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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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) October 25, 1994
SPRINT CORPORATION
__________________
(Exact name of registrant as specified in its charter)
Kansas 1-4721 48-0457967
______ ______ __________
(State of (Commission (IRS Employer
Incorporation) File Number) Identification Number)
2330 Shawnee Mission Parkway, Westwood, Kansas 66205
____________________________________________________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (913) 624-3000
P. O. Box 11315, Kansas City, Missouri 64112
____________________________________________
(Mailing address of principal executive offices)
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Item 5. Other Events
On October 25, 1994, the registrant, Tele-Communications
Inc. (TCI), Comcast Corporation (Comcast) and Cox Cable (Cox)
announced in a press release the formation of a venture packaging
local telephone, long distance and wireless communications with
cable services into a single offering for consumers and
businesses. The joint venture will be owned 40% by the
registrant, 30% by TCI and 15% each by Comcast and Cox. The
parties have signed definitive wireless agreements and created
partnerships to bid jointly for Personal Communications Services
(PCS) licenses to be auctioned by the Federal Communications
Commission. The parties have also entered into a joint venture
formation agreement, which provides the basis upon which they
will develop definitive agreements for their local telephone
activities. Additional information concerning the formation of
the venture is contained in the news release, a copy of which is
filed as Exhibit 99 hereto and is incorporated herein by
reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99. News Release relating to the formation of a Joint
Venture with Tele-Communications Inc., Comcast
Corporation and Cox Cable
SIGNATURE
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.
SPRINT CORPORATION
By /s/ Michael T. Hyde
___________________________________
Michael T. Hyde
Assistant Secretary
Dated: October 25, 1994
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EXHIBIT INDEX
Exhibit
Number Exhibit
______ _______
99. News Release relating to the formation of a Joint
Venture with Tele-Communications Inc., Comcast
Corporation and Cox Cable
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EXHIBIT 99
SPRINT, TCI, COMCAST AND COX FORGE
UNPRECEDENTED COMMUNICATIONS ALLIANCE
NEW YORK, Oct. 25, 1994 -- Sprint, Tele-Communications Inc.
(TCI), Comcast Corporation and Cox Cable today announced a
powerful new venture that will create an unprecedented
communications alternative, packaging local telephone, long
distance and wireless communications with cable services into a
single offering for consumers and businesses.
"This alliance of non-traditional partners -- telephone and
cable -- will revolutionize what is delivered over your telephone,
your cable television and your computer," said William T. Esrey,
chairman and chief executive officer of Sprint. "It is the
single-source provider that will define telecommunications in the
21st century. We have the infrastructure, the financial
resources, the strategic alignment, the marketing presence and the
strong national and local brand recognition needed to compete
successfully.
"This venture means competition can be widely introduced in
the local communications marketplace," he added. "Consumers can
look forward to the widest possible array of communications
services delivered with unsurpassed quality and with all the
assurances and conveniences of a strong national brand."
-more-
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2
SPRINT, TCI, COMCAST AND COX FORGE ALLIANCE
page 2
The cable partners are upgrading their infrastructure to
allow for delivery of broadband, digital telephone services and
the next generation of entertainment services. Telecommunications
products and services with the Sprint brand name and cable
services and products branded by the cable operators will be
cross-promoted. The joint venture will offer Sprint branded
services, using the local cable television systems of the
partners.
"The venture makes clear economic sense for U.S. telephone
customers and for the partners," said John C. Malone, president
and chief executive officer of TCI. "We have a variety of
services beyond the venture's branded telecommunications service
that can be packaged and sold by all partners and affiliates on a
nationwide basis. We have set our sights squarely on a successful
business -- 21st century broadband integrated telecommunications."
With nearly 290,000 cable miles in place, the joint venture's
existing facilities today pass approximately one-third of American
homes. When existing regulatory and legislative barriers to local
telephone competition are removed, the venture could begin serving
the first of these homes with seamlessly integrated voice, video
and data services coupled with wireless within the next year.
