HomeMy WebLinkAboutAgenda Report - July 17, 1991 (144)OF
CITE( OF LODE
COUNCIL COMMUNICATION
AGENDA TITLE: Approval of Sale of King Videocable Company and Authorization for
Execution of Appropriate Documents
MEETING DATE: July 17, 1991
PREPARED BY: City Manager
RECOMMENDED ACTION: That the City Council approve the sale of the King
Videocable Company to the Providence Journal Company.
BACKGROUND INFORMATION: The City of Lodi has been notified by King Videocable
Company, in accordance with the requirements of the
Municipal Code, that the company is in the process of
being sold. The attached letter (Exhibit A) serves as the official notice.
Also attached (Exhibit P) is some additional information regarding this
transaction and the purchasing company. King Videocable Company is being
purchased by the Providence Journal Company, a newspaper publishing and
-communications company headquartered in Providence, Rhode Island.
Ms. Deanna Enright, the local cable company's manager, will be in attendance at
Wednesday night's meeting to present this item. It is anticipated that there
may be a representative or two of the Providence Journal Company and/or Colony
Communications, Inc., a wholly-owned subsidiary of Providence, who will manage
King Videocable herein Lodi.
The attached information suggests that the Providence Journal Company has a
proven record of successful cable television operations. It is anticipated
that local subscribers will continue to receive at least the existing level of
service.
FUNDING: None required
TAP:br
Attachments
CCCOM251/TXTA.07A
Respectfully submitted,
Thomas A. Peterson
City Manager
APPROVED: — _ —
THOMAS A. PETERSON _ o.
Cfy Manager
CC -7
Hay 29, 1991
Hr. Tom Peterson
City Manager
City of Lodi
221 West Pine Street
Lodi, CA 95240
IEXMrFAI
wAvenue King Videocable CompanyP9JoeC
„ 98124
206,448-3600
Edward H. Hewson. Jr.
President
CERTIFIED MAIL --RETURN RECEIPT REQUESTED
RE: City of Lodi Cable Television Franchise with Kine Videocable Company
Dear Nr. Peterson:
This notification is given pursuant to Chapter 5,16,390 of the City of Lodi
Municipal Code. On April 29, 1991 King Broadcasting Company entered into an
agreement through which a joint venture of the Providence Journal Company and
affiliates of Kelso & Company, Inc,, will become the owner of the stock of
King Broadcasting Company. When the transaction is completed, King Videocable
Company will be managed by Colony Communications, Inc., the Providence Journal
Company's wholly-owned cable television subsidiary. Colony enjoys an
outstanding reputation for customer service, community involvement, and award-
winning local programming.
King Broadcasting Company will continue to exist and will continue to own all
of the stock of King Videocable Company. Thus, the cable television franchtse
will not be transferred or assigned nor will King Videocable Company be merged
with another company. King Videocable Company will continue to operate the
system under its own name. Nevertheless, the City's approval of this transfer
of control is hereby requested.
Representatives from King and Colony will be contacting you shortly with more
information, If you have any questions concorning this matter, please contact
Deanna Enright, Vice President and General Manager, King Videocable Company
'2093 369-7451.
Sincerely,
Edwaid H. �w�son, Jr.
P sid I:�, King Videocable Company
00
EXMRTB
Lt�pjr B
I<in Vic eocable Company; ry, C ,, o to 4 j(,4nef
^nri;;irr) 7.151
An Affiliate of Kinq Broadcasting Company
May 10, 1991
Tom Peterson
City Manager
City of Lodi
P.O. Box 320
Lodi, CA 95241
Dear Tom:
We are happy to report that a definitive sale agreement has
been reached between King Videocable and The Providence
Journal Company. The Providence Journal Company is one of
the finest media companies in the nation and will make a fine
partner in our community.
Colony` Communications, the wholly-owned subsidiary of The
Providence Journal Company, will manage the day-to-day
operations of the cable franchise once the sale is approved.
