US West Media Stock Valued: US West...

US West Media Stock Valued: US West Media Group Inc. will value its stock at a premium price of $21 a share to help complete an $11.8-billion purchase of Continental Cablevision Inc. by December, the companies said. Continental Cablevision agreed to accept shares valued at a 24% premium to the market price because “the stock is currently undervalued,” said Amos Hostetter Jr., chairman and chief executive of Continental Cablevision. The acquisition, the largest transaction between a Baby Bell telephone company and a cable TV company, set a price of $20.88 to $28.18 a share when it was announced in February. Since then, US West Media stock has fallen 20%; it closed Friday at $16.875.