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HomeMy WebLinkAboutAmerican Television and communications CorporationAMERICAN TELEVISION AND COMMUNICATIONS CORPORA TION .(U(U(f■■ ■ ■ AMERICAN TELEVISION AND COMMUNICATIONS CORPORATION March 30, 1977 TABLE OF CONTENTS Page SECTION I: CORPORATE IDENTIFICATION A Profile of American Television and Communications Corporation . . . . 1 Figure 1: ATC: Blue -Chip MSO With Continued Growth Figure 2: Down to Earth 'Blue Sky' Biographical Information 4 SECTION II: FINANCIAL QUALIFICATIONS Description of ATC Financial Position 19 Figure 3: ATC Annual Report for year ended June 30, 1976 Figure 4: ATC Second Quarter Report for period ended December 31, 1976 Figure 5: Figure 6: Information Bulletin Paine, Webber, Jackson and Curtis, Inc. CATV Stocks: Follow - Up Report Scherck, Stein & Franc SECTION III:. SERVICE TO THE COMMUNITY ATC's Commitment to Serve Figure 7: Letters of Commendation 21 SECTION I: CORPORATE IDENTIFICATION A Profile of American Television and Communications Corporation American Television and Communications Corporation (ATC), is a publicly -held corporation with CATV operations in 31 states. The company serves nearly 600,000 subscribers. Its corporate headquarters are located in Denver, Colorado. The company was formed in June, 1968, to create an operating firm of national scope, with combined financial resources, administered by highly professional management, and dedicated to the provision of unexcelled cable television services to large and small communities across the United States. The systems which were combined to provide the nucleus for ATC were formerly owned by Narragansett Capital Corp., Boston Capital Corporation, Memorial Drive Trust (a profit- sharing trust of Arthur D. Little, Inc.), and Daniels and Associates. These firms contributed broad experience in system operation and in the participation of the financial community in the industry. Representatives of these groups are members of the Board of Directors of ATC. -1- DIRECTORS AND OFFICERS OF ATC Monroe M. Rifkin Charles Conrad M. Colyer Crum Jean E. deValpine James E. Robison Harvey J. Sarles James R. Shepley Joseph J. Collins' John F. Gault James R. Griffith David D. Kinley Michael J. McCrudden Trygve E. Myhren Henry J. Gerken Thomas W. Binning David E. O'Hayre June E. Travis Chairman and President Director Director Director Director Director Director Vice President - Eastern Operati oris Vice President - Corporate Development Vice President - Treasurer Vice President - Planning and Development Vice President - Western Operations - Vice President - Marketing Secretary/Counsel Controller - Assistant Secretary Assistant Controller Director of Communications Assistant Secretary American Television and Communications Corporation possesses the extensive technical and management capabilities of a group of people who helped pioneer the cable television, field. ATC presently employs over 1,100 of the highest calibre management and technical personnel in the industry today. They have been responsible for the development of many award-winning promotional, accounting, technical and control- practices utilized throughout the industry today. The management of American Television and Communica- tions Corporation is constantly called upon to provide leadership in the National Cable Television Association and -2- regional industry organizations. Realizing the importance of these associations to the public and the industry, ATC personnel have served as elected officers, committee chairpersons and members on national, regional and state levels. This team of top specialists -- dedicated to the concept of being a helpful, integrated part of the communi.tie•s they serve and providing full service to all citizens -- is the primary reason for ATC's unparalleled growth and increasing leadership within the industry. Figures 1 and 2, following, are reprints of articles about ATC. These stories are typical of the coverage devoted to ATC and its management by the media. -3- ATC: Blue -Chip MSO With Continued Growth American Television and Com- munications Corporation is a Denver-based, public ally -owned multiple system operator headed by Monroe M. Rifkin. Rifkin launched ATC in June of 1968. In August he combined four com- panies which were operating 28 CATV systems to form ATC's base. The combined holdings of the four firms represented 67,000 subscribers. From that initial start, ATC has grown to include 99 operating systems or franchises in 30 states. They have nearly 11,000 miles of plant serving over 500,000 subscri- bers. Their franchise area covers an estimated 2,000,000 homes with ATC plant passing nearly 1,000,000 of those homes. Rifkin took ATC public on March 13, 1969, to facilitate fu- ture expansion, and, since that time, the company's growth by acquisition and system building and expansion has been rapid and impressive. In its first year of operation ATC was serving over 100,000 subscribers. The subscri- ber total passed the 200,000 mark three years later in 1972, and doubled again the next two years to exceed 400,000 in 1974. Last December, the company