Colony Communications recently earned the cable industry's
highest honor - the National Academy of Cable Programming's
1991 Distinguished Achievement award - for community
service.
Enclosed is a copy of the news release announcing the
agreement and additional information on Providence and its
management. Please feel free to contact me if you have any
questions. Thank you.
Sincerely,
Deannn Enright
Enciosures
333
King Broadcasting Company PO Boxter 24525nue North
Seattle Washington 98124
2061448-5555
April 29,1991
Seattle, Washington - King Broadcasting Company. Providence
Journai Company and the investment firm of Kelso and Company, Inc. today
jointly announced the signing of a definitive sale agreement for the acquisition
of King's television and cable operations by the Journal in a joint venture
partnership with Kelso.
"This is a significant step in the fulfillment of our goal to place King
Broadcasting with a company that shares King's values, its respect for
employees and its commitment toward good corporate citizenship," King's
president and CEO Steven A Clifford said. "Workwill now begin by both
companiesto seek the necessary regulatory approvals to transferthe FCC
licenses and cable franchises.
Providence Journal Chairman and CEO Stephen Hamblett said, "The
agreement places us in a major position in the communicationsworld. It greatly
strengthens our broadcast television and cable divisions, adding six television
stations and more than 215,000 cable subscribers in strong markets." An
added feature, according to Hamblett, is that the acquisition of King will provide
Providence Journal with a strong communications presence along the full
length of the East and West coasts of the United States.
The Providence Journal Company is a privately held, diversified
communications company based in Providence, Rhode Island. The company
owns newspapers, broadcast television and cable -TV operations. The
company's newspapers, founded in 1829, are among the nation's most
respected daily papers. They are known collectively as the Journal -Bulletin.
The Journal is the oidest daily newspaper of general circulation in continuous
publication in the United States. The company's television stations are: KMSB,
Tucson, Arizona; MGSW, Albuquerque. New Mexico; WHAS, Louisville,
Kentucky; and WCNC, Charlotte, North Carolina. The Journal's wholly-owned
cable -TV company, Colony Communications, is a pioneer company in the
cable -TV business and serves over 550,000 subscribers in five states.
-more-
Z
King Broadcasting
Definitive Agreement
Page 2
The definitive agreement does not include King Broadcasting's radio stations or
its mobile television company. These properties, which constitute the
remainderof King, are being sold separately.
"The search is underway to find buyers for the radio stations and Northwest
Mobile Television. We expect that this effort wf be completed prior to the
closing of the sale to the Providence Journal later this year," Steve Clifford said.
King's television stations consist of. KING, Seattle: KREM, Spokane,
Washington; KGW, Portland, Oregon; KTVB, Boise, Idaho; K38AS, Twin Falls,
fdaho; and KHNL, Honolulu, Hawaii. King's cable division consists of 13
systems with over 215,000 subscribers in Washington, Idaho, Minnesota and
California. Together, television and cable comprise about 85 percent of the
company.
Sterling Payot Company and Dillon Read & Company are financial advisors to
King Broadcasting in the sale of the television, cable and mobile television
properties. Both, along with Frank Kalil and Company, are assisting King in the
sale of the radio stations. The First Boston Corporation represented the
Providence Journal Company and Kelso & Company, Inc.
For more information: John D. Hough
The Rockey Company
(206) 728-1100
• Nors
iii uAw
NatkaW Acwkmr of
Cahl' Pn,RrnnuninR
ww4iwoft.IX: KMain
Tdrphnw 202 75-36211
Arc' -1.9 FOR
CrAb..r.
