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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): April 16, 1997
COMCAST CORPORATION
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-6983 23-1709202
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(State or other (Commission file (IRS employer
jurisdiction of number) identification
incorporation) no.)
1500 Market Street, Philadelphia, PA 19102
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (215) 665-1700
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ITEM 5. OTHER EVENTS.
On April 16, 1997, Comcast Corporation announced that its wholly-owned
subsidiary, Comcast Cable Communications, Inc. ("Comcast Cable") intends to
offer approximately $1.0 billion of notes (the "Notes") through a 144A
offering with Registration Rights.
The Notes will be obligations of Comcast Cable and will not be
obligations of, nor guaranteed by, Comcast Corporation. The interest rate and
certain other terms of the Notes have not yet been determined and will be
based on market conditions at the time of pricing. There can be no assurance
that acceptable terms will be reached or that the offering will be consummated.
Comcast Cable anticipates using the net proceeds from the offering to
repay existing borrowings by its subsidiaries. The balance, if any, will be
used for general corporate purposes.
Attached hereto as Exhibit (1) is a copy of the Press Release from
Comcast Corporation.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(b) Exhibits.
(1) Press Release dated April 16, 1997 from Comcast Corporation.
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.
Dated: April 16, 1997 COMCAST CORPORATION
By: /s/ Joseph J. Euteneuer
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Joseph J. Euteneuer
Vice President and Corporate Controller
EXHIBIT INDEX
Exhibit No. Exhibit Page
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(1) Comcast Corporation Press Release dated April 16, 1997. 1
EXHIBIT (1)
COMCAST CORPORATION ANNOUNCES
PRIVATE OFFERING OF DEBT SECURITIES OF
COMCAST CABLE COMMUNICATIONS, INC.
Philadelphia, PA--April 16, 1997: Comcast Corporation announced today that
its wholly-owned subsidiary, Comcast Cable Communications, Inc. ("Comcast
Cable") intends to offer approximately $1.0 billion of notes (the "Notes")
through a 144A offering with Registration Rights.
The Notes will be obligations of Comcast Cable and will not be
obligations of, nor guaranteed by, Comcast Corporation. The interest rate and
certain other terms of the Notes have not yet been determined and will be
based on market conditions at the time of pricing. There can be no assurance
that acceptable terms will be reached or that the offering will be consummated.
The private offering of the Notes will not be registered under the
Securities Act of 1933, as amended (the "Securities Act"), and will be made in
reliance on exemptions from the registration requirements of the Securities
Act. The Notes may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements under
the Securities Act.
Comcast Cable anticipates using the net proceeds from the offering to
repay existing borrowings by its subsidiaries. The balance, if any, will be
used for general corporate purposes.
Comcast Corporation is principally engaged in the development,
management and operation of wired telecommunications including cable
television and telephone services; wireless telecommunications including
cellular, personal communications services and direct to home satellite
television; and content through principal ownership of QVC, the world's
premier electronic retailer, through C3 (Comcast Content & Communication),
through majority ownership of Comcast-Spectacor and controlling interest in E!
Entertainment and through other programming investments. The Company's
consolidated and affiliated operations serve over ten million customers
worldwide.
Comcast's Class A and Class A Special Common Stock are traded on The
Nasdaq Stock Market under the symbols CMCSA and CMCSK, respectively.
FOR FURTHER INFORMATION CONTACT:
William E. Dordelman
(215) 981-7550
