PacTel Buys Wireless Cabler Pair

Pacific Telesis has acquired wireless cable operators Videotron Bay Area and Wireless Holdings. Both are joint ventures between Transworld Telecommunications and Le Groupe Videotron.

Under the terms of the deal, the purchase will be a stock swap of about $120 million of Pacific Telesis Group stock for the acquired companies’ outstanding stock and the assumption of about $55 million of debt. The final price will be between $160 million and $175 million.

The operators provide video service in the San Francisco Bay area, San Diego and Victorville, Calif., and also hold spectrum rights in Seattle and Spokane, Wash., Tampa, Fla., and Greenville, S.C.

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