Excr I..LENCE
COLONY COPMNICATIONS TO RECEIVE
DISTINGUISHED ACHIEVEMENT AWARD
Colony Communications is the recipient of this year's
Distinguished Achievement Award, In making the announcement,
Doris Indyke, Executive Director of the National Academy of Cable
Programming, explained, '"This award is given annually to a -
company, project or individual who has made a significant
programing contribution at the local level.;
Colony Communications is being recognized for its programming
commitment to ethnic audiences. Specifically, the company
produces 12 hours per day of Portuguese and Spanish language
programming in New Bedford, Massachusetts and Hialeah/Dade
County, Florida respectively.
For many members of the Colony audience, English is not their
primary language. Colony has made a substantial and on-going
commitment to meet the needs and interests of these audiences,
In 1976, a collaboration between Colony's New Bedford, MA system
and a local Portuguese language newspaper started their first
foreign language channel. Colony began with an hour of
programming a day, serving 10,000 subscribers, The service has
grown to 12 hours a day, with an availability to over 175,000
cable households in Massachusetts and Rhode Island,
Approximately half of the programming on the Portuguese channel
is original, including a daily newscast, magazine programs,
special documentaries produced in Portugal, soccer games, cooking
shows, a MTV style music show and discussion programs, Acquired
programming from Portugal and Brazil includes novellas (soap
operas), movies, musical/variety, comedy, news/special event
programs, and live soccer games via satellite. The system also
produces access programs in Cape Verdean, Spanish and French.
(more)
In 1981, Colony's . aleah/Dade County, FL systt launched
Miavision. Initially the service provided two hours per day of
Spanish language programming, now it offers 12 hours per day,
seven days per week of programming. Original programming
includes a daily news program, magazine show and music video
show, a weekly sports talk show, musical variety program and
medical phone-in show, along with boxing, soccer and other
sporting events. Acquired programming includes novellas from
Venezuela, movies from Mexico, Spain, Argentina and the U.S., and
tv series and musical variety programs from Central and South
America, Puerto Rico and the U.S.
Colony's on-going commitment to ethnic programming is exemplified
by the recent collaboration of its Lowell, MA system with a
Cambodian organization to produce a regular program. Similar
efforts are underway in Colony's Los Angeles system to create
programming for its Spanish-speaking community.
The Distinguished Achievement Award will be presented to Colony
Communications at, the "The National Show" Local ACE Awards
celebration, March 26 in New Orleans.
COLONY'S PROGRAMMING AWARDS
The awards that Colony's cable systems have received for their
local programming include ACE Awards from the National Cable
Television Association, (the industry's highest programming award)
the Hometown Video Awards from the National Federation of Local
Cable Programmers and various regional and local programming
awards. tdotably, they have won nine "Awards for Cablecasting
Excellence" (ACE), and ten "HometownUSA Video Festival" awards and
citations. Colony is also nominated €or four additional ACE Awards
in 1991. Below is a general summary of these awards.
MARCH 5, 1991
r
Th* +aco of me "Mmwest ante 1863
Editorials
Pubu~ VWV fass.0
F:*m*.e O ite.: J(). +WaaroW
Cc itorW Page E~ < v ws J. Ouns.s
Manap" Editor. KHry _14."
Assoaate Edit w- Trcnvs A. Awad
Business Ma w. WAWn R C.OW
King's fruitful search
K
ing Broadcasting Co.'. true
to its word,, made an earnest
effort to find abuyer of
its television properties that
would carry on King's_
.commitment to communis
§e�rvice, and it appears
to have found one in the
Providence Journal Co '
The company. is; best known
for its. respected Providence, R.I.-
Journal- the oldest major daily
newspaper•of general, circulation
in continuous publication' in the
United States. But it is no
neophyte in the broadcasting
industry. It has television nations
in Tucson. Albuquerque.
Louisville and Charlotte. N.C. as
well as major cable -TV
operations. The latter have
earned the company the
industry's 1991 Distinguished
Achievement Awa for
Progranminq or outstanding
commumIX service
The Bullittramily, founders
of King, will continue to work for
the best interests of the greater
Seattle area through the newly
established Bullitt Foundation,
which will use proceeds of the
King sale to push
environmental and social causes.
