Paul Allen Completes Acquisition of Comcast's Joint Venture Interest for $728M

Paul G. Allen, the Chairman of Charter Communications and one of the founders of Microsoft, completed his acquisition of Comcast's interest in CC VIII, LLC, a joint cable venture with Charter Communications, for approximately $728 million in cash, consistent with an original put agreement. Comcast said it will use the proceeds to pay down debt incurred in connection with the acquisition of AT&T Broadband in November 2002.
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