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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): September 17, 1998
COMCAST CORPORATION
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-6983 23-1709202
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(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification no.)
1500 Market Street, Philadelphia, PA 19102
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (215) 665-1700
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ITEM 5. OTHER EVENTS
In September 1998, Comcast Corporation ("Comcast") determined that it would
contribute, via a capital contribution to its wholly owned subsidiary, Comcast
Cable Communications, Inc. ("Comcast Cable"), all of the shares in Jones
Intercable, Inc. ("Jones Intercable") to be acquired by Comcast from BCI Telecom
Holding and affiliates of Glenn R. Jones (the "Jones Acquisition") in
transactions previously announced by Comcast. The shares to be acquired consist
of an aggregate of approximately 12.8 million shares of Jones Intercable Class A
Common Stock and approximately 2.9 million shares of Jones Intercable Common
Stock (the "Common Stock"), representing approximately 37% of the economic and
47% of the voting interest in Jones Intercable. In addition, the approximately
2.9 million shares of Common Stock will represent approximately 57% of the
outstanding Common Stock which class of stock elects 75% of the Board of
Directors of Jones Intercable.
The contribution, which is subject to the receipt of required regulatory and
other approvals, will be effective immediately following closing of the Jones
Acquisition, which is expected to occur in the first quarter of 1999. As a
result, Jones Intercable will become a consolidated public-company subsidiary of
Comcast Cable.
SIGNATURE
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.
COMCAST CORPORATION
Dated: September 17, 1998 By: /s/ Arthur R. Block
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Arthur R. Block
Vice President and
Senior Deputy General Counsel
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