The foundation is sponsor of
the current Oil -Smart Wednesday
program. encouraging motorists
to conserve gasoline each
Wednesday through March.
The Bullitts were this area's
television pioneers. The
Providence Journal Co.
promises to be a worthy second -
generation successor.
Seam Post•bdegigertcer• Sa efty. March Z 1991
THE SALE OF KING BROADCASTING CO.
Buyer turns out to be like King's l�ssing cousin
Providence company is
family based and solid
Igy Igtt MYZIe -
Lite it prospective segoludon, the prnaldemce
Jammu Ca iso torlgtime Gsmdyorned 6ruineaswNh
a atsang eepohal iaemutf and a Ootid aatiomal "
reputation-
.__-;. Bast P.orWenee Journal dirRsa from KIM Braad-
orbett Co. len one impoilamt respect. KimLs owaesa-
decided to sell to pursue other-. Were= the-
Prorideam Journal Co. is am espami tt- media
--co glomerate whose owners say thwou dttum(ned
le remain independeat-
Ro"dowit Journal. based to RAods - Wood.
�eRnotneced yesterday it bas signed a Maw"
`amucemoma to bay Mac Baoadcastift's television
slanon& two in Washsngom. two in Idaho amd o
each in oregon Oma Nonokde. and its tbmriat
tata -
-Cable television system for an andistlosed Prim
c-...'lbe deal. subjects.0 a dellaittre apeement Oma
:regulatory appr—L doesst-iactude King's resat
.stations ale video prodnretiom upiL Stephan Namblett,
_PruvtdemY Journals aimrrmarti said big Compeey
nat Interested in getting intro those busisema• .
An insider at King Broadcasting add. -^M the
Coors! of the lou ax months we have had dozens
and dozens of offers for pieces OF the Company that
were apt pursued because the overall Intent was to
- sell it as a whole- We believe we Can very quk m
What h has. What wit
buck now, unit some o_ f the other potential buyers'
Known: waaidn t say whether King aroadem-
lot will be bo.CK in an -assets only' deaL meaning close to that amount
-than Providaa. Jolrriui-buys the prepCM and Pmrideaee Journal raised the money for the
eWp..L but dont assume mimembiliy for King saroistkm *-no that IM snk of "other
amployre or supplier contracts. part of as media holdings - conular telephone
' -t'te-tut+s-seyters-wbo_contrmf_1Cielf_BroadCmmirK - properties to dortb and South Carolina. Georgia and
Prtsatla -vxsy" FWilitt Calliro and Name --SG"moon---Virginia, CM-ltodk-Cammaaieatiom Groat/ Pard
Ballot -had hoped ro ret at ksat x300 mtlipow for ale million in cash. Father magazine -is- edlbe.
- the .•mpm. built by their ra thrr- industry somreer ester -bas proceeds of that sok and existing rash
sand i'ratrr by the actual purchase price will be would give the company at least MW mstlioa w work
j1"w iii ft"ww"Jamaal cax
P. Jow"andliolklin,
wY1e1gptmtltrmlWfarYWasaiapitm•GC.
- tsgoafasirallcoatdNmNs.
TNishlon tagascWHAS,tI * "'Wc11r.
ChrbatGiWSk heW NSOW. Allw9mrtus.
Cow lstssblsscGolon-Csmm*A m500.000
VAS06 ri IsiModo l NtsuYork
AoridsasdC&Wgli a "
pro$!gfFp "W4
With,
'1Ley're sitting on an enormous anwnat of
cash," said Jobs Morton, a noted media industry
analyst "t think they're -holder{ (for acquisitlonsi
Providence Journal Is also getting Bnaseial
assistance from Kelso -&-Cc, a- New -York -imatment
lirm tkat will be a silent partner in the King
Broadcasting deal.
