SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 18, 2000
COMCAST LCI HOLDINGS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 333-96804 23-2094942
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(State or other (Commission file (IRS employer
jurisdiction of number) identification
incorporation) no.)
1201 Market Street, Suite 2201
Wilmington, Delaware 19801
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (302) 594-8700
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Item 1. CHANGES IN CONTROL OF REGISTRANT
On January 18, 2000, Comcast Corporation ("Comcast"), through its wholly owned
subsidiary Comcast LCI Holdings, Inc. ("LCI Holdings"), completed the
acquisition of Lenfest Communications, Inc. ("Lenfest"), the nation's ninth
largest cable television operator (the "Acquisition") for approximately 121.4
million shares, subject to closing adjustments, of Comcast's Class A Special
Common Stock, par value $1.00 per share. As part of the Acquisition, Lenfest
merged with and into LCI Holdings, with LCI Holdings as the surviving
corporation of the merger.
A press release announcing the completion of the Acquisition was issued by
Comcast on January 18, 2000. The information contained in the press release is
incorporated herein by reference. The press release is attached hereto as
Exhibit 99.1.
ITEM 7. Financial Statements and Exhibits.
(c) Exhibits:
99.1 Press Release dated January 18, 2000.
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Dated: January 21, 2000 COMCAST LCI HOLDINGS, INC.
By: /s/ William E. Dordelman
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William E. Dordelman
Vice President
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EXHIBIT INDEX
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99.1 Press Release dated January 18, 2000.
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FOR IMMEDIATE RELEASE
COMCAST COMPLETES ACQUISITION OF LENFEST
Philadelphia, PA - January 18, 2000: Comcast Corporation announced today that it
has completed the acquisition of Lenfest Communications, Inc. (Lenfest), the
nation's ninth largest cable television operator. The acquisition adds
approximately 1.25 million cable subscribers to Comcast Cable, solidifying its
position as the third largest cable operator and creating one of the largest and
most concentrated broadband operations in the country.
With the addition of Lenfest and other pending transactions, Comcast Cable will
serve over 8.2 million customers. More than four million of these customers will
be located in the mid-Atlantic region, stretching from New Jersey to suburban
Washington, D.C. Comcast views geographic consolidation of key markets as
critically important to the company's future, enhancing its ability to offer
expanded digital video and high-speed Internet access services to its customers
and helping accelerate deployment of future services, such as residential and
commercial telephone, through its networks.
"This is a red-letter day in the history of Comcast," said Ralph J. Roberts,
chairman of Comcast Corporation. "Two great cable companies, both of which have
their roots in the Philadelphia area, are now one. Gerry Lenfest is an
extraordinary entrepreneur, and he has built a great business in Suburban Cable.
We salute Gerry for all that he has accomplished. We now look forward to
officially welcoming Suburban Cable customers into the Comcast family."
"I did not take lightly the importance of turning over the ownership of Suburban
Cable, the company we built over the last twenty-five years, to the right
successor," said H.F. (Gerry) Lenfest, president and chief executive officer of
Lenfest. "I am most pleased that the ownership of Suburban will pass to Comcast.
Comcast is headquartered in Philadelphia and has grown into a major, national
diversified communications company under the able leadership of Ralph and Brian
Roberts and their management team. I am confident that the Suburban cable
operations and our employees will benefit from being part of the Comcast
family."
Comcast Corporation (www.comcast.com [http://www.comcast.com] ) is principally
engaged in the development, management and operation of broadband cable networks
and in the provision of content through principal ownership of QVC,
Comcast-Spectacor and Comcast SportsNet, a controlling interest in E!
Entertainment Television and through other programming investments.
Comcast's Class A Special and Class A Common Stock are traded on The Nasdaq
Stock Market under the symbols CMCSK and CMCSA, respectively.
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