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TW sells cable systems

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Time Warner agreed Wednesday to sell a group of Southern cable systems to two investor groups, Renaissance Media Partners LLC and Morgan Stanley Capital Partners, for about $300 million.

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Familiar Suitor

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Spanish-lingo broadcaster Telemundo Group's stock jumped $1.93 to $38.81 after investment firm Apollo Group confirmed it had submitted an offer to buy the entire company (Daily Variety, Nov. 19).

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