New Zealand Pay TV Station Is Sold:...
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From Times Staff and Wire Reports
New Zealand Pay TV Station Is Sold: A consortium that includes two large cable companies and two U.S. telephone giants has agreed to buy 51% of New Zealand’s Sky Entertainment, the country’s first pay television station, for an undisclosed price. The consortium includes Tele-communications Inc., Time Warner Inc. and telephone companies Bell Atlantic Corp. and American Information Technologies Corp., better known as Ameritech. Bell Atlantic and Ameritech bought the Telecom New Zealand telephone company for $2.5 billion.
