Cable television operator Comcast Corp – which has also requested permission to try out Personal Communications Network – has struck a complex agreement with Metromedia Corp that will eventually give it full ownership of Metromedia’s cellular franchise in Philadelphia: the agreement in principle is for $1,100m in cash and shares and the price works out at $193 per pop; the franchise, and Metromedia’s interest in the New Brunswick-Long Branch franchise in New Jersey, will be combined with Comcast’s existing American Cellular Corp, which serves a potential 2.2m customers in New Jersey and Delaware.
