In a much smaller but still significant move, BellSouth Corp, Atlanta is to buy 22.5% of privately-held Prime Management Co of Austin, Texas, which manages cable television systems serving over 500,000 customers in markets including Houston, Chicago and Las Vegas. It will also participate with Prime Management in a $450m recapitalisation of Prime’s Community Cable Television of Las Vegas affiliate, providing up to $250m in debt financing, and also gets options to buy all or part of Community and of Prime itself given the regulatory approval.
