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RES 87127
City of Pleasanton
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RES 87127
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6/21/2012 4:31:54 PM
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12/11/1999 12:15:13 AM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
4/7/1987
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March 13, 1987 <br /> <br /> Mr. Larry Miller <br /> Assistant City Manager <br /> 200 Bernal Avenue <br /> Pleasanton, CA 94566 <br /> <br /> Dear Mr. Miller: <br /> <br /> I am pleased to inform you that Viacom International Inc. <br /> ("Viacom"), the ultimate parent company of Tele-Vue Systems, <br /> Inc., the cable franchisee in Pleasanton, has agreed to merge <br /> with a subsidiary of National Amusements, Inc. National <br /> Amusements is a major corporation engaged in the local <br /> motion-picture theatre business and is currently the largest <br /> single shareholder of Viacom. Viacom will be the surviving <br /> corporation of this merger, and this transaction will not cause <br /> any changes in the operations or management of the cable system. <br /> Tele-Vue Systems, Inc. will continue to be the franchisee and, as <br /> indicated in the attached certificate (Attachment A), will <br /> continue to be bound by the terms and conditions of the existing <br /> franchise. <br /> <br /> As you know, another group, MCV Acquiring Corp., previously <br /> sought to acquire Viacom. We sincerely appreciate your diligent <br /> efforts in handling our request to you in connection with that <br /> proposal. HDwever, since then, Viacom's board of directors has <br /> accepted an offer from National Amusements and has terminated the <br /> prior MCV agreement which was never consummated. <br /> <br /> The National Amusements transaction has solid financial <br /> support. As documented by the attached letter from National <br /> Amusements' President Sumner M. Redstone (Attachment B), National <br /> Amusements has agreed to contribute $500 million in common equity <br /> to this transaction. In addition, $175 million will be provided <br /> by Merrill Lynch, Pierce, Fennet & Smith and $2.315 billion will <br /> be provided by a consortium of bank lenders, led by the Bank of <br /> America. <br /> <br /> National Amusements, headquartered in Dedham, Massachusetts, <br /> is engaged in the business of developing, owning and managing <br /> commercial income-producing entertainment properties, such as <br /> single and multi-screen movie theatres, drive-in movie theatres <br /> and parking facilities adjacent to movie theatres. The company <br /> is a substantial and financially solid operation with theatres in <br /> <br />6640 Sierra Lane, Dublin, CA 94566 · Mail: P.O. Box 13, Pleasanton, CA 94566 · (415) 829o1811 <br /> <br /> <br />
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