topped the half million mark. According to Rifkin, the firm's continuing commitment to bring- ing new systems "on stream" is underscored by the fact that nine are under construction. In addi- tion he reports that ATC plans to start work shortly on systems to serve seven other markets. He ex- pects this aggressive construction program to contribute substan- tially to ATC's subscriber growth in 1976. On September 30, 1975, ATC premiered pay-cable service via domestic satellite in'Jackson, Miss- issippi and subscribers to the pack- age of first -run movies, live sport- ing events and special interest pro- grams total some 50 percent of the company's local cable cus- tomers. ATC also offers pay-cable to subscribers in San Diego, Cali- fornia and Albany, New York. In addition, the company expects to introduce pay-cable service to the majority of its cable subscribers throughout the country during the next two years. ATC also operates microwave systems in Florida, Kansas and Minnesota. The Florida system is nearing completion and construc- tion has begun on a new facility to transport two Washington, D.C. signals to Virginia and North Caro- lina systems. ATC has established a reputa- tion for having strong financing capability. Last fall the firm com- pleted negotiations which pro- vided for an additional long-term debt financing of $24 million. The fifteen -year senior notes were placed with a group of major insurance companies, with the proceeds of the financing used to reduce the cable company's bank borrowing. Rifkin is currently president and chairman of ATC. He was for five years president of Daniels Management Co., which previous- ly managed 25 of the ATC - affiliated systems. Before that he served for six years as vice presi- dent and controller -treasurer of Teleprompter Corp. A certified public accountant, Rifkin has served as secretary and treasurer of the National Cable Television Association as well as on its Board of Directors. He was also chairman of NCTA's Long -Range Planning Committee, where he spearheaded interest in the two-way potential of CATV. John F. Gault joined ATC in March, 1970 as vice president of marketing. In. May, 1975, he was named vice president, corporate development. Prior to joining ATC, Gault had been vice presi- dent of Television Communi- cations, president of Continental CATV, Inc., and president of Commonwealth Television: He has served as director for the New York State Cable TV Association, as well as on several committees of the National Cable Television Association, including chairing the Codeof Ethics Committee. Gault's headquarters are in ATC's Washington, D.C. office. Reprinted from March, TV Communications FIGURE 1 Monroe M. Rifkin Chairman & President 41111(1(111 ■ ■_111111111. Henry J. Gerken Counsel/Secretary James R. Griffith VP -Treasurer Trygve E. Myhren, VP -Marketing John F. Gault VP -Corporate Development Joe Collins Eastern Area Mgr. James R. Griffith was named ATC's vice president, treasurer last September. He is responsible for the company's financial affairs in- cluding liaison work with the banking and financial communi- ties. Prior to joining ATC, Griffith was vice president of finance of Penntech Papers in New York City. A graduate of Princeton University, he received an MS and MBA from the University of Michigan. He is headquartered in Denver. Bruce Lovett is ATC's vice pres- ident, industry affairs. He grad- uated with a BA degree from Lynchburg College in Virginia and holds a degree in law from George- town University Law School. He served as Trial Attorney at the Federal Trade Commission until early 1965, when he joined the Office of the General Solicitor at Western Electric Co. In late 1965, Lovett became assistant general counsel of NCTA and assumed the position of • general counsel in March, 1967. He has been a mem- ber or chairman of various com- mittees . and has served as a direc- tor, vice chairman, and chairman of the NCTA. He heads the ATC corporate office in Washington, D.C. Trygve E. Myhren is ATC's vice president, marketing. He offices in Denver and is responsible for ad- vertising, promotion, sales and market research at the corporate level as well as for ATC's systems and franchises. Prior to joining ATC, Myhren had been vice presi- dent of Communications Research Machines, a publisher of maga- zines and textbooks as well as a producer of films and home study products. He is a graduate of Dartmouth. Henry J. Gerken, secretary to ATC, also serves as the company's in-house counsel. He is a graduate of New York University with a BS in business administration. He re- ceived his Juris Doctor degree from the same university in 1965. After serving four years in the Judge Advocate General's Corps of the U.S. Army, Gerken became associated with a New York City law firm. Direction of ATC's cable opera- tions are divided between two area managers. Joseph J. Collins, who had previously managed the com- pany's northeast division, became Michael McCrudden Western Area Mgr. Bruce E. Lovett VP -Industry Affairs eastern area manager for ATC in 1975. A graduate of both Brown University and Harvard Univer- sity's