Atlanta -- Tele-Communications Inc. president and chief
operating officer Leo J. Hindery Jr. and BET Holdings Inc. chairman Robert Johnson have a
handshake agreement for TCI to buy out Johnson's stake in Washington, D.C., cable
system District Cablevision, Hindery confirmed last week.
TCI already has a 90 percent stake in the 90,000-subscriber
system, with Johnson and partners controlling the remaining 10 percent.
Johnson said he could not comment on the deal. Last week,
Hindery pledged to rebuild the 64-channel system. TCI sources said the rebuild would take
the system from 550 megahertz to 750 MHz.
Hindery said the District Cablevision plant was a
"dinosaur," and he was committed to making whatever investment was necessary to
improve the system's performance.
He added that he was not planning to sell the system.