King will Join Providence Journal s Other bow
Ings, It the dominant daily len Rhode (stq*
mespnvera and Cotta televislon.� , -. .: -
Psoriaeaee Jearn.t tr a privakly held t
vitt n estlrmmted 1260 miuian a asnwl revewa
The business was built on tis Pmriderm oewspa.: -
pers - da ="Ulm JanrmaL the a Balletin -
led a cembkad-edNbn_me da-weefenTh
da, e
Jonrual, foaaded in "M is the Oldest eoatlnoelly -
published newryaper las" the maker the company
41171.
flity bare a reputation at publishing 1. geed _
newspaper -Maine amid. - --
the ProvAspen ban Combined elrcda-
eko of abant =Ma a state tba has a population .
of leas the a mitlkn..'tbat makes than bight -
intleealal over alflirs of the stme. Mart MkbdL
managiseedPaDers we Seneralbregarded aspvedd(ei
good service. but they draw eriUehm "Bks most _
targe dattkx that ooavpelUs smarket^ - - - - -
Pravademee Jmarrol baa been eapamdlag it basic
newspaper business. It holds ams"Ay interests in
yveekb Paper i■ the wmbtmgen. &C area and on
1M west eaasa d Flortds.
Lan year providence Journal as I to ked the
towell tglase) San T26 Mullen; dal loan Curia an
option to convert the debt to a oeabled eQuigsuke
in the oewspaper. And the company has nude An
amueeesafld bid for newspapers in Worcester?_
The company has diversified torn Iden
broadcasting and cable systema An indication otad
importance providence Jousnd Is putting an brand -
can came to the appointment of Tkyen Mores as
president and chief. operstmt_ otpeer last year.
Morea had been chairman of Time Wanw s cable
subsidiary. one of the nation's Ingest cable opera-
tor.
While Pto iditme Journal has groom by ammir�
in familyouved companies rhes could not or diddL
want to remain independeaL it has taken MR to
see the same late doesn't befell u Forbes said the
closely_ held company is structured in such a way
that makes the fixed -sale to -as-outsider-Beady
impossible.
Providence
Journal Co.
to buy'King
Emplo�eesvoice relief
asBulhtts agree on sale
to Rhode Island firm
Kerion ht ptartr: 4 IhtWR bwib edreed
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SATURDAY MGRIdNG Kknot 2 1991 7S CIMS
King: Sale announced next to historic Stimson -Green Mansion
amat PYP• + ur MYr -award wrrr Nkkb. Anchor Me James cited three Po ter
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RESOLUTION NO. 91-137
A RESOLUTION OF THE LODI CITY COUNCIL
APPROVIN5 THE SALE OF ICK" VIDEOCHBLE COMPANY
AND AUTHORIZING EXECUTION OF APPROPRIATE DOCLA ENTS
WHEW-A� the City of Lodi has been notified by King Videocable
Company, in accordance with the requirements of the Lodi Municipal
Code, that the company is in the process of being sold; and
W EWAS� a letter of official notice of said intended sale has
been received by the City (Exhibit A);
NOW, THEREFORE, BE IT RESOLVED, that the Lodi City Council does
hereby approve the sale of King Videocable Company to the Providence
Journal Company, headquartered in Providence, Rhode Island; and
BE IT FURTHER RESOLVED, that the City Manager and City Clerk are
hereby authorized to execute the appropriate documents on behalf of the
City.
Dated: July 17, 1991
I hereby certify that Resolution No. 91-137 was passed and
adopted by the Lodi City Council in a regular meeting held July 17,
1991 by the following vote:
Ayes : Council Members - Pennino, Pinkerton, Sieglock, Snider
and Hi nchman (Mayor)
Noes : Council Members - None
Absent: Council Members - None
Alice M. Reimche
City Clerk
91-137
RES91137/TXTA.02J
July 11, 1991
Mr. Tom Peterson, City Manager
City of Lodi
221 West Pine Street
Lodi, CA 95240
Dear Mr. Peterson:
Colony Communications, ina.
