ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, May 11, 1996 TAG: 9605130055
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
SOURCE: GREG EDWARDS STAFF WRITER
Booth American Co. has hired Salomon Brothers, a Wall Street investment firm, to help it explore the future of its cable television systems in Salem, Blacksburg and seven other localities - including their possible sale.
Ralph Booth II, president of Detroit-based Booth American, confirmed Friday that Cox Communications Inc. of Atlanta - which provides cable television services in Roanoke and Roanoke County - is one of the companies with which Booth is talking. But Booth said he was discussing the Salem operation with a number of companies and Cox doesn't have the edge.
Cox has filed an application to provide telephone as well as cable television services in Virginia - initially in the Tidewater area. Adding Booth's 12,000 customers in Salem to Cox's 55,000 customers elsewhere in the Roanoke Valley might be attractive to Cox if it decides to provide phone service in the Roanoke area, Booth agreed.
Cox, however, declined to comment on any talks it might be having with Booth.
Booth American, whose Booth Communications subsidiary operates the cable companies, hired Salomon in March to help it consider various alternatives - including alliances, joint ventures, partnerships and the sale of all or part of the company's U.S. cable television operations, the company said.
The company is exploring a variety of options, including business combinations and swaps, Booth said. The company is going to do something, he said, but whether it sells its systems outright has yet to be decided.
LENGTH: Short : 35 linesby CNB