TCI TO SPIN OFF SATELLITE FIRM INTO SEPARATE ENTITY.Byline: Geraldine The feminine form of the first name Gerald. Famous women named Geraldine include:
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times Tele-Communications Inc., the nation's largest cable operator, said Wednesday Wednesday: see week. that it would spin off TCI (Trustworthy Computing Initiative) An umbrella term from Microsoft for its efforts to improve security in Windows. TCI was announced in 2002 after viruses such as Code Red and Nimda had succeeded in attacking numerous Windows computers. Satellite Entertainment Inc., its direct-to-home satellite business, into a separately traded company. Tele-Communications' current shareholders will own shares in the new company in the same proportion as their current stakes in Tele-Communications. The announcement follows the Tele-Communications strategy of spinning off assets that the company believes are undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. in hopes that they will perform better as independent companies. The new company will own a 20.9 percent interest in the satellite company Primestar Partners, a joint venture of several cable operators. The new company will also own Tele-Communications' two satellites. It also will own 100 percent of Primestar by TCI, the marketing arm of Tele-Communications' stake in Primestar. Tele-Communications created Liberty Media by putting all of Tele-Communications' programming businesses in an independent company. Then it spun off 20 percent of its foreign cable businesses in Japan and Argentina into Tele-Communications International, also an independently traded stock. Tele-Communications International went public at $16 a share in July 1995 and closed Wednesday at $17.625, down 12.5 cents. Liberty Media, which went public at about $22, closed Wednesday at $28.125, up 87.5 cents. |
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