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Comcast Extends Put Deal with Allen

By Multi Channel News Staff -- Multichannel News, 5/14/2003 7:42:00 AM

Comcast Corp. and Paul Allen's Vulcan Inc. were expected to extend a "put" agreement the MSO has regarding its shares of Charter Communications Inc., worth about $725 million, sources said.

Allen and Comcast agreed to postpone the put agreement for 30 days April 14. Sources said the two parties were expected to extend the deadline for the put again, beyond May 14.

Last month, sources said Allen was negotiating a three-way deal where he would pay the cash to Charter, which, in turn, would transfer cable systems with equal value to Comcast.

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