Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: DiViT who wrote (38791)	2/3/1999 4:20:00 PM
From: Peter V	Read Replies (1) \| Respond to of 50808

But this particular dog causes its owners to foam at the mouth, rather than the dog itself.

To: DiViT who wrote (38791)	2/4/1999 1:01:00 PM
From: DiViT	Respond to of 50808

Telewest to launch digital cable TV in Q4 1999; 1998 TV penetration up 1.9 pts 02/04/99 AFX News (c) 1999 by AFP-Extel News Ltd LONDON (AFX) - Telewest Communications PLC said it will be ready to start customer trials of digital cable television services by mid-summer and intends to launch its digital product during the fourth quarter of this year. Telewest has reached agreement with Pace Micro Technology PLC for the supply of an initial 100,000 set top boxes and with NCI (Network Computer Inc) for a software platform, to support the launch of digital television services. Cable television churn for the year to Dec 31 1998 was down 5 percentage points to 29.5 pct, on a proforma basis following the merger with General Cable and the acquisition of the remainder of Birmingham Cable. Television penetration was up 1.9 percentage points to 23.8 pct on the same proforma basis. Television customers were up 13.4 pct to 952,175. The company said residential phone churn for the year to Dec 1998 was up 0.4 percentage points to 21.1 pct, with residential phone penetration up 1.7 points to 30.5 pct. Customers were up 10.5 pct to 1.213 mln. Business phone lines were up 30 pct to 215,349. Customers were up 23.1 pct to 42,296 and average lines per customer were up 5.6 pct to 5.1. Chief executive Tony Illsley said: " Telewest has had a good 1998, and the growth momentum has built through the year." On financing, he said: "Now that we have completed the acquisition of General Cable and Birmingham Cable, we are also exploring bringing together and restructuring the financing facilities the three organisations historically have had in place." Telewest intends to begin an offering of sterling-denominated Senior Convertible Notes due 2007 to raise about 250 mln stg. The proceeds of the offering will initially be applied to reduce amounts drawn under the company's credit facilities. Telewest 's major corporate shareholders, MediaOne Group Inc and Tele-Communications Inc (TINTA), who in aggregate hold 50.1 pct of the company's issued ordinary shares, already have certain rights contained in a relationship agreement designed to enable them to protect their holdings from dilution as a result of non pre-emptive issues of equity by the company. Telewest has agreed to propose resolutions at the next AGM that would permit MediaOne and TINTA, following conversions of the convertible notes, to subscribe from time to time additional shares in the company to maintain their combined holdings above 50.1 pct of the issued share capital of Telewest . MediaOne and TINTA have agreed that if reasonably practicable they would first attempt to maintain their majority holding by purchasing outstanding shares in the secondary markets, Telewest said. David Van Valkenburg, who has served as group operating officer, will shortly hand over his executive responsibilities and will in due course retire from the Telewest board to join the MediaOne group.