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Comcast Corp. is close to a deal to purchase Susquehanna Media's 230,000 cable subscribers in six states, but the sale price is below the $800 million Susquehanna was originally asking, investment bankers in the cable industry said last week.
Comcast, which already owns a 30% interest in Susquehanna as part of its 2000 deal to buy Lenfest Communications Corp., has always been a favorite to buy the properties because it holds a right of first refusal on any sale. Other bidders on the properties included a management group headed by former Susquehanna Media CEO Peter Brubaker and Patriot Media &...