Allen Buys Cable Firm

Billionaire Paul Allen bought 95 percent of Marcus Cable Co. for $2.78 billion in cash and debt in a bet that cable television will provide a highway for services such as the Internet and electronic shopping.

Allen is expected to use Marcus’ 1.2 million customers as a base for more acquisitions to bring new services into the home. Marcus is the largest closely held cable system in the U.S. and 10th-biggest overall.