NPG, a family-owned media company for three generations, has now decided to explore the sale of its cable assets, including the cable tv system in Mammoth Lakes and June Lake.
Bill Severn, Chief Operating Officer for NPG said that The Bradley family of St. Joseph, Missouri, owns the company. He said that the third generation has now decided to explore the sale of the company’s cable systems. Severn said NPG owns ten systems in California, Arizona and Missouri, serving 100,000 customers. He added that the parent company also owns newspapers and broadcast stations, which are not for sale.
Severn underscored for employees and customers the company will run just as usual during this time. He explained that a kind of auction process will proceed. Companies interested in NPG cable will submit bids. Severn said it the bids are above the benchmark set by the family, they will move forward.
Asked to comment on rumors about what companies might have an interest in NPG, Severn said that they are under a non-disclosure agreement and so he could not comment. News reports have said that preliminary information on the systems has been sent to about 35 interested parties. Reports said if the systems are sold, NPG hopes to close the deal by the first quarter of 2011.