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Non-Tech : Comcast Corporation (CMCSA)

CMCSA 27.68

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To: NewsTrader who wrote (21)	9/4/1998 5:51:00 PM
From: David C. Burns	Read Replies (1) of 189

Comcast speeds Jones Intercable purchase Comcast Corp., Philadelphia, said yesterday that it will immediately buy a controlling stake in Jones Intercable Inc. from BCE Inc., rather than buy the stake in increments as it had announced in May. Comcast had said it would buy a 37 percent stake in Jones Intercable from BCE and would have an option to buy additional shares held by Jones Intercable chairman Glenn Jones, representing 57 percent of the stock class that elects a majority of Jones Intercable's board. The purchase by Comcast is expected to occur in the first quarter of 1999. Comcast also is buying about $1 million of equipment from Cisco Systems Inc. to connect subscribers to the Internet at high speeds. The No. 4 cable operator is using Cisco products in its Richmond, Va., service area and plans to install it in Atlanta; Orange County, Calif.; and parts of Michigan, said Richard Rasmus, vice president of Comcast Online, the company's Internet unit. Source: Philadelphia Bulletin, 8/13/98

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