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St. Peter's, Jacksonville and Sampsonville (Richmond County), Nova Scotia - 920082500
Pursuant to Public Notice CRTC 1992-23 dated 19 March 1992, the Commission approves the application for authority to transfer effective control of St. Peter's Cablevision Limited, licensee of the cable distribution undertaking serving the communities noted above, through the transfer of 100% of the issued and outstanding common shares from Bradwell Jeffery (50%) and William Axworthy (50%) to Seaside Cable T.V. (1984) Limited (Seaside Cable). As a result of this transaction, Seaside Cable will acquire effective control of the licensee.
The purchase price for the shares is approximately $228,000 ($800 per subscriber), less all outstanding liabilities of St. Peter's Cablevision Limited at the closing time of the transaction. Based on the evidence filed with the application, the Commission has no concerns with respect to the availability or the adequacy of the required financing and is satisfied with the benefits flowing from this transaction. Moreover, the Commission is of the view that approval of this application is in the public interest.
The Commission expects Seaside Cable to ensure that the commitments identified as benefits are implemented in accordance with the schedule outlined in the application. The Commission reiterates its longstanding policy that subscribers should not be required to pay higher fees merely because the ownership or control of a cable television system has changed hands.