HomeMy WebLinkAboutResolution 81-02
#81-2
A RESOLUTION GRANTING MUNICIPAL
APPROVAL TO THE MERGER OF
TELEPROMPTER CORPORATION AND A
SUBSIDIARY OF WESTINGHOUSE ELECTRIC
CORPORATION AND TO CERTAIN RELATED
TRANSACTIONS
e
WHEREAS, Teleprompter Southeast, Inc. ("Teleprompter
-
Southeast"), a subsidiary of Teleprompter Corporation ("Tele-
prompter") is the cable television franchisee in Ocoee, Florida;
and
e
WHEREAS, Westinghouse Electric Corporation ("Westinghouse"h
proposes to acquire control of Teleprompter Southeast through
a merger between Teleprompter and a subsidiary of Westinghouse
and, prior to said merger, another subsidiary of Westinghouse
will purchase the shares of stock held by various minority
shareholders of Teleprompter, which shares will temporarily be
placed in a trust, all as set forth in the letter application,
~ated January 19, 1981; and
WHEREAS, approval has been requested as to the foregoing
transactions;
NOW, THEREFORE, BE IT RESOLVED, that the City of Ocoee
hereby grants its approval, as requested, to permit Westinghouse
o acquire control of Teleprompter Southeast through the merger
af Teleprompter and a subsidiary of Westinghouse and to the
acquisition by another subsidiary of Westinghouse prior to
3aid merger of minority shareholdings which will be placed in a
rust, all as set forth in the letter application, dated
e
anuary 19, 1981.
Passed this
3RD day of
FEBRUARY
, 1981, effectiv
e
immediately up<?n passage.
e
Approved:
~:!o"f-<7~~o " 'uC~ .-~
I\ttes t:
~()' G'
" . \ ~
2.)~ ,~
LERK