School of Business, he joined ATC in June, 1972 as director of marketing in Orlando, Florida. He was soon named gen- eral manager of the operations in Orlando, Sanford, and Kissimmee, Florida. New heading up ATC's eastern operations, Collins over- sees the company's activities east of the Mississippi. He is head- quartered in Denver. Michael J. McCrudden, as west- ern regional manager for ATC, is also headquartered in Denver. He has overall responsibilities for ATC's operations located west of the Mississippi River. McCrudden joined the company in 1972 as director of market development. In that position, he was respon- sible for the research and develop- ment of new applications of cable television. Formerly executive as- sistant to the director of the Office of Telecommunications Policy in Washington, D.C., McCrudden received his Master's Degree in business administration from the Wharton School at the University of Pennsylvania. Reprinted from March, TV Communications L_; r From remarks to The New York Society of Security Analysts Down to Earth `Blue Sky' Cable still holds the potential of being the focal point of a major long-term communications explosion in this country. The availability of domestic satellites will make possible the live interconnection of cable systems throughout the country, thus, enhancing networking possibilities and distribution of programs for Pay TV purposes. Additionally, ancilliary cable services utilizing the technological capability of our broadband systems are being developed — and are being tested today. Economic viability of such services has not yet been proven — so we, at ATC, still classify them under the canopy of "blue sky" — but they are coming closer to reality each day. Technology which will permit individual program purchases, the electronic transmission of data, two-way services, fire and intrusion alarm systems, etc. is currently being developed, and various services are now being tested in the market place to determine marketability. The scope of possible communica- tions needs and services is immense, and although some may never be demanded by the public — those that are demanded will be provided via cable. We are working now, and the manufacturers are working now. And when some years down the road the public's demand is known and proven, we will be there — with operational and already profitable systems — ready to react and respond. In addition, we have the opportunity to develop collateral enterprises which might allow us to derive greater profits from subscribers to cable systems other than our own as well as from our present cable subscribers. Important to consider here is the fact that these new collateral enterprises will be less capital intensive than our basic business. Program distribution is one area which has been barely touched, and one which holds great promise for the industry. Merchandising via cable is another area where ATC has already had experience, and this possibility, too, has tremendous potential. But the development of pay cable would seem to be the CATV—August 12, 1974 MONROE M. RIFKIN President, American Television and Communications Corporation most likely collateral enterprise to be developed at this point in time. Pay cable satisfies all of the present requirements of the cable industry. Its product — entertainment programming — has proven appeal. It requires little, if any, new transmis- sion facilities — can be viewed on a standard television set — and uses familiar software technology. In other words, it has demonstrated audience appeal and costs relatively little on the part of both the cable operator and the audience. Pay cable is a little over a year old right now, and can claim only some basically modest achievements. But even based on our very limited experience to date, it is difficult to ignore the fact that when pay cable is available, approximately 25 percent of the cable customers become pay cable customers. Certainly this shows us there is a strong consumer demand for at least some services not available elsewhere. Pay cable is a service designed for and by the consumers of our country. It holds the potential for stimulating production of new programs of more narrow interest — it increases programming options. It may well be the only hope to encourage the creativity necessary to sustain the performing arts, and support the return to the fine film making that some observers fear has been lost forever. It can be the focal point through which our educational process can be amended, and improved. It can be all of this because only individual consumers make the choice — of what they see and what they pay for. And direct consumer purchase is the basis upon which program production decisions will be made. Pay cable is truly the medium of "choice" — and that choice has been demanded by the public. Cable television is prepared — now — to provide that choice. So the opportunities are there for all of us to enjoy. Indeed, cable television still represents the nation's Number One growth industry — and ATC isdetermined to be Number One within that industry. FIGURE 2 Biographical Data: The