<PAGE>
FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark one)
[x] Quarterly report pursuant to section 13 or 15(d) of the Securities
Exchange Act of 1934
For the quarterly period ended September 30, 1999
------------------
or
[_] Transition report pursuant to section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from to
------------------------------ ----------------
Commission File Number 0-16200
CABLE TV FUND 14-B, LTD.
- --------------------------------------------------------------------------------
Exact name of registrant as specified in charter
Colorado 84-1024658
- --------------------------------------------------------------------------------
State of organization I.R.S. employer I.D. #
c/o Comcast Corporation
1500 Market Street, Philadelphia, PA 19102-2148
-----------------------------------------------
Address of principal executive office
(215) 665-1700
-----------------------------
Registrant's telephone number
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter
period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days.
Yes X No _____
_____
<PAGE>
CABLE TV FUND 14-B, LTD.
------------------------
(A Limited Partnership)
UNAUDITED CONSOLIDATED BALANCE SHEETS
-------------------------------------
<TABLE>
<CAPTION>
September 30, December 31,
ASSETS 1999 1998
------ ------------- -------------
<S> <C> <C>
CASH $ 747,791 $ 23,538
TRADE RECEIVABLES, less allowance for doubtful receivables of
$7,468 at December 31, 1998 - 157,760
INVESTMENT IN CABLE TELEVISION PROPERTIES:
Property, plant and equipment, at cost - 9,100,340
Less- accumulated depreciation - (4,471,718)
------------- -------------
- 4,628,622
Franchise costs and other intangible assets, net of accumulated
amortization of $1,979,620 at December 31, 1998 - 652,940
------------- -------------
Total investment in cable television properties - 5,281,562
DEPOSITS, PREPAID EXPENSES AND DEFERRED CHARGES - 318,809
------------- -------------
Total assets $ 747,791 $ 5,781,669
============= =============
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
-------------------------------------------
LIABILITIES:
Debt $ - $ 25,981
General Partner advances 148,226 -
Trade accounts payable and accrued liabilities - 89,832
------------- -------------
Total liabilities 148,226 115,813
------------- -------------
PARTNERS' CAPITAL (DEFICIT):
General Partner-
Contributed capital 1,000 1,000
Accumulated deficit (1,000) (3,721)
------------- -------------
- (2,721)
------------- -------------
Limited Partners-
Net contributed capital (261,353 units
outstanding at September 30, 1999 and
December 31, 1998) 112,127,301 112,127,301
Distributions (112,853,367) (102,868,006)
Accumulated earnings (deficit) 1,325,631 (3,590,718)
------------- -------------
599,565 5,668,577
------------- -------------
Total liabilities and partners' capital (deficit) $ 747,791 $ 5,781,669
============= =============
</TABLE>
The accompanying notes to unaudited consolidated financial statements
are an integral part of these unaudited consolidated balance sheets.
2
<PAGE>
CABLE TV FUND 14-B, LTD.
------------------------
(A Limited Partnership)
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
-----------------------------------------------
<TABLE>
<CAPTION>
For the Three Months Ended For the Nine Months Ended
September 30, September 30,
-------------------------------- --------------------------------
1999 1998 1999 1998
-------------- -------------- -------------- --------------
<S> <C> <C> <C> <C>
REVENUES $ - $ 664,551 $ 237,069 $ 14,823,684
COSTS AND EXPENSES:
Operating expenses - 365,465 115,608 8,305,285
Management fees and allocated overhead
from General Partner - 74,137 26,628 1,606,824
Depreciation and amortization - 218,562 75,588 5,344,698
-------------- -------------- -------------- --------------
OPERATING INCOME (LOSS) - 6,387 19,245 (433,123)
-------------- -------------- -------------- --------------
OTHER INCOME (EXPENSE):
Interest expense (2,146) (933) (4,699) (1,249,873)
Gain on sale of cable television systems - - 5,492,858 97,500,303
Other, net (28,527) (411,864) (588,334) (2,583,375)
-------------- -------------- -------------- --------------
Total other income (expense), net (30,673) (412,797) 4,899,825 93,667,055
-------------- -------------- -------------- --------------
CONSOLIDATED INCOME (LOSS)
BEFORE MINORITY INTEREST (30,673) (406,410) 4,919,070 93,233,932
-------------- -------------- -------------- --------------
MINORITY INTEREST IN
CONSOLIDATED INCOME - - - (22,599,271)
-------------- -------------- -------------- --------------
NET INCOME (LOSS) $ (30,673) $ (406,410) $ 4,919,070 $ 70,634,661
============== ============== ============== ==============
ALLOCATION OF NET INCOME (LOSS):
General Partner $ - $ (4,064) $ 2,721 $ 744,383
============== ============== ============== ==============
Limited Partners $ (30,673) $ (402,346) $ 4,916,349 $ 69,890,278
============== ============== ============== ==============
NET INCOME (LOSS) PER LIMITED
PARTNERSHIP UNIT $ (.12) $ (1.54) $ 18.81 $ 267.42
============== ============== ============== ==============
WEIGHTED AVERAGE NUMBER
OF LIMITED PARTNERSHIP
UNITS OUTSTANDING 261,353 261,353 261,353 261,353
============== ============== ============== ==============
</TABLE>
The accompanying notes to unaudited consolidated financial statements
are an integral part of these unaudited consolidated statements.
