Jones Intercable Business History and Timeline

Jones Intercable was founded in 1976 by Robert Jones, who initially started the company as a small cable television provider in Pittsburgh, Pennsylvania.

The company's early success can be attributed to its innovative approach to cable television, which included offering a range of channels and services that catered to local tastes and preferences.

Jones Intercable went on to expand its operations, acquiring several smaller cable providers in the region, and eventually grew to become one of the largest cable television companies in the United States.

Throughout its history, Jones Intercable remained committed to providing high-quality services to its customers, investing heavily in infrastructure and technology to ensure reliable and efficient delivery of television programming and other services.

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Jones Intercable was founded in 1970 by Glenn R. Jones, a cable television veteran who started with a $400 loan on his Volkswagen to buy his first cable system in Georgetown, Colorado.

The company's early years were marked by significant growth, with Jones Intercable purchasing Broward Cablevision for $95 million in 1988, expanding its service into Broward County, Florida.

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Jones Intercable changed hands in 1986 when the ownership of Jones Intercable of Tampa was transferred to Cable TV Fund 12-BCD Venture, a company that took over the former Tampa Cable operations.

In 1988, Jones Intercable faced a potential sale, as the limited partnership that had owned it for more than five years was dissolving, allowing investors to cash out.

In May 1998, Comcast purchased stock from Jones Intercable, giving it rights to acquire control of 1.4 million subscribers.

Comcast took full control of Jones Intercable in a deal valued at around $3 billion in 1999, after purchasing nearly a million Class-A shares of the company's stock.

Glenn Jones, the founder of Jones Intercable, began his career in cable television in 1961, representing cable companies in their acquisition efforts across the country.

Jones Intercable pioneered more than a dozen industry firsts and grew to become one of the ten largest cable television operators in the United States, serving over 1.5 million customers nationwide.

In the early 1990s, Jones Intercable was expanding rapidly, serving 40,000 customers in nine communities, most of them in western Du Page County.

By 1994, the company had 1.4 million subscribers and was broadcasting in several areas, including Antelope Valley, California, and Georgia. In 1995, Jones Intercable launched a $35 million cable television system in Alexandria, Virginia, which was considered an important milestone in the industry.

This new system featured a "self-healing" function to eliminate cable outages and expanded from 53 analog channels to 87. By 1996, Jones Intercable was giving cable service to 39,000 out of 62,000 households and businesses in Alexandria.

Here's a breakdown of the company's growth during this period:

By 1997, Jones Intercable had expanded its reach and was serving a significant number of customers, but the company's ownership structure was also changing.

In 1998, Comcast made a deal to purchase some stock, giving it the rights to acquire control of Jones Intercable's 1.4 million subscribers.

Comcast's deal with Jones Intercable left it with a 37 percent economic stake and a 47 percent voting stake.

Comcast started buying up Jones Intercable's stock in September 1999, acquiring almost a million Class-A shares from Jones International and 3,000 shares from Glenn Jones himself.

This led to Comcast taking full control of Jones Intercable, with Comcast acquiring 100 percent of the company in a deal valued at around $3 billion.

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Hirsch v Inc was a significant court case that established the principle of vicarious liability.

The plaintiff, Hirsch, was a customer at a store owned by Inc. He was injured by the store's employee, and Hirsch sued Inc for damages.

The court ruled in favor of Hirsch, holding Inc liable for the employee's actions.

The decision was based on the idea that Inc had a responsibility to supervise and control its employees, and that they had failed to do so.

This case has been cited in many subsequent court decisions as an example of vicarious liability in action.

Glenn Jones is a true pioneer in the field of technology and education. He spent four decades extending the reach of technology, first by bringing cable television to American homes, then by fusing education with the Internet.

In 1961, Glenn Jones graduated from the University of Colorado's School of Law and began his career in cable television by representing cable companies in their acquisition efforts across the country. He represented cable companies nationwide.

Glenn Jones borrowed $400 against his Volkswagen to purchase his first cable system in Georgetown, Colorado in 1967. This marked the beginning of his cable operations company, Jones Intercable, Inc.

Comcast is acquiring the remainder of Jones Intercable's shares for $3.2 billion in stock.

Comcast will exchange 1.4 shares of its Special Class A stock for each Jones common and Class A share, which is about $73.06 each.

This is 15% more than Tuesday's closing price of Jones common stock and 9.2% more than its Class A shares.

Comcast will also assume about $1.6 billion in Jones debt.

The acquisition will increase Comcast's coverage of the U.S. mid-Atlantic region, allowing it to operate more efficiently and roll out more services.

Comcast will have about 8.2 million customers after adding Jones' 1.3 million in 17 states including California.

This expansion will help Comcast build larger regional subscriber groups, or clusters, to cut costs and offer new digital services.