UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
FORM 3
OMB APROVAL
OMB NUMBER: 3235-0104
Expires: September 30, 1998
Estimated average burden
hours per response........0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section
17(a) of the Public Utility Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
1. Name and Address of Reporting Person*
Comcast Corporation
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(Last) (First) (Middle)
1500 Market Street
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(Street)
Philadelphia PA 19102
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
11/23/98
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Sprint Corporation (PCS)
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5. Relationship of Reporting Person to Issuer (Check all applicable)
Director X 10% Owner
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Officer (give title below) Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
x Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
<TABLE>
<CAPTION>
1. Title of Security 2. Amount of Securities 3. Ownership 4. Nature of Indirect
(Instr. 4) Beneficially Owned Form: Direct Beneficial Ownership
(Instr. 4) (D) or Indirect (Instr. 5)
(I)(Instr. 5)
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<S> <C> <C> <C>
</TABLE>
(Over)
SEC 1473 (7-96)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
1. Title of Derivative 2. Date Exercisable 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature
Security (Instr. 4) and Expiration Securities Underlying sion or ship of In-
Date (Month/Day/Year) Derivative Securities Exercise Form of direct
-------------------- (Instr. 4) Price of Deriv- Bene-
Date Expira- --------------------------------- Derivative ative ficial
Exer- tion Title Amount Security Security: Owner-
cisable Date or Direct ship
Number (D) or (Instr.
of Indirect 5)
Shares (I)
(Instr.
5)
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<S> <C> <C> <C> <C> <C> <C> <C>
PCS Common Stock Series 2, See Note See Note PCS Common Stock Series See Note See Note
par value $1.00 per share 1 1 1, par value $1 per share 47,248,435 1 I 5
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Series 7 PCS Preferred Stock, See Note PCS Common Stock Series See Note See Note
par value $1000 per share 11/23/98 2 2, par value $1 per share 61,726 3 I 5
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PCS Common Stock Series See Note See Note
Warrants (Convertible) 11/23/98 11/23/98 2, par value $1 per share 3,015,858 4 I 5
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</TABLE>
Explanation of Responses:
(1) Each share of Series 2 PCS Stock automatically converts into one share of
Sprint Corporation PCS Common Stock-Series 1, par value $1.00 per share
(the "Series 1 PCS Stock"), under certain circumstances. Because the
Reporting Person does not have the right to acquire any shares of Series 1
PCS Stock underlying the Series 2 PCS Stock, the Series 7 Preferred Stock
or the Warrants, within sixty days of the date of the event requiring this
statement, the Reporting Person disclaims beneficial ownership of all
shares of Series 1 PCS Stock underlying the Series 2 PCS Stock, the Series
7 Preferred Stock and the Warrants, beneficially owned by the Reporting
Person.
(2) Sprint may redeem any outstanding shares of Series 7 Preferred Stock after
November 23, 2001, and must redeem all outstanding shares of Series 7
Preferred Stock on November 24, 2008.
(3) Each share of Seventh Series Preferred Stock, no par value per share (the
"Seventh Series Preferred"), of Sprint Corporation may be converted at any
time at the option of the holder into (i) shares of Series 2 Stock if such
holder is a Cable Holder, or (ii) shares of Series 1 Stock if such holder
is not a Cable Holder. Each share of Seventh Series Preferred is
convertible into a number of shares of Series 2 Stock equal to the
aggregate Liquidation Preference (as defined in the Certificate of
Designations of the Seventh Series Preferred as filed with the Kansas
Secretary of State on November 23, 1998 (the "Certificate of
Designations")) of the Seventh Series Preferred shares surrendered for
conversion divided by the Initial Conversion Price (as defined in the
Certificate of Designations), subject to adjustment. The Certificate of
Designations defines Liquidation Preference as $1,000 per share, plus any
accumulated unpaid dividends, and Initial Conversion Price means 1.28
multiplied by the average of the daily closing prices of the Series 1 Stock
for the 30 consecutive trading days ending as of the 45th trading day
following the commencement of regular way trading in connection with the
recapitalization of Sprint Corporation. See Note 4.
(4) The exercise price with respect to each Warrant or Series 7 Preferred Stock
shall be an amount equal to the average daily closing prices of a share of
PCS Common Stock -- Series 1 for the period of 30 consecutive trading days
ending on the 45th trading day. Sprint Corporation completed its
recapitalization on November 23, 1998 and regular way trading on the New
York Stock Exchange of the Series 1 Stock began on November 24, 1998.
(5) Comcast Corporation, as the indirect holder of 100% of the capital stock of
Comcast Telephony Services Holdings, Inc., which directly owns the
securities reported, may be deemed to exercise beneficial ownership over
the securities reported herein. However, the filing of this Form 3 shall
not constitute an admission of beneficial ownership of the securities
reported herein, and Comcast Corporation expressly disclaims such
beneficial ownership.
/s/ Arthur R. Block December 10, 1998
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**Signature of Reporting Person Date
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
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SEC 1473 (7-96)