following are biographical summaries of the company's Board of Directors and other key administrators of American Television and Communications Corporation who will be engaged in the planning, engineering, operations and management of the cable television system in the greater Ithaca community. These brief sketches indicate the addi- tional amount of knowledge and strength in system operations that will be made available to your community through ATC. Monroe M. Rifkin ATC Chairman of the Board and President Recognized as a broadly experienced leader in the cable communications (CATV) industry, Mr. Rifkin was for _five years President of Daniels Management Company, a brokerage, consulting and management company devoted solely .to the .CATV field, which previously managed twenty-five of the ATC - affiliated systems. Mr. Rifkin was a founding director of ATC in 1968, and is now its Chairman. He has been President-andChief Executive Officer of the corporation since it was formed. A Certified Public Accountant, he- has served as Secretary and Treasurer of the National Cable Television Association as well as on its Board of Directors. He served'as Chairman of NCTA's Long -Range Planning -4- Committee where he spearheaded interest in the two-way communications potential of CATV, and was just recently chosen - again to chair that Committee. Charles Conrad ATC Director Mr. Conrad has served as a member of the ATC Board of Directors since 1968, and has played an integra-1 role in the development of ATC over the years. He graduated from Princeton University in 1953 with a bachelor -of science degree in aeronautical engineering. He also holds an honorary master ofarts degree from Princeton, an honorary doctorate of laws degree from Lincoln -Wesleyan University and an honorary doctorate of science from Kings College. For 11 years, Captain Conrad had been assigned to NASA as an astronaut and participated in four space flights. He is now Vice President - International Sales for McDonnell Douglas. • Dr. M. Colyer Crum ATC Director Professor M. Colyer Crum, a director of ATC, holds the James R. Williston Professorship of Investment Management at Harvard Business School. A respected authority on the management of investment institutions, Professor Crum joined -5- the Harvard faculty in 1960 after receiving his Master'sa nd Doctor's degrees inBusinessAdministration there, and now is Associate Dean of the Business School. Professor Crum is also .director of the Cambridge Trust Company;1M-assachusetts. Indemnity and Life Insurance Company; Pennsylvania Life Insurance Company; Stuart McGuire Company; and the Vance Sanders Special Fund. Jean E. deValpine ATC Director Mr. deValpine is and for more than five years has been, Administrator and Secretary - Treasurer of Memorial Drive Trust and a member of the law firm of Powers, Hall, Montgomery and Weston in Boston, Massachusetts. James E. Robison ATC Director Mr. Robison is Chairman of the Board of Narragansett Capital Corporation, and Chairman of the Finance Committee of Indian Head, Inc. Formerly Executive Vice President of Textron, Inc.,_Mr. Robison became President of Indian Head when.the-company was formed in 1953 and was named Chairmanof the Board in 1967. He is a trustee of Realty Income Trust and the California Institute of Technology, -6- t and a director of the Manhattan Eye, Ear, and- Throat Hospital.. -He holds an honorary Doctor of Science Degree from Suffolk University. Harvey J. Sarles ATC Director Mr. Sarles is a Director of American Television and Communications Corporation. Associated with. Narragansett Capital Corporation since 1960, Mr. Sarles has served as Vice President, Treasurer and President of the Corporation. He presently is Chairman of its Executive Committee and Chief Executive Officer. He has also been President of the. Business Development Company of Rhode Island since 1957. James R. Shepley ATC Director Mr. Shepley joined Time Inc. in 1942 to serve first as correspondent in its Washington office, then as foreign correspondent for Time and Life magazines. He served as chief of both the Washington News Bureau and the U.S. and Canadian News Bureaus. He has served as assistant publisher of Life, •publisher of Fortune and publisher of Time. Mr. Shepley is now President and Chief Operating Officer of Time Inc. and is a member of its board of directors. -- Additionally, he is a.trustee 'of both the South Street Seaport Museum and the George C. Marshall Research FO-undation, a member of the Region IV Advisory Board of Manufacturers Hanover Trust and a director of the Foreign Policy Association. Joseph J. Collins ATC - Vice President/Eastern Operations Mr. Collins was elected ATC's Vice President -.Eastern Operations -in 1976. He had previously managed the company's northeast division which is comprised of both ope-rating cable-. systems and systems under development in the states of Ohio, Indiana, Maine, Michigan, Pennsylvania and West Virginia. A graduate of both Brown University and Harvard University's School of Business, he joined ATC in June, 1972, as Director of Marketing in Orlando, Florida. He was soon named General