September 4, 1997 |
Tele-Communications Inc. and Time Warner Inc. agreed to swap and combine cable systems, involving about 2 million customers, the biggest step yet by the nation's largest cable companies to reduce their debt and boost profits. The series of transactions, which include three joint ventures, would allow Tele-Communications to shift about $3.35 billion of its consolidated debt from its books, and Time Warner would cut its debt by $650 million.
August 14, 1997 |
Seagram Co.'s fiscal fourth-quarter profit, before gains, more than doubled, led by strong performances by its entertainment, juice and spirits businesses. The Montreal-based beverage and entertainment company said profit from operations before a gain rose to $48 million, or 13 cents a share, from profit before a gain of $22 million, or 5 cents, in the year-earlier period. The per-share results matched estimates. . . . Tele-Communications Inc.
July 8, 1997 |
Tele-Communications International Inc. said that it named David Evans president and chief operating officer, effective Sept. 1. The company also said Evans will assume the role of chief executive in 1998. That position is held by Fred Vierra, who will remain the company's vice chairman for an indefinite period. Evans comes to Tele-Communications from Rupert Murdoch's News Corp., where he had been executive vice president since July 1996.
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.