Washington -- The Washington Post Company announced today that Post-Newsweek Cable, a subsidiary, has completed the acquisition of a cable system serving approximately 25,000 subscribers from Time Warner on August 15, 1996. An agreement in principle to purchase the system was reached on August 8, 1995.

"This acquisition is part of our long-held strategy to increase holdings of cable systems in classic, non-urban markets," said Alan G. Spoon, president, The Washington Post Company.

The cities served by the system include Prescott, Prescott Valley, and Chino Valley, AZ. A $10.5 million rebuild and upgrade will start immediately and is expected to be completed by April 1999.

Post-Newsweek Cable currently serves over 580,000 subscribers in 16 midwestern, western, and southern states.

Contact:

Rima Calderon
(202) 334-6617