US West Media Group Inc has sold slightly more than 4.4 million shares in Time Warner as part of a plan to liquidate non strategic assets. The shares were sold to Salomon Brothers for about $220m. The company says that the sale of the shares is in no way related to Media Group’s 25 percent interest in Time Warner Entertainment, which does not change as a result of this sale. US West says it has sold or agreed to sell nearly $700m worth of non strategic assets this year, on its way toward a goal of $1 billion for 1997. Media Group acquired the Time Warner shares in its merger with Continental Cablevision, now MediaOne, last year (CI No 2,861).
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