01-12-1987 Council Packet - Laserfiche WebLink

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I. INT"ODUCTION At the time of awarding the original cable communica- tions franchise, the Commission considered and approved the technical ability, financial capability, and legal qualifi- cations of Dow -Sat, as well as other appropriate factors. These same qualifications are to be considered and reviewed as part of the transfer requ(-.,I- as they relate to Dowden Partners. The sources of information used in examining these factors include a Private Offering Memorandum dated October 24, 1986 and other supplemental information provided by Dow -Sat and Dowden Partners dated November 8, 1986. II. DESCRIPTION OF TRANSACTION Dowden Communications, Inc. ("DCI")- the parent company :f Dow -Sat, has entered into an Asset Purchase ..greement dated October 24, 1986 with Bariston Cable Investors, L.P. ("Bariston Investors"). Under the Asset Purchase Agreement, Bariston Investors will. acquire from DCI, on the terms and conditions set forth in the Agreement, substantially all of the business and assets used or useful in connection with the ownership and operation of the cable system. Our review of the Agreement shows no adverse terms or conditions as it relates to the Commission's interests. The Agreement pro- vides for a closing date of not later than December 16, 1986. The primary question presented by a review of the trans- action is to whom the system and franchise are being trans- _..