THE NEWHOUSE GROUP INC.
WHEREAS. Vision Cable of Pinellas, Inc. pre sently holds the
cable television franchise in Clearwater; and
WHEREAS, Vision Cable Communications Inc., the parent corporation
executed a Guaranty Agreement dated February 26, 1980, whereby it
guaranteed the performance of Vision Cable of Pinellas Inc. pursuant to
Ordinances 2084, 2085 and 2086; and
WHEREAS. the merger is proposed between Vision Cable Communica-
tions Inc. and the Newhouse Group II:lc. whereby the Newhouse Group Inc. will
acquire the controlling interest in Vision Cable Communications, Inc.; and
WHEREAS, the City Commission has been notified of such proposed
merger and request has been made to consent to the merger pursuant to a
letter dated June 1, 1981, a copy of which is attached; and
WHEREAS, investigation of such proposed merger does not disclose
any reason why the City COmnU.ssion should refuse to give its consent; and
WHEREAS, such merger will not hamper completion of the service
in Clearwater or result in the public receiving an inferior quality of service;
and
WHEREAS, such merger. will not result in any financial disadvantage
to the franchise and its operation in Clearwater now or in the future; and
WHEREAS, the Newhouse Group Inc. has agreed to be responsible
under the guarantee executed by Vision Cable Communications, Inc.:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COMMISSION OF THE CITY OF CLEAR WA TER, FLORIDA,
IN SESSION DULY AND REGUW\RLY ASSEMBLED, AS
FOLLOWS:
1. That the City Commission of tb.e City of Clearwater, by reason
of the above factors hereby expresses its consent to the merger that
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will permit the Newhouse Group Inc. to acquire control of Vision Cable
of Pinellas Inc. through merger with Vision Cable Communications Inc.
which merger transaction is detailed in the letter dated June 1, 1981,
including all attachm.ents, attached to this resolution.
Z. That this resolution shall become effective immediately upon
its adoption.
PASSED AND ADOPTED this 2nd day of
July
,A.D.,1981.
/s/ Charles F. LeCher
Mayor-Commissioner
Attest:
/ s / Lucille Williams
City Clerk
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