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MEMORANDUM <br /> August 9, 1996 • <br /> Page 14 <br /> In May of 1993, US West entered a partnership of Time Warner Entertainment, the first <br /> partnership between a major telecommunications provider and a major cable television company. <br /> US West is a 25% partner in Time Warner. In December of 1994, US West acquired 54 cable <br /> television franchises in metropolitan Atlanta. The combined systems form the largest single city <br /> cable television operation in the United States. <br /> US West has begun a $250,000,000 rebuild of the Atlanta cable systems utilizing hybrid <br /> fiber/coax design that is telephony/interactive/multimedia capable. <br /> US West stresses that the day-to-day operations will continue to be handled by the same <br /> experienced management group that operates the Continental and Meredith systems today. US <br /> West asserts that the decentralized management • <br /> lazed and locally responsive structure will remain, <br /> together with Continental's engineering and technical support personnel. <br /> The individuals identified by US West in local leadership capacities are the same <br /> individuals identified by Continental in the Meredith/Continental transaction. <br /> Continental Cablevision is a known quantity in Minnesota, having operated the St. Paul <br /> and Northern Dakota County systems from their inception. Additionally, Continental has acquired <br /> the King Videocable systems and has operated them for almost two years. While local franchise <br /> authorities report that they have had the usual "ups and downs" with Continental as a cable <br /> operator, there have been no notices of non-compliance and no litigation in the systems. <br /> Generally, Continental receives a good report from franchise authorities in Minnesota who have <br /> experience with Continental as its cable operator. <br />