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February 14, 1988


By CBR Staff Writer

Cable television operator and Muzak (dis)services supplier Comcast Corp, Bala Cynwyd, Pennsylvania (well why shouldn’t the Welsh take a few of their placenames with them – the English did enough of it) has trumped Cellular Communications Inc’s $15.50 a share offer for up to 53% of American Cellular Network Corp, Atlantic City, New Jersey, by winning agreement for an offer of $25 a share, valuing the company at $230m: there may be still higher bids, because American Cellular is seen as the cleanest mobile phone services game in town – it has positive cash flow, is not overburdened by debt, and its franchises are in a densely populated part of the Boswash corridor – the stretch from New York City to Philadelphia.

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