Suburban Buys Raystay Co.1/31/1999 7:00 PM Eastern
Oaks, Pa. -- Suburban Cable has agreed to purchase Raystay
Co., a cable company with nearly 61,000 subscribers in south-central Pennsylvania, for an
Suburban is a subsidiary of Philadelphia-based MSO Lenfest
Raystay, headquartered in Carlisle, Pa., operates as TV
Cable of Carlisle and TV Cable of Franklin and Fulton counties. Suburban has owned a 45
percent interest in Raystay since 1994.
The deal is expected to close by the end of the second
quarter. Upon completion, the former Raystay properties will be operated under the
The Raystay acquisition is part of an ongoing strategy by
Suburban to create clusters in the Pennsylvania, New Jersey and Delaware areas. The
company already serves about 1 million subscribers in the three-state region.