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S-4
AVALON CABLE OF MICHIGAN INC/ filed this Form S-4 on 04/01/1999
Entire Document
 
<PAGE>
 
                       AVALON CABLE LLC AND SUBSIDIARIES
 
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
 
4. Pending Acquisition
 
   The Company has a definitive agreement to purchase all of the cable systems
of Taconic Technology Corporation ("Taconic") for approximately $8,525
(excluding transaction fees). As of December 31, 1998, the Company incurred $41
of transaction costs related to the acquisition of Taconic, which are included
in current assets. The merger is expected to close in the second quarter of
1999.
 
5. Prepaid Expenses and Other Current Assets
 
   At December 31, 1998, prepaid expenses and other current assets consist of
the following:
 

<TABLE>
      <S>                                                                  <C>
      Installation supplies............................................... $ 51
      Deferred transaction costs..........................................   41
      Other...............................................................   29
                                                                           ----
                                                                           $121
                                                                           ====
</TABLE>

 
6. Property, Plant and Equipment
 
   At December 31, 1998, property, plant and equipment consists of the
following:
 

<TABLE>
      <S>                                                                <C>
      Cable plant and equipment......................................... $6,435
      Vehicles..........................................................     97
      Office furniture and fixtures.....................................    180
      Buildings and improvements........................................     83
                                                                         ------
                                                                          6,795
      Less: accumulated depreciation....................................   (339)
                                                                         ------
                                                                         $6,456
                                                                         ======
</TABLE>

 
7. Intangible Assets
 
   At December 31, 1998, intangible assets consist of the following:
 

<TABLE>
<CAPTION>
                                                                         1998
                                                                        -------
      <S>                                                               <C>
      Cable franchises................................................. $30,711
      Goodwill.........................................................   1,223
      Non-compete agreement............................................     100
                                                                        -------
                                                                         32,034
      Less: accumulated amortization...................................  (1,230)
                                                                        -------
                                                                        $30,804
                                                                        =======
</TABLE>

 
 
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