<PAGE>
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) JANUARY 23, 1997
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INTERNATIONAL CABLETEL INCORPORATED
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-22616 52-1822078
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(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
110 East 59th Street, New York, New York 10022
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including area code (212) 371-3714
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_______________________________________________________________________________
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5. Other Events.
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On January 23, 1997, the Company announced its preliminary operating
statistics for the year ended December 31, 1996.
CableTel's operating performance continues to exceed estimated industry
averages. As of December 31, 1996:
Residential telephone penetration increased to 32.0%
Residential cable television penetration increased to 32.6%
Combined penetration ("RGU" penetration) increased to 64.6%
Annualized RGU churn was approximately 10% in the fourth quarter
As of December 31, CableTel had over 168,000 customers subscribing to over
302,000 services. Approximately 36% of all residences marketed by the company
are taking at least one service and over 79% of those customers are taking both
services. The Company has now marketed services to approximately 60% of the
homes passed by its new networks, up from approximately 38% at end of 1995.
CableTel has now constructed its new dual service network past approximately
779,100 homes in its franchise areas, representing approximately 37% of its
nearly 2.1 million total homes.
<TABLE>
<CAPTION>
NEWLY CONSTRUCTED DUAL NETWORK
December 31 1996 September 30 June 30 March 31 December 31
1996 1996* 1996 1995
---------------- ------------ ------- -------- -----------
<S> <C> <C> <C> <C> <C>
Homes passed (1) 779,100 694,400 611,300 516,000 463,000
Homes marketed 467,300 390,800 311,500 249,500 176,200
Total customers 168,200 135,300 107,100 81,860 57,700
Dual 133,800 105,155 80,100 62,440 44,630
Cable-only 18,450 15,600 13,700 9,750 6,620
Telephone-only 15,950 14,545 13,300 9,670 6,450
Total RGUs (2) 302,000 240,455 187,200 144,300 102,300
RGU penetration 64.6% 61.5% 60.1% 57.8% 58.1%
Cable penetration 32.6% 30.9% 30.1% 28.9% 29.1%
Telephone penetration 32.0% 30.6% 30.0% 28.9% 29.0%
</TABLE>
(1) "Homes passed" is the expression in common usage as the measurement of the
size of a cabled area, meaning the total number of residential premises
which currently have the potential to be connected to the Company's
network. Homes passed does not include approximately 100,000 cable-only
homes which are included in the Company's homes passed that count toward
its OFTEL milestones.
<PAGE>
(2) An RGU (revenue generating unit) is one cable television account or one
telephone account; thus, a dual customer counts as two RGU's.
* June 30, 1996 data has been restated to reflect current period
presentation.
A copy of the press release issued by the Company announcing the above
is attached hereto as an exhibit and incorporated herein by reference.
Item 7. Financial Statements and Exhibits
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Exhibits
99 Press Release issued January 23, 1997.
<PAGE>
SIGNATURES
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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.
INTERNATIONAL CABLETEL INCORPORATED
(Registrant)
By: /s/ Richard J. Lubasch
--------------------------------------------
Name: Richard J. Lubasch
Title: Senior Vice President-General Counsel
Dated: January 23, 1997
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EXHIBIT INDEX
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Exhibit Page
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99 Press Release issued January 23, 1997.
<PAGE>
EXHIBIT 99
[LETTERHEAD OF INTERNATIONAL CABLETEL INCORPORATED APPEARS HERE]
FOR IMMEDIATE RELEASE
INTERNATIONAL CABLETEL INCORPORATED ANNOUNCES
PRELIMINARY OPERATING STATISTICS FOR 1996
-----------------------------------------
New York, New York (January 23, 1997) -- INTERNATIONAL CABLETEL INCORPORATED
(NASDAQ: ICTL) ("CableTel" or the "Company") announced today its preliminary
operating statistics for the year ended December 31, 1996.
CableTel's operating performance continues to exceed estimated industry
averages. As of December 31, 1996:
Residential telephone penetration increased to 32.0%
Residential cable television penetration increased to 32.6%
Combined penetration ("RGU" penetration) increased to 64.6%
Annualized RGU churn was approximately 10% in the fourth quarter
As of December 31, CableTel had over 168,000 customers subscribing to over
302,000 services. Approximately 36% of all residences marketed by the company
are taking at least one service and over 79% of those customers are taking both
services. The Company has now marketed services to approximately 60% of the
homes passed by its new networks, up from approximately 38% at end of 1995.
CableTel has now constructed its new dual service network past approximately
779,100 homes in its franchise areas, representing approximately 37% of its
nearly 2.1 million total homes.
<TABLE>
<CAPTION>
NEWLY CONSTRUCTED DUAL NETWORK
December 31 1996 September 30 June 30 March 31 December 31
1996 1996* 1996 1995
---------------- ------------ ------- -------- -----------
<S> <C> <C> <C> <C> <C>
Homes passed (1) 779,100 694,400 611,300 516,000 463,000
Homes marketed 467,300 390,800 311,500 249,500 176,200
Total customers 168,200 135,300 107,100 81,860 57,700
Dual 133,800 105,155 80,100 62,440 44,630
Cable-only 18,450 15,600 13,700 9,750 6,620
Telephone-only 15,950 14,545 13,300 9,670 6,450
Total RGUs (2) 302,000 240,455 187,200 144,300 102,300
RGU penetration 64.6% 61.5% 60.1% 57.8% 58.1%
Cable penetration 32.6% 30.9% 30.1% 28.9% 29.1%
Telephone penetration 32.0% 30.6% 30.0% 28.9% 29.0%
</TABLE>
<PAGE>
International CableTel Incorporated
January 23, 1997
Page Two
(1) "Homes passed" is the expression in common usage as the measurement of the
size of a cabled area, meaning the total number of residential premises
which currently have the potential to be connected to the Company's
network. Homes passed does not include approximately 100,000 cable-only
homes which are included in the Company's homes passed that count toward
its OFTEL milestones.
(2) An RGU (revenue generating unit) is one cable television account or one
telephone account; thus, a dual customer counts as two RGU's.
* June 30, 1996 data has been restated to reflect current period
presentation.
In October, the Company announced a new organizational structure integrating
CableTel, and its local telephone, cable television and internet businesses with
NTL, and its national telecommunications and television transmission businesses.
Five major business divisions were created for the combined CableTel/NTL: Local
Telecom and Television Services, National Telecoms Services, Internet and
Information Services, Broadcast Services, and National Media Services.
*****
For further information contact: Michael A. Peterson, Director-Corporate
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Development or Richard J. Lubasch, Senior Vice President-General Counsel at
(212) 371-3714.
