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VISION CABLE OF METROLINA <br /> 52 McCACHERN BLVD. e P,O, BOX <br /> CONCORD~ N.C, 28025 <br /> <br /> 704-788-4T57 <br /> <br />? Hatch 3, 1981 <br /> <br /> Charles D. McOinnis <br /> County Hanager <br /> P 0 Box 707 <br /> Concord, N,C. 28025 <br /> <br /> Gentlemen: <br /> <br /> I am very pleased to inform yot] ghat Vlsion Cable <br /> has signed an agreement to merge with The Newhouse Group. <br /> Inc., a part of the cluster of companies which comprise <br /> the very extensive and substantial Newhouse communications <br /> activities. It is expected that the transaction, which is <br /> subject to governmental approvals including the Federal <br /> Communications Commission, will be completed before the end <br /> of the year. <br /> <br /> Although ownership will be transferred as a result <br /> of this arrangeme~]t, Vision Cable will continue to function <br /> as a distinct enti.~;y, as w[[[ each of our operating sub- <br /> sidiaries. The corporate names and ail the people, includ- <br /> ing those in the home office, wJli concinue in the same <br /> operative roles. <br /> <br /> 'l'h~rc wi. IL b~ a dil't'~rcr~ce, h,~wcver. That dJt'ference <br /> ~s ghat Visio~ will have both the great array of Newhouse's <br /> broad experience in the comrau~ications industry available <br /> to apply to o~r cable televisio[~ ope~xagions and enhanced <br /> financial resources to assis~ us in that efforg. Vision <br /> and its operating companies have always tried to be among <br /> the pioneers in our industry, whether it be among the first <br /> security alarm sysgems or local earth sg~tions, oF new <br /> marketing incenbives, or consgructing a 400 HHZ cable plang; <br /> we expect with ~his merger to have the ability to be even <br /> more innovative. <br /> <br /> "THE ENTERTAINMENT PEOPLE" <br /> <br /> <br />