April 1, 1999 | Mojave, California
After a deal valued at nearly $3 billion, Comcast marks its complete control over Jones Intercable with an official name change to “J. Intercable.” Aggressive buyout tactics are set to begin in September, first by purchasing nearly a million Class-A shares of Jones Intercable from Jones International followed by nearly 3,000 shares from CEO Glenn Jones himself.
Thanks to a deal with the communications company made in May of last year, Comcast now has the right to acquire total control over Jones Intercable’s 1.4 million subscribers, 37 percent economic stake and 47 percent voting stake just as Glenn Jones was set to publicly announce his latest project, “Space Link.” With J. Intercable, Comcast vows to continue Glenn Jones’ mission to use now defunct satellite technology to listen and watch outer space. The conversion process with continue over the next three decades by our team of technicians in a remote desert city in southern California.
As J. Intercable is now a private company owned by a large corporation, sharing our findings is not limited to the same rules and regulations as other media outlets. We intend to share our findings to inform the public, wherever that may take us.