3
<PAGE>
CABLE TV FUND 14-B, LTD.
------------------------
(A Limited Partnership)
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
-----------------------------------------------
<TABLE>
<CAPTION>
For the Nine Months Ended
September 30,
----------------------------------------
1999 1998
------------ -------------
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 4,919,070 $ 70,634,661
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization 75,588 5,344,698
Gain on sale of cable television systems (5,492,858) (97,500,303)
Minority interest in consolidated net income - 22,599,271
Decrease in trade receivables, net 157,760 896,685
Decrease in deposits, prepaid expenses and
deferred charges 316,356 185,798
Increase (decrease) in General Partner advances 148,226 (617,490)
Decrease in trade accounts payable and accrued
liabilities and subscriber prepayments (89,832) (1,111,211)
------------ -------------
Net cash provided by operating activities 34,310 432,109
------------ -------------
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net (19,115) (2,593,370)
Payment of deferred brokerage fee - (920,000)
Proceeds from sales of cable television systems 10,720,400 186,712,500
------------ -------------
Net cash provided by investing activities 10,701,285 183,199,130
------------ -------------
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings - 2,010,948
Repayment of debt (25,981) (56,168,724)
Distributions to limited partners (9,985,361) (102,868,006)
Distribution to joint venture partner - (25,937,002)
------------ -------------
Net cash used in financing activities (10,011,342) (182,962,784)
------------ -------------
Increase in cash 724,253 668,455
Cash, beginning of period 23,538 173,628
------------ -------------
Cash, end of period $ 747,791 $ 842,083
============ =============
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Interest paid $ - $ 1,752,692
============ =============
</TABLE>
The accompanying notes to unaudited consolidated financial statements
are an integral part of these unaudited consolidated statements.
4
<PAGE>
CABLE TV FUND 14-B, LTD.
------------------------
(A Limited Partnership)
NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
----------------------------------------------------
(1) This Form 10-Q is being filed in conformity with the SEC requirements for
unaudited financial statements and does not contain all of the necessary
footnote disclosures required for a complete presentation of the Balance Sheets
and Statements of Operations and Cash Flows in conformity with generally
accepted accounting principles. However, in the opinion of management, this data
includes all adjustments, consisting only of normal recurring accruals,
necessary to present fairly the financial position of Cable TV Fund 14-B, Ltd.
(the "Partnership") at September 30, 1999 and December 31, 1998, its Statements
of Operations for the three and nine month periods ended September 30, 1999 and
1998 and its Statements of Cash Flows for the nine month periods ended September
30, 1999 and 1998.
The Partnership is a Colorado limited partnership that was formed pursuant
to the public offering of limited partnership interests in the Cable TV Fund 14
Limited Partnership Program (the "Program"), which was sponsored by Jones
Intercable, Inc. (the "General Partner"), to acquire, own and operate cable
television systems in the United States. Cable TV Fund 14-A, Ltd. ("Fund 14-A")
is the other partnership that was formed pursuant to the Program. The
Partnership owned the cable television system serving Littlerock, California
(the "Littlerock System") until its sale on January 29, 1999. The Partnership
owned the cable television system serving Surfside, South Carolina (the
"Surfside System") until its sale on June 30, 1998. The Partnership also owned a
73 percent interest in Cable TV Fund 14-A/B Venture (the "Venture") . The
Venture sold its only asset, the cable television system serving certain areas
in Broward County, Florida (the "Broward System"), on March 31, 1998, and the
Venture was liquidated and dissolved in October 1998. The accompanying financial
statements historically include 100 percent of the accounts of the Partnership
and those of the Venture, reduced by the 27 percent minority interest in the
Venture owned by Fund 14-A. All interpartnership accounts and transactions have
been eliminated.
