MEDIA

Times Mirror Holders OK Sale of Cable Operations: The Los Angeles-based owner of the Los Angeles Times and New York’s Newsday newspapers said its shareholders approved the $2.3-billion merger of its cable television operations into Cox Communications Inc. In a news release, the company said more than 84% of the voting interest approved the pact, which is expected to be completed Feb. 1. Times Mirror shareholders other than the Chandler Trusts will receive shares in the new Times Mirror Co. and about 20% of the stock of Cox Communications, having a value of about $932 million, or $10.45 per Times Mirror share, provided that the Cox Communications stock trades within a range of $15.624 to $19.096 during a specified period after the merger. The new Times Mirror shares are expected to begin trading today on a when-issued basis, the company said. It said its non-cable operations will receive up to $1.3 billion in the deal and will continue to trade regularly until further notice.