THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Friday, November 18, 1994 TAG: 9411180435
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: (Bloomberg Business News/Staff)
LENGTH: Short : 25 lines
Tele-Communications Inc., the nation's largest cable-TV operator and programmer, is proposing to split into four publicly traded companies in a move to boost the stock market value of its sprawling assets. If the plan is approved by shareholders, TCI would become a holding company for a cable-TV and telephone concern, a programming company, an international cable and programming business, and a venture-capital arm. Based on estimated 1995 cash flow, TCI is worth as much as $45 a share, or $28 billion. But TCI's stock has languished in the mid-$20s lately. TCI's plan met with an ``enthused'' response from major shareholders of TeleCable Corp., a Norfolk-based cable operator that is in the midst of a $1.5 billion buyout by TCI, a TeleCable spokesman said Thursday. The TCI-TeleCable deal is expected to be finalized in January. by CNB