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): February 2, 1998
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General Instrument Corporation
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(Exact name of registrant as specified in its charter)
Delaware 001-12925 36-4134221
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(State or other jurisdiction of (Commission File No.) (I.R.S. Employer
incorporation or organization) Identification No.)
101 Tournament Drive, Horsham, PA 19044
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(Address of principal executive offices) (Zip Code)
(215)323-1000
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(Registrant's telephone number, including area code)
NextLevel Systems, Inc.
8770 W. Bryn Mawr Avenue, Chicago, Illinois 60631
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(Former name and former address, if changed since last report)
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Item 5 Other Events
The Registrant hereby incorporates by reference the description of the matters
set forth in its press release dated February 2, 1998 (such press release being
Exhibit 99.1 attached hereto).
Item 7 Financial Statements and Exhibits
(c) Exhibits
99.1 The press release issued on February 2, 1998 by General
Instrument Corporation
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 hereunto duly authorized.
General Instrument Corporation
By: /s/ Keith A. Zar
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Keith A. Zar
Vice President and General Counsel
February 2, 1998
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Date
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EXHIBIT INDEX
Sequential
Page
No. Exhibits No.
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99.1 The press release issued on February 2, 1998 4
by General Instrument Corporation
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Media Contact: Dick Badler
VP, Corporate Comm.
773-695-1030
[email protected]
Investor Contact: Mark Borman
VP, Investor Relations
773.695.1150
[email protected]
NEXTLEVEL SYSTEMS, INC. CHANGING ITS NAME BACK TO
GENERAL INSTRUMENT CORPORATION TODAY
New York Stock Exchange Ticker Symbol Will Be GIC
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HORSHAM, Pa. - February 2, 1998 - NextLevel Systems, Inc. (NYSE: NLV) announced
today that its name is officially changing to General Instrument Corporation
(NYSE: GIC) as of the opening of trading on the New York Stock Exchange this
morning.
In addition, the corporate headquarters for General Instrument has moved from
Chicago, Ill to Horsham, Pa. The new location has been home to the corporation's
principal operating division, the Broadband Networks Group.
Horsham, Pa., in addition to being the General Instrument corporate
headquarters, will be headquarters for the following strategic business units of
the company: Digital Networks, which manufactures and markets digital cable TV
systems; Advanced Networks, which produces advanced analog cable TV systems; and
Transmission Networks, which designs and installs cable TV transmission systems.
(more)
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NextLevel Systems Changing Its Name
Page 2 of 2
The company's Satellite Data Networks unit, which makes and markets satellite
transmission systems and set-top receivers for the C-band (big dish) and Ku-band
(small dish) satellite TV industry, as well as SURFboard cable modems, will
continue to be based in San Diego, Ca.
The General Instrument name was chosen for its strong brand equity in the
company's cable and satellite TV businesses. Last month, GI announced that it
has separated its advanced telephony business from its core cable and satellite
TV operations by placing Next Level Communications in a new limited partnership
to maximize its growth potential.
General Instrument is the world leader in analog and digital systems that
provide video, audio and high-speed Internet/data services over cable and
satellite television networks. This past December, GI announced that major cable
operators expect to purchase at least 15 million of GI's advanced digital
set-top terminals over the next 3-5 years at an estimated value of $4.5 billion.
Last month, GI and Sony announced that they plan to form a strategic alliance to
jointly develop technologies for digital cable TV devices and high definition
television products.
GI's cable and satellite TV operations have approximately 7,000 employees and
annual sales of approximately $1.8 billion. With the name change to General
Instrument Corporation, the company's ticker symbol on the New York Stock
Exchange was changed this morning to GIC from NLV.
Visit the General Instrument website at www.gi.com
