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TCI buys all of TKR Cable

Published on .

Knight-Ridder, Miami, is selling to TeleCommunications Inc. all of Knight-Ridder's interests in their jointly owned TKR Cable Co. for $420 million in cash and TCI stock. TKR owns cable systems in New Jersey and New York. Ross Jones, Knight-Ridder's senior vice president and CFO, said the market is not adequately reflecting the value of the stock, "and we have concluded that our shareholders will best be served by our selling our interest to TCI."

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