-more-
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3
SPRINT, TCI, COMCAST AND COX FORGE ALLIANCE
page 3
"All the partners have consistently and unanimously advocated
opening the local telephone market to competition," said Brian L.
Roberts, president of Comcast. "As we have seen in the long
distance and telephone equipment marketplace, consumers benefit
when they are able to choose from multiple suppliers. This
venture offers the best and fastest way to bring competition to
the last telecommunications bottleneck -- the local telephone
market. Consumers are the ones who will be hurt unless federal,
state and local policymakers seize the opportunity to make this
new age a universal reality and permit all Americans to enjoy the
true benefits of competition."
The partnership will actively seek affiliations with
additional cable companies, and it will offer incentives to cause
other cable companies to affiliate, giving the venture broader
reach.
James Kennedy, chairman and chief executive officer of Cox,
said he is confident that other cable companies will realize the
economic and marketing benefits of the partnership, adding that it
has already received expressions of interest from possible
additional affiliates.
"This venture offers a viable alternative for cable operators
to remain as independent competitors," Kennedy said. "We will
continue to prosper and grow as we participate in providing to
consumers -- for the first time in 90 years -- an alternative to
local telephony service. This partnership will allow us to
continue to brand video services under the Cox name, while also
marketing wireline and wireless telephony services under the
Sprint name. I encourage other cable operating companies to sign
on."
-more-
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4
SPRINT, TCI, COMCAST AND COX FORGE ALLIANCE
page 4
The joint venture will be owned 40 percent by Sprint, 30
percent by TCI and 15 percent each by Comcast and Cox.
The partners have signed definitive wireless agreements and
created partnerships to bid jointly for Personal Communications
Services (PCS) licenses to be auctioned by the Federal
Communications Commission in December. "The venture already
possesses considerable wireless experience and expertise, and
wireless is an essential component of the venture's package
of services," said Roberts. "Sprint's long distance network, the
cable operators' local fiber and coaxial networks and the existing
wireless capabilities of our companies will serve as the backbone
that will link new PCS services owned by the venture. We will
make participation in this venture an attractive opportunity for
PCS license holders, and we will be particularly interested in
affiliations with designated entity groups interested in
partnering with the premier national services provider."
The parties have also signed a detailed joint venture
formation agreement, which provides the basis upon which they will
develop definitive agreements for their local telephone
activities. Additionally, the partners intend that Teleport
Communications Group (TCG), which is owned by several cable
television operators and is the nation's largest competitive
access provider, will be contributed to the venture.
-more-
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5
SPRINT, TCI, COMCAST AND COX FORGE ALLIANCE
page 5
TCG will provide local access for long distance services, a
direct link to business customers and experience in competing
against local exchange companies. TCG's broadband metro network,
which serves 19 major markets and will expand to 25 by mid-1995,
will also link adjacent cable television systems and will continue
to provide local access to Sprint Long Distance and other
carriers. The cable partners are currently in discussions with
the minority Teleport partner concerning its Teleport interest.
"TCG has demonstrated over the past decade that an
entrepreneurial company with experienced management and the latest
technology can successfully challenge the largest local telephone
monopolies by satisfying consumers' demand for new, improved and
high-value local telecommunications services," said Kennedy.
"This partnership is a revolutionary idea in communications,"
Esrey said. "The technology is here, the economics are right and
the time is now."
###
For further information, contact 212-554-2420 on Oct. 25
Susan Kraus for Sprint (after Oct. 25 at 202-828-7410)
Lela Cocoros for TCI (after Oct. 25 at 303-267-5273)
John Alchin for Comcast (after Oct. 25 at 215-981-7503)
David Andersen for Cox (after Oct. 25 at 404-843-5855)
Roger Cawley for TCG (after Oct. 25 at 718-983-2122)
