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
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April 7, 1999
(Date of earliest event reported)
COMCAST CORPORATION
(Exact name of registrant as specified in charter)
Pennsylvania 0-6983 23-1709202
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
1500 Market Street, Philadelphia, Pennsylvania 19102-2148
(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 7, 1999, Comcast Corporation ("Comcast"), issued a
press release announcing that it has completed the acquisition of a controlling
interest in Jones Intercable, Inc. ("Jones Intercable") Comcast purchased
approximately 12.8 million shares of Class A Common Stock of Jones Intercable
and approximately 2.9 million shares of Common Stock of Jones Intercable,
representing approximately 37% of the economic and 47% of the voting interest in
Jones Intercable. Comcast contributed these shares of Jones Intercable to
Comcast Cable Communications, Inc. ("Comcast Cable"), a wholly-owned subsidiary
of Comcast. The approximately 2.9 million shares of Common Stock of Jones
Intercable represent approximately 57% of the outstanding shares of Common
Stock, and the Common Stock voting as a class elects 75% of the Board of
Directors of Jones Intercable. As, a result, Jones Intercable will be a
consolidated public company subsidiary of Comcast Cable.
A copy of Comcast's press release dated April 7, 1999 is filed
herewith as Exhibit 99.1 and is incorporated herein by reference.
ITEM 7. Financial Statements and Exhibits.
(c) Exhibits:
99.1 Press Release dated April 7, 1999.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
COMCAST CORPORATION
By: /s/ Arthur R. Block
Arthur R. Block
Vice President and
Senior Deputy General Counsel
Date: April 8, 1999
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EXHIBIT INDEX
Exhibit No. Exhibit
99.1 Press Release dated April 7, 1999.
COMCAST CORPORATION
NEWS RELEASE
Contact:
Ken Mikalauskas, Vice President - Finance
(215) 981-7541
Kelley L. Claypool, Senior Analyst - Investor Relations
(215) 655-8016
COMCAST COMPLETES ACQUISITION OF CONTROLLING INTEREST
IN JONES INTERCABLE, INC.
April 7, 1999
Philadelphia, PA-- Comcast Corporation announced today that it has completed the
acquisition of a controlling interest in Jones Intercable, Inc. The Company now
owns approximately 12.8 million shares of Class A Common Stock and approximately
2.9 million shares of Common Stock of Jones Intercable, representing
approximately 37% of the economic and 47% of the voting interest in Jones
Intercable. The Company has contributed these shares to its wholly-owned
subsidiary, Comcast Cable Communications, Inc. ("Comcast Cable"). The
approximately 2.9 million shares of Common Stock represents approximately 57% of
the outstanding Common Stock, which class of stock elects 75% of the Board of
Directors of Jones Intercable. As a result, Jones Intercable will now be a
consolidated public company subsidiary of Comcast Cable.
Investor Relations inquiries for Jones Intercable should now be directed to the
contacts at Comcast listed above.
Comcast Corporation (www.comcast.com) is principally engaged in the development,
management and operation of broadband cable networks and in the provision of
content through principal ownership of QVC, Comcast-Spectacor and Comcast
SportsNet, a controlling interest in E! Entertainment Television and through
other programming investments.
Comcast's Class A Special and Class A Common Stock are traded on The Nasdaq
Stock Market under the symbols CMCSK and CMCSA, respectively.
Jones Intercable (www.jic.com) owns or manages cable operations serving more
than 1.0 million customers. Jones Intercable's Class A Common Stock and Common
Stock are traded on The Nasdaq Stock Market under the symbols JOINA and JOIN,
respectively.
