Canadian cable and telecommunications giant Shaw Communications Inc. said it
has sold its U.S. cable properties in Texas and Florida to two separate
companies for a combined $197 million.
Shaw, which put the systems on the block in April, said it sold its Texas
systems, located in three communities near Houston, to CEQUEL III, the St.
Louis-based investment company headed by former Charter Communications Inc. CEO
The Florida properties were sold to TWEAN Subsidiary LLC, a partnership
managed by Advance/Newhouse Communications.
New York cable investment banker Waller Capital Corp. represented Shaw in
CEQUEL purchased the Texas systems, with about 27,0000 subscribers, for $85
TWEAN -- formed last year after the unwinding of the Time Warner
Entertainment-Advance/Newhouse partnership -- bought the 44,000-customer Florida
systems for about $112 million. According to Shaw CEO James Shaw, the systems
are located around Tampa and Daytona Beach, Fla.
Advance/Newhouse already manages former Time Warner Cable systems with about
2 million subscribers in central Florida and Tampa Bay; Detroit; Birmingham,
Ala.; Indianapolis; and Bakersfield, Calif.