HomeMy WebLinkAbout10019 - Teleprompter Corporation & Westinghouse Broadcasting Merger• RESOLUTION NO. 10,019
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH CONSENTING TO THE MERGER OF
TELEPROMPTER CORPORATION AND A SUBSIDIARY OF
WESTINGHOUSE BROADCASTING :PURSUANT TO SECTION
5.44.060(g) NEWPORT BEACH MUNICIPAL CODE
WHEREAS, Westinghouse Broadcasting Company, Inc., a
subsidiary of Westinghouse Electric Corporation, plans to acquire
control of Teleprompter Corporation by merger; and
WHEREAS, Section 5.44.060(g) of the Newport Beach
Municipal Code provides that a cable television franchisee cannot
be sold, transferred or otherwise disposed of in whole or in
part, by sale, merger, consolidation or otherwise, without the
prior consent of the City Council expressed by resolution; and
WHEREAS, Teleprompter Corporation has requested the
City Council to consent to the merger of Teleprompter Corporation
with Westinghouse Broadcasting Company, Inc.; and
WHEREAS, the City Council finds and determines that the
merger of Teleprompter Corporation with Westinghouse Broadcasting
Company, Inc., a subsidiary of Westinghouse Electric Corporation,
is in the best interests of the City;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Newport Beach that pursuant to Section 5.44.060(9) of
• the Newport Beach Municipal Code, the Council hereby consents to
the merger of Teleprompter Corporation with Westinghouse
Broadcasting Company, Inc.
l
BE IT FURTHER RESOLVED that the City Clerk is hereby
• authorized and directed to to send a certified copy of this
Resolution to Teleprompter Corporation evidencing the City's
prior consent to the merger.
ADOPTED this 13th day of April 1981.
ATTEST:
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City Clerk
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041381
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