169 Weybosset Street
P.O. Box 969
Providence. Rhode Island 02901-0969
401277-7446
Fax 401277-7694
Bruce A Clark
President
Colony Communications is looking forward to our new
association with King Videocable Company. We know they have a fine
history in Lodi and we intend to carry on their tradition of
excellent customer service and community involvement. We think it
is important to mainta?.n the value of the service to all the
customers. Our company also has a history of local programming and
it's good to see the commitment that King Videocable has made to
covering community events and meetings.
We have carefully reviewed all sections of the franchise
renewed to King Videocable on November 5, 1986. We will fulfill
all existing terms and conditions of the franchise.
We have had a great deal of success in our systems with
various forms of pay-per-view and other new technologies and have
been in the forefront of testing and using optical fiber. Lodi has
a well-maintained system with capacity for additional programming
and other changes in technology. As we assume the management of
King Videocable we will examine technical matters, as well as
financial matters relating to changes to the Lodi system.
It will be several months until the closing of the transaction
is complete and the transfer of the cable franchise is the first
step in the process. A5 we move forward in this change, system
operations - construction of new system, daily maintenance,
responding to customer concerns local programming, etc. - will not
be affected. King Videocable will continue to provide a valuable
service to the community. Our challenge is to meet the needs of
the customers j.nd the community in a rapidly changing industry and
in a community that will grow and change. We look forward to that
opportunity.
s-i�oe.r€1jYy
.`�B uce Af 1 ark
BAC =am
July 19, 1991
M Bruce A, Clark
President
Colony Communications, Inc.
P.O. Box 969
Providence, RI 02901-0969
Dear M Clark:
THOMAS A. PETERSON
City Manager
ALICE M. REIMCHE
City Clerk
ROB McNATT
City Attorney
Attached please find a certified copy of Resolution No. 91-137
entitled, 'A Resolution of the Lodi City Council Approving the Sale of
King Videocable Company and Authorizing Execution of the Appropriate
Documents". The City Council was formally advised of the pending sale
at its meeting of July 17, 1991 and subsequently took this action.
Representatives of King Videocable Company and Providence Journal
Company/Colony Communications addressed the City Council regarding the
matter and responded to questions posed by the City Council.
Should you have any questions, please do not hesitate to call this
office.
Very truly yours,
Alice Mo Reimche
City Clerk
AMR/jmp
Enclosure
cc: Deanna Enright, King Videocable Co.
CITY COUNCIL
DAVID M. PIN N, Mayor
CITY O F L O D I
J AtnES W. PINKERTERTON, Jr.
Mayor Pm Tempore
PHILLIPA. PENNING
CITY HALL, 221 WEST PINE STREET
JACK A. SIEGLOCK
P.O. BOX 3006
LODI, CALIFORNIA 95247-'1910
JOHN R. (Randy) SNIDER
(209) 334-5634
FAX (209) 333-6795
July 19, 1991
M Bruce A, Clark
President
Colony Communications, Inc.
P.O. Box 969
Providence, RI 02901-0969
Dear M Clark:
THOMAS A. PETERSON
City Manager
ALICE M. REIMCHE
City Clerk
ROB McNATT
City Attorney
Attached please find a certified copy of Resolution No. 91-137
entitled, 'A Resolution of the Lodi City Council Approving the Sale of
King Videocable Company and Authorizing Execution of the Appropriate
Documents". The City Council was formally advised of the pending sale
at its meeting of July 17, 1991 and subsequently took this action.
Representatives of King Videocable Company and Providence Journal
Company/Colony Communications addressed the City Council regarding the
matter and responded to questions posed by the City Council.
Should you have any questions, please do not hesitate to call this
office.
Very truly yours,
Alice Mo Reimche
City Clerk
AMR/jmp
Enclosure
cc: Deanna Enright, King Videocable Co.