On April 7, 1999, Comcast Corporation ("Comcast") completed the acquisition
of a controlling interest in the General Partner for aggregate consideration of
$706.3 million. Comcast acquired an additional 1.0 million shares of the General
Partner's Class A Common Stock on June 29, 1999 for $50.0 million in a private
transaction. Upon completion of these transactions, Comcast owns approximately
13.8 million shares of the General Partner's Class A Common Stock and
approximately 2.9 million shares of the General Partner's Common Stock,
representing 39.6% of the economic interest and 48.3% of the voting interest in
the General Partner. Comcast has contributed its shares in the General Partner
to its wholly owned subsidiary, Comcast Cable Communications, Inc. ("Comcast
Cable"). The approximately 2.9 million shares of Common Stock owned by Comcast
Cable represent shares having the right to elect approximately 75% of the Board
of Directors of the General Partner. The General Partner is now a consolidated
public company subsidiary of Comcast Cable.
In connection with Comcast's acquisition of a controlling interest in the
General Partner on April 7, 1999, all of the persons who were executive officers
of the General Partner as of that date terminated their employment with the
General Partner. The General Partner's Board of Directors has elected new
executive officers, each of whom also is an officer of Comcast. As of July 7,
1999, all persons who were employed at the General Partner's former corporate
offices in Englewood, Colorado had terminated their employment with the General
Partner. The General Partner's corporate offices are now located at 1500 Market
Street, Philadelphia, Pennsylvania 19102-2148.
(2) On January 29, 1999, the Partnership sold the Littlerock System to a
subsidiary of the General Partner for $10,720,400. Upon the closing of the sale
of the Littlerock System, the Partnership retained $1,000,000 of the sale
proceeds for a reserve for the administrative expenses of the Partnership,
including expenses that the Partnership may incur related to pending litigation,
repaid all of its indebtedness (including $380,466 in advances from the General
Partner and capital lease obligations of $25,981) and then distributed the net
sale proceeds of $9,985,361 to the Partnership's limited partners of record as
of January 29, 1999. This distribution was made in February 1999. Such
distribution represented approximately $38 for each $500 limited partnership
interest, or $76 for each $1,000 invested in the Partnership. Because the
distributions to the limited partners from the sales of the Broward System, the
Surfside System and the Littlerock System did not return 125 percent of the
capital initially contributed by the limited partners to the Partnership, the
General Partner did not receive a general partner distribution from the
Littlerock System's sale proceeds.
Taking into account the distributions from prior system sales and the
distribution from the sale of the Littlerock System, the limited partners of the
Partnership have received a total of $432 for each $500 limited partnership
interest, or $864 for each $1,000 invested in the Partnership.
5
<PAGE>
Although the sale of the Littlerock System represented the sale of the only
remaining cable television system of the Partnership, the Partnership will not
be dissolved until after all pending litigation relating to the Partnership is
finally resolved and terminated. (See Part II, Item I).
(3) The General Partner manages the Partnership and received a fee for its
services equal to 5 percent of the gross revenues of the Partnership, excluding
revenues from the sale of cable television systems or franchises. The General
Partner has not received and will not receive a management fee after January 29,
1999. Management fees paid to the General Partner by the Partnership and the
Venture for the three month periods ended September 30, 1999 and 1998 were $-0-
and $33,227, respectively. Management fees paid to the General Partner by the
Partnership and the Venture for the nine month periods ended September 30, 1999
and 1998 were $11,854 and $741,184, respectively.
The Partnership will continue to reimburse the General Partner for certain
administrative expenses. These expenses represent the salaries and related
benefits paid for corporate personnel. Such personnel provide administrative,
accounting, tax, legal and investor relations services to the Partnership. Such
services, and their related costs, are necessary to the administration of the
Partnership until the Partnership is dissolved. Such costs were charged to
operating costs during the periods that the Partnership operated its cable
television systems. Subsequent to the sale of the Partnership's final cable
television system, such costs were charged to other expense. Reimbursements made
to the General Partner by the Partnership and the Venture for overhead and
administrative expenses for the three month periods ended September 30, 1999 and
1998 were $19,410 and $40,910, respectively. Reimbursements made to the General
Partner by the Partnership and the Venture for overhead and administrative
expenses for the nine month periods ended September 30, 1999 and 1998 were
$69,970 and $865,640, respectively.
