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) November 17, 1998
FirstEnergy Corp.
(Exact name of Registrant as specified in its charter)
Ohio 333-21011 34-1843785
(State or other (Commission) (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
76 South Main Street, Akron, Ohio 44308
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 330-384-5100
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Item 5. Other Events
On November 17, 1998, FirstEnergy Corp. announced a
Common Stock Repurchase Program, as described more fully in the
press release filed as an exhibit to this Current Report on Form
8-K and incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(99) Press Release dated November 17, 1998 of FirstEnergy
Corp.
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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.
November 19, 1998
FIRSTENERGY CORP.
---------------------
Registrant
/s/ Harvey L. Wagner
-----------------------
Harvey L. Wagner
Controller
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FirstEnergy Corp. For Release: November 17, 1998
76 South Main Street
Akron, Ohio 44308-1890
News Media Contact:
David C. Poeppelmeier
(330) 384-5813
FIRSTENERGY ANNOUNCES COMMON STOCK REPURCHASE PROGRAM
FirstEnergy Corp.'s Board of Directors today authorized the
repurchase up to 15 million shares of the Company's outstanding
common stock over a three-year period beginning in 1999.
"We believe our common stock represents a good value," said
FirstEnergy Vice President and Chief Financial Officer Richard H.
Marsh. "The stock repurchase program should result in share-
price appreciation that will benefit the Company and our
shareholders."
FirstEnergy said the anticipated $450-million repurchase
program will reacquire approximately six percent of its
approximate 237 million shares of outstanding common stock. The
repurchase of common stock, which will be dependent on market
conditions and the company's financial flexibility, will be
accomplished primarily through the use of operating cash flow.
FirstEnergy is a diversified energy services holding company
headquartered in Akron, Ohio. Its four electric utility
operating companies - Ohio Edison and its subsidiary,
Pennsylvania Power, The Illuminating Company and Toledo Edison -
comprise the nation's 12th largest investor-owned electric system
serving 2.2 million customers within 13,200 square miles of
northern and central Ohio and western Pennsylvania.
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