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JONES INTERCABLE FINALIZES WISCONSIN CABLE SYSTEMS TRANSACTIONS

 JONES INTERCABLE FINALIZES
 WISCONSIN CABLE SYSTEMS TRANSACTIONS
 ENGLEWOOD, Colo., Dec. 20 /PRNewswire/ -- Jones Intercable, Inc. (NASDAQ: JOIN) has announced that it has completed the sale of its Onalaska, Wis. cable system to Crown Cable Wisconsin, Inc., an affiliate of Hallmark Cards, Inc., and has liquidated its 20 percent interest in Jones Crown Partners, a joint venture between the company and Crown which owns ten cable systems in Wisconsin.
 The $55 million transaction will result in Crown Media, Inc., through its affiliates, owning the Onalaska cable system, representing approximately 10,100 equivalent basic subscribers, and owning 100 percent of the Jones Crown Partners systems, representing approximately 170,000 equivalent basic subscribers.
 Jones Intercable said that it expects to recognize a gain, before income taxes, of $29.8 million, or $2.48 per share, in fiscal 1992 related to this transaction. Also to be recognized as revenue in fiscal 1992 is $20.7 million, or $1.73 per share, of distribution fees earned by the company as general partner upon the liquidation of the Cable TV Fund 11 partnerships, which were deferred at May 31, 1991.
 "The transaction brings our debt-to-cash flow ratio from 7.43x operating cash flow to 6.48x operating cash flow," said Glenn R. Jones, chief executive officer of Jones Intercable. "By the end of fiscal 1992, we anticipate the company's debt to cash flow ratio to be in the range of 6.0x operating cash flow."
 Areas served by the systems involved in the transaction include the cities and towns of Onalaska, Cedarburg, De Pere, Fitchburg, Hustisford, Janesville, Stevens Point, Waupaca, Wausau, West Allis and Wisconsin Rapids.
 Jones Intercable, Inc. is one of the largest cable television operators in the United States. It is also the world's largest cable television management company, managing cable operations for publicly held entities. It manages cable operations in over 20 states and three countries.
 -0- 12/20/91
 /CONTACT: Jim Carlson or Nancy Reed Long both of Jones Intercable, 303-792-3111/
 (JOIN) CO: Jones Intercable, Inc.; Crown Cable Wisconsin, Inc. ST: Colorado, Wisconsin IN: TLS SU:


BB -- DV004 -- 4503 12/20/91 16:16 EST
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Publication:PR Newswire
Date:Dec 20, 1991
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