January 10, 1998 |
Sun Microsystems Inc. outflanked archrival Microsoft Corp. on Friday, as Sun announced that its Java software will be installed on millions of set-top boxes purchased by Tele-Communications Inc., the nation's largest cable television company. The deal gives Sun a lucrative portal into the nation's living rooms, as its software will now be a key to delivering a new breed of interactive services via television, including e-mail, personalized news, online banking and home shopping.
November 15, 1997 |
Tele-Communications Inc. said its third-quarter loss narrowed amid a wave of cost reductions and a renewed focus on its U.S. cable business. The improved performance comes as Englewood, Colo.-based TCI pushes its expansion into delivering other services besides television. The world's largest operator of cable-television systems had a loss of $22 million, or 33 cents a share, narrower than the loss of $138 million, or 25 cents, a year ago.
October 15, 1997 |
Software billionaire Bill Gates and cable mogul John C. Malone are negotiating a wide-ranging deal that would bring about the broadest convergence yet of Silicon Valley and the television industry, potentially enabling consumers to surf the Internet and check their e-mail on a television set equipped with 200 or more digital cable channels. Under the deal, Gates' Microsoft Corp. would provide Malone's Tele-Communications Inc.
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.
August 5, 1997 |
Tele-Communications Inc. Chairman John Malone borrowed money from NationsBank of Texas to buy 7.28 million shares of TCI from Knight-Ridder Inc. In a Securities and Exchange Commission filing, Malone said he bought the shares from Knight-Ridder for $110.07 million, or $15.11 a share. To acquire the funds needed for the purchase, he pledged as collateral 11.5 million TCI Class B common shares and 3.08 million Class B shares of Liberty Media Group, the cable company's programming unit.
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.
June 26, 1997 |
In another step toward shedding far-flung cable systems, Tele-Communications Inc. has agreed to give up 310,000 subscribers to Falcon Holdings Group in exchange for a 40% equity stake in the Los Angeles-based company. But unlike similar deals planned and announced by TCI, Falcon will not assume any debt in the deal, which is estimated to be worth about $600 million.
June 18, 1997 |
John Malone, head of Tele-Communications Inc., cut a deal Tuesday to keep control of the nation's biggest cable company while allowing the estate of its founder to cash out. TCI said it will exchange Class B shares owned by the estate of Bob Magness--which have special voting power--for normal Class A shares. That keeps the voting power within TCI while allowing the estate to sell its shares. Merrill Lynch and Lehman Bros. then will buy Magness' Class A shares for $16.52 each.
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.