May 1, 1997 |
Tele-Communications Inc. said Wednesday that its improved financial performance would allow it to accelerate the roll-out of new services to its cable customers this year.
April 10, 1997 |
Tele-Communications Inc., the nation's largest cable operator, abandoned plans Wednesday to split itself up after the Internal Revenue Service declined to rule the transaction tax-free. The Englewood, Colo.-based firm announced in December that it would spin off its Liberty Media programming arm and international and satellite services businesses to simplify its structure and unlock the value of those affiliates. TCI needed IRS approval of the spinoffs as tax-free transactions to proceed.
March 5, 1997 |
Tele-Communications Inc. plans to divide its cable TV operations into as many as 12 regional units and possibly bring in regional partners or create joint ventures. The moves end a 2-month-old plan to divide the company's cable TV operations into three units based on type of service and will bring management closer to key markets, President Leo Hindery said Monday at a Merrill Lynch & Co. meeting in New York. "Regionalization is the way to go," said Jay Nelson, an analyst at Brown Bros.
February 8, 1997 |
Leo J. Hindery Jr., general partner and chief executive of InterMedia Partners, was named president of Tele-Communications Inc., the nation's largest cable TV operator. John Malone, chairman, CEO and current president of TCI, said the chief executive of each TCI business unit would report to Hindery. Malone had been expected to bring in a respected cable executive in an effort to restore the profitability of the Englewood, Colo.-based company.
February 5, 1997 |
You know how it is up there on the throne of clouds occupied by the very high and mighty of communications. These giant corporations get so preoccupied with lofty interests that they haven't time to stay in touch and bother with the wee folk on the ground whom their business decisions affect.
January 23, 1997 |
Buckling to consumer pressure, Tele-Communications Inc. has agreed to reinstate two music channels to several of its major cable systems after knocking them off this month, along with other channels it claimed had weak ratings. The two music channels, Viacom's VH-1 and MTV, are the latest services to be reinstated by TCI in response to public outcry at their removal.
December 13, 1996 |
John Malone, chairman of cable giant Tele-Communications Inc., told an industry gathering in Anaheim that cable companies should brave bad publicity and push ahead with rate increases that are crucial to long-term viability. "For us to be shy about rate increases is foolish," said Malone, whose company lost thousands of subscribers this summer when it raised rates 13% in the wake of federal deregulation. "The cable industry has the lowest returns on invested capital of any business in America.
November 22, 1996 |
Reflecting the growing competition for channel space, Tele-Communications Inc. said Thursday that it will reduce coverage on its systems of several channels--including E! Entertainment Television, Comedy Channel, VH1 and two superstations--to make room for growing networks such as the Cartoon Network, Home and Garden and Discovery's Animal Planet and Learning channels.
November 18, 1996 |
Bob Magness, who ran a tiny cable television company out of his kitchen before building Tele-Communications Inc. into the nation's largest cable provider, has died of cancer. He was 72. Magness, a billionaire listed by Forbes Magazine as Colorado's second-richest businessman, died at a Charlottesville, Va., hospital Friday. He had been undergoing chemotherapy treatment for lymphoma.
October 25, 1996 |
Nervous investors for weeks have been bailing out of the stock and bonds of Tele-Communications Inc., and on Thursday they drove its share price to a low not seen since the government capped cable rates in 1992 and constricted the industry's growth. And some traders say the situation could get worse, meaning that TCI will have to spend more money on future borrowing, drawing cash away from new businesses that are considered a key to fending off competitors.