FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a or 15d - 16 of
the Securities Exchange Act of 1934
For the month of July 1999
Tevecap S.A.
(Exact Name as Specified in its Charter)
Tevecap Inc.
(Translation of Name into English)
SEC FILE NUMBER: 0-22267
Rua do Rocio, 313
Sao Paulo, SP Brazil
04552-904
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F _______
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under Securities Exchange Act of 1934.
Yes ______ No X
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with rule 12g3-2(b):82 N/A
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SIGNATURES
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.
TEVECAP S.A.
By: /s/ Jose Augusto P. Moreira
-----------------------------
Jose Augusto P. Moreira
Officer
By: /s/ Claudio Cesar D'Emilio
----------------------------
Claudio Cesar D'Emilio
Officer
Date: July 29, 1999
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EXHIBIT LIST
1. One copy of the press release, dated July 8, 1999 containing
information regarding the sale by Tevecap S.A. and its affiliates of
their satellite-based pay television operations and certain assets
related thereto.
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FOR IMMEDIATE RELEASE
Contact: Camille Hardy Marina Leao
(212) 515-0231 (55-11) 3037-2034
New York Sao Paulo
Galaxy Latin America LLC, Tevecap S.A. and The Abril Group
Announce Closing of Agreement to Restructure
DIRECTV Operations in Brazil
Sao Paulo and Ft. Lauderdale, July 18, 1999 -- Galaxy Latin America LLC (GLA),
the DIRECTV(TM) service provider in Latin America, joined founding GLA member
Tevecap S.A. (TVA) and The Abril Group to announce the sale of 100% of Galaxy
Brazil Ltd. to Galaxy Latin America. Galaxy Brazil is the exclusive distributor
of DIRECTV subscription television services in Brazil. In a related transaction,
TVA also sold the company's 10% equity interest in GLA to the other two founding
members, Hughes Electronics Corporation and the Cisneros Group of Companies. On
July 16, the transaction was approved by the Brazilian National Agency for
Telecommunications (ANATEL).
"This agreement supports our strategy to expand DIRECTV business in both Brazil
and Latin America," said Kevin M. McGrath, chairman of GLA. "Restructuring
Galaxy Brazil is, we believe, the most effective means to support the growth of
DIRECTV in Brazil and to continue providing subscribers with the most sought
after entertainment services."
Abril and TVA chairman Roberto Civita added, "Everyone wins with this sale. TVA
has been financially restructured and can now expand cable and MMDS businesses,
along with such new products as our @jato Internet services. GLA will extend the
company's satellite presence in Brazil. The Brazilian consumer benefits from
added competition by a new entrant in the pay-television business."
GLA's DIRECTV is the first digital direct-to-home entertainment option to serve
Latin America and the Caribbean. The region's leading provider of satellite
television, the company offers extensive programming from Latin America, the
United States, Europe and Asia. Impulse pay- per-view and an interactive program
guide were among other "firsts" delivered to the region by DIRECTV, along with
such exclusive packages as the Spanish and Italian soccer leagues.
The service is available in 25 countries, including Argentina, Brazil, Chile,
Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama,
Trinidad and Tobago, Venezuela as well as several island nations in the
Caribbean. DIRECTV will shortly be launched in Puerto Rico, Peru, Paraguay,
Uruguay and in the region's remaining countries.
A multinational Company, GLA is now owned by the Hughes Electronics Corporation
and the Cisneros Group of Companies. Galaxy Latin America(TM) and GLA(TM) are
trademarks of Galaxy Latin America LLC.
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Tevecap is a leading Brazilian operator of pay-television. While Abril is TVA's
majority shareholder, minority positions are held by Falcon International, The
Hearst Corporation, ABC-Disney and Chase Manhattan Bank.
The largest magazine publisher in Latin America, Abril is also one of the
region's major media conglomerates. Besides producing and distributing books,
videos, CDs and CD-ROMs, the company provides Internet (ISP), online, direct
marketing and pay-television services. In addition to businesses in Brazil,
Abril maintains operations in Portugal and Argentina. Abril's 1998 revenues
exceeded US$1.5 billion.
