TCI sells ETC division to secretive group.
Multichannel News, September, 1997 by Paikert, Charles
Tele-Communications Inc. has decided to pull back from the education-for-profit business, and it plans to sell a majority stake of its educational-training subsidiary, ETC w/tci Inc., to a company controlled by financier Michael Milken and Oracle Corp. CEO Larry Ellison. TCI has signed a nonbinding letter of intent with Knowledge Universe to form a new educational venture that would include a "significant portion" of ETC's assets, but that would be majority-owned by the Milken-controlled company.
TCI will also purchase the minority interest in ETC held by Tony Coelho, the investment banker and former high-ranking Democratic congressman, who is the company's chairman and CEO. Coelho will, however, remain as a TCI board member. Cable-industry observers said...
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