CABLE FIRM SALE PUTS LEGEND IN LIMELIGHT.Byline: Charles Stein
He is considered the George Washington of cable television, one of the founding fathers. Like Washington, he has a reputation for decency in a business not known for virtuous behavior. And, with his decision Tuesday to sell his company, Amos Hostetter found himself in a position he has worked hard to avoid - the spotlight. For a billionaire who runs America's third largest cable company, Continental Cablevision, Hostetter has managed to keep his name out of the news. "He never toots toots n. Slang Babe; sweetie. [Perhaps short for tootsie.] his own horn," said Brian Lamb Brian Patrick Lamb (born October 9, 1941) helped found the C-SPAN television network in the United States in 1979, and has been its chief executive officer since its founding. , chief executive of C-Span, the Washington public affairs Those public information, command information, and community relations activities directed toward both the external and internal publics with interest in the Department of Defense. Also called PA. See also command information; community relations; public information. channel. Hostetter is not a household name in the business community or in Boston, where he lives and works. In the cable world, however, he is something of a legend. Continental today has more than 4 million subscribers. The company has been a leader in cable technology and, despite the early underestimation of cable's future, Hostetter has earned a reputation as something of a visionary. In an interview with a trade publication last year, he said, "If we think of our business as just the cable business, we're going to lose. We've got to think in a much broader context." Industry colleagues routinely refer to him as an elder statesman, although he is only 59 years old. He has been president of the industry's trade association and has testified before Congress frequently on regulatory matters. Hostetter was one of the early champions of C-Span, a nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. operation that provides round-the-clock coverage of events in Washington. He was also the founding chairman of Cable in the Classroom, an industry initiative to provide equipment and programming to schools, free of charge. Friends say Hostetter lives well but not extravagantly for one of America's richest men. His stake in Continental on Tuesday was worth about $1.6 billion. CAPTION(S): PHOTO Photo (Color) CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Charles Lillis, left, of U.S. West Media Group and Amos Hostetter Jr. announce Tuesday sale of the cable firm. Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. |
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