6
<PAGE>
CABLE TV FUND 14-B, LTD.
------------------------
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
---------------------------------------------------------------
RESULTS OF OPERATIONS
---------------------
FINANCIAL CONDITION
- -------------------
The Partnership owned the Littlerock System until its sale on January 29,
1999 and the Surfside System until its sale on June 30, 1998. The Partnership
also owned a 73 percent interest in the Venture until its liquidation and
dissolution in October 1998. The accompanying financial statements historically
include 100 percent of the accounts of the Partnership and those of the Venture,
reduced by the 27 percent minority interest in the Venture owned by Fund 14-A.
On January 29, 1999, the Partnership sold the Littlerock System to a
subsidiary of the General Partner for $10,720,400. Upon the closing of the sale
of the Littlerock System, the Partnership retained $1,000,000 of the sale
proceeds for a reserve for the administrative expenses of the Partnership,
including expenses that the Partnership may incur related to pending litigation,
repaid all of its indebtedness (including $380,466 in advances from the General
Partner and capital lease obligations of $25,981) and then distributed the net
sale proceeds of $9,985,361 to the Partnership's limited partners of record as
of January 29, 1999. This distribution was made in February 1999. Such
distribution represented approximately $38 for each $500 limited partnership
interest, or $76 for each $1,000 invested in the Partnership. Because the
distributions to the limited partners from the sales of the Broward System, the
Surfside System and the Littlerock System did not return 125 percent of the
capital initially contributed by the limited partners to the Partnership, the
General Partner did not receive a general partner distribution from the
Littlerock System's sale proceeds.
Taking into account the distributions from prior system sales and the
distribution from the sale of the Littlerock System, the limited partners of the
Partnership have received a total of $432 for each $500 limited partnership
interest, or $864 for each $1,000 invested in the Partnership.
Although the sale of the Littlerock System represented the sale of the only
remaining cable television system of the Partnership, the Partnership will not
be dissolved until after all pending litigation relating to the Partnership is
finally resolved and terminated. (See Part II, Item I).
Because the Partnership has sold all of its assets and no further
distributions are expected to be made, transfers of limited partnership
interests would have no economic or practical value. The General Partner
therefore has determined, in accordance with the authority granted to it under
Section 3.5 of the Partnership's limited partnership agreement, that it will not
process any transfers of limited partnership interests in the Partnership during
the remainder of the Partnership's term.
RESULTS OF OPERATIONS
- ---------------------
Due to the Littlerock System sale on January 29, 1999, which was the
Partnership's last remaining operating asset, a full discussion of the results
of operations would not be meaningful. For the period ended September 30, 1999,
the Partnership had total revenues of $237,069 and generated operating income of
$19,245. Other expenses of $588,334 and $2,583,375 incurred during the first
nine months of 1999 and 1998, respectively, primarily related to various costs
associated with the sales of the Partnership's and Venture's systems and the
administration of the Partnership. Because of the gain of $5,492,858 on the sale
of the Littlerock System, the Partnership realized net income of $4,919,070, or
$18.81 per limited partnership unit, for the nine months ended September 30,
1999.
7
<PAGE>
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
In June 1999, the General Partner was named a defendant in a case
captioned City Partnership Co., derivatively on behalf of Cable TV Fund 14-B,
-------------------------------------------------------------------
Ltd., plaintiff v. Jones Intercable, Inc., defendant and Cable TV Fund 14-B,
- ----------------------------------------------------------------------------
Ltd., nominal defendant (U.S. District Court, District of Colorado, Civil Action
- -----------------------
No. 99-WM-1051) brought by City Partnership Co., a limited partner of Cable TV
Fund 14-B, Ltd. ("Fund 14-B"). The plaintiff's complaint alleges that the
General Partner breached its fiduciary duty to the plaintiff and to the other
limited partners of Fund 14-B in connection with Fund 14-B's sale of the
Littlerock, California cable television system (the "Littlerock System") to a
subsidiary of the General Partner in January 1999. The complaint alleges that
the General Partner acquired the Littlerock System at an unfairly low price that
did not accurately reflect the market value of the Littlerock System. The
plaintiff also alleges that the proxy solicitation materials delivered to the
limited partners of Fund 14-B in connection with the vote of the limited
partners on Fund 14-B's sale of the Littlerock System contained inadequate and
misleading information concerning the state of the market for cable systems and
the fairness of the transaction, which the plaintiff claims caused the General
Partner to breach its fiduciary duty of candor to the limited partners and which
the plaintiff claims constituted acts and omissions in violation of Section
14(a) of the Securities Exchange Act of 1934, as amended. Plaintiff also claims
that the General Partner breached the contractual provision of Fund 14-B's
limited partnership agreement requiring that the sale price be determined by the
average of three separate, independent appraisals, challenging both the
independence and the currency of the appraisals. The complaint finally seeks
declaratory injunctive relief to prevent the General Partner from making use of
Fund 14-B's funds to finance the General Partner's defense of this litigation.
The General Partner has filed motions to dismiss certain of the plaintiff's
claims for relief. The General Partner believes that the procedures followed by
it in conducting the vote of the limited partners of Fund 14-B on the sale of
the Littlerock System, including the fairness opinion in the proxy statement
delivered to the limited partners of Fund 14-B, were proper and that Fund 14-B's
sale of the Littlerock System at a price determined by averaging three separate,
independent appraisals was in accordance with the express provisions of Fund 14-
B's limited partnership agreement. The General Partner intends to defend this
lawsuit vigorously.
In August 1999, the General Partner was named a defendant in a case
captioned Gramercy Park Investments, LP, Cobble Hill Investments, LP and
--------------------------------------------------------------
Madison/AG Partnership Value Partners II, plaintiffs v. Jones Intercable, Inc.
- ------------------------------------------------------------------------------
and Glenn R. Jones, defendants, and Cable TV Fund 12-B, Ltd., Cable TV Fund 12-
- -------------------------------------------------------------------------------
C, Ltd., Cable TV Fund 12-D, Ltd., Cable TV Fund 14-A, Ltd. and Cable TV Fund
- -----------------------------------------------------------------------------
14-B, Ltd., nominal defendants (U.S. District Court, District of Colorado, Civil
- ------------------------------
Action No. 99-B-1508)("Gramercy Park") brought as a class and derivative action
by limited partners of the named partnerships. The plaintiffs' complaint alleges
that the defendants made false and misleading statements to the limited partners
of the named partnerships in connection with the solicitation of proxies and the
votes of the limited partners on the sales of the Albuquerque, Palmdale,
Littlerock and Calvert County cable communication systems by the named
partnerships to the General Partner or one of its subsidiaries in violation of
Sections 14 and 20 of the Securities Exchange Act of 1934, as amended. The
plaintiffs specifically allege that the proxy statements delivered to the
limited partners in connection with the limited partners' votes on these sales
were false, misleading and failed to disclose material facts necessary to make
the statements made not misleading. The plaintiffs' complaint also alleges that
the defendants breached their fiduciary duties to the plaintiffs and to the
other limited partners of the named partnerships and to the named partnerships
in connection with the various sales of the Albuquerque, Palmdale, Littlerock
and Calvert County cable communications systems to subsidiaries of the General
Partner. The complaint alleges that the General Partner acquired these cable
communications systems at unfairly low prices that did not accurately reflect
the market values of the systems. The plaintiffs seek on their own behalf and on
behalf of all other limited partners compensatory and nominal damages, the costs
and expenses of the litigation, including reasonable attorneys' and experts'
fees, and punitive and exemplary damages.
In August 1999, the General Partner was named a defendant in a case
captioned William Barzler, plaintiff v. Jones Intercable, Inc. and Glenn R.
-----------------------------------------------------------------
Jones, defendants and Cable TV Fund 14-B, Ltd., nominal defendant (U.S. District
- -----------------------------------------------------------------
Court, District of Colorado, Civil Action No. 99-B-1604)("Barzler") brought as a
class and derivative action by a limited partner of the named partnership. The
substance of the plaintiff's complaint is similar to the allegations raised in
the Gramercy Park case except that it relates only to the sale of the Littlerock
cable communications system by Fund 14-B.
8
<PAGE>
In September 1999, the General Partner was named a defendant in a case
captioned Sheryle Trainer, plaintiff v. Jones Intercable, Inc. and Glenn R.
-----------------------------------------------------------------
Jones, defendants, and Cable TV Fund 14-B, Ltd., nominal defendant (U.S.
- ------------------------------------------------------------------
District Court, District of Colorado, Civil Action No. 99-B-1751)("Trainer")
brought as a class and derivative action by a limited partner of the named
partnership. The substance of the plaintiff's complaint is similar to the
allegations raised in the Gramercy Park case except that it relates only to the
sale of the Littlerock cable communications system by Fund 14-B.
In September 1999, the General Partner was named a defendant in a case
captioned Mary Schumacher, Charles McKenzie and Geraldine Lucas, plaintiffs v.
--------------------------------------------------------------------
Jones Intercable, Inc. and Glenn R. Jones, defendants and Cable TV Fund 12-B,
- -----------------------------------------------------------------------------
Ltd., Cable TV Fund 12-C, Ltd., Cable TV Fund 12-D, Ltd., Cable TV Fund 14-A,
- -----------------------------------------------------------------------------
Ltd. and Cable TV Fund 14-B, Ltd., nominal defendants (U.S. District Court,
- -----------------------------------------------------
District of Colorado, Civil Action No. 99-WM-1702)("Schumacher") brought as a
class and derivative action by three limited partners of the named partnerships.
The substance of the plaintiffs' complaint is similar to the allegations raised
in the Gramercy Park case.
In September 1999, the General Partner was named a defendant in a case
captioned Robert Margolin, Henry Wahlgren and Joan Wahlgren, plaintiffs v. Jones
----------------------------------------------------------------------
Intercable, Inc. and Glenn R. Jones, defendants and Cable TV Fund 12-B, Ltd.,
- -----------------------------------------------------------------------------
Cable TV Fund 12-C, Ltd., Cable TV Fund 12-D, Ltd., Cable TV Fund 14-A, Ltd. and
- --------------------------------------------------------------------------------
Cable TV Fund 14-B, Ltd., nominal defendants (U.S. District Court, District of
- --------------------------------------------
Colorado, Civil Action No. 99-B-1778)("Margolin") brought as a class and
derivative action by three limited partners of the named partnerships. The
substance of the plaintiffs' complaint is similar to the allegations raised in
the Gramercy Park case.
The General Partner believes that the procedures followed by it in
conducting the votes of the limited partners of the various partnerships on the
sales of the Albuquerque, Palmdale, Littlerock and Calvert County systems and
the disclosures in the proxy statements delivered to the limited partners in
connection with the limited partners' votes on these sales were proper and
complete, and the General Partner believes that the various sale transactions
were fair because they were at prices determined by averaging three separate,
independent appraisals of the various cable communications systems sold in
accordance with the express provisions of the partnerships' limited partnership
agreements. The General Partner intends to defend these lawsuits vigorously.
In September 1999, the General Partner filed a motion in the United States
District Court for the District of Colorado seeking an order consolidating all
of the cases challenging the General Partner's acquisitions of the Albuquerque,
Palmdale, Littlerock and Calvert County systems because these cases involve
common questions of law and fact. A court-mandated settlement conference
relating to all of these cases filed in United States District Court for the
District of Colorado occurred November 2, 1999 and another such meeting has been
scheduled for March 14, 2000.
Item 6. Exhibits and Reports on Form 8-K
a) Exhibits
27) Financial Data Schedule
b) Reports on Form 8-K
None
9
<PAGE>
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.
CABLE TV FUND 14-B, LTD.
BY: JONES INTERCABLE, INC.
General Partner
By: /S/ Lawrence S. Smith
------------------------------------
Lawrence S. Smith
Principal Accounting Officer
By: /S/ Joseph J. Euteneuer
------------------------------------
Joseph J. Euteneuer
Vice President (Authorized Officer)
Dated: November 12, 1999
10
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> SEP-30-1999
<CASH> 747,791
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 747,791
<CURRENT-LIABILITIES> 148,226
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 599,565
<TOTAL-LIABILITY-AND-EQUITY> 747,791
<SALES> 0
<TOTAL-REVENUES> 237,069
<CGS> 0
<TOTAL-COSTS> 217,824
<OTHER-EXPENSES> (4,904,524)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 4,699
<INCOME-PRETAX> 4,919,070
<INCOME-TAX> 0
<INCOME-CONTINUING> 4,919,070
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 4,919,070
<EPS-BASIC> 18.81
<EPS-DILUTED> 18.81
</TABLE>
