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RESOLUTION No. 86 -25 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF NEWPORT BEACH CONSENTING TO THE SALE OF <br />GROUP W CABLE, INC. PURSUANT TO SECTION <br />5.44.060(g) OF THE NEWPORT BEACH MUNICIPAL <br />CODE AND REPEALING RESOLUTION No. 86 -22. <br />WHEREAS, Group W Cable, Inc. ( "Group W ") is the owner <br />of the cable television system serving Newport Beach, California; <br />• and <br />WHEREAS, all of the stock of Group W is currently owned <br />by Westinghouse Broadcasting and Cable, Inc. ( "Westinghouse "); <br />and <br />WHEREAS, Westinghouse has entered into an agreement to <br />sell the stock of Group W to American Television and Communications <br />Corporation; Century Southwest Cable Television, Inc.; Comcast <br />Corporation; Daniels & Associates, Inc.; and TCI Holdings, Inc. <br />(or their designated affiliates or assignees); and <br />WHEREAS, pursuant to this transaction, it is proposed <br />that Comcast Cablevision of California ( "Comcast ") will become <br />the cable television operator in Newport Beach; and <br />WHEREAS, Section 5.44.060(g) of the Newport Beach <br />Municipal Code provides that a cable television franchise can- <br />not be sold, transferred or otherwise disposed of, in whole or <br />in part, by sale, merger, consolidation or otherwise, without <br />the prior consent of the City Council, expressed by resolution; <br />and <br />WHEREAS, Group W and Comcast have requested the City <br />Council of the City of Newport Beach to consent to these trans- <br />actions, as set forth in the attached letters dated February 19, <br />1986 and March 3, 1986, attached hereto and marked Exhibit "A" <br />and incorporated herein as though fully set forth at length; and <br />WHEREAS, the City Council finds and determines that <br />the proposed transactions are in the best interests of the City <br />• of Newport Beach. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of <br />the City of Newport Beach, that pursuant to Section 5.44.060(g) <br />of the Newport Beach Municipal Code, the City Council hereby <br />consents to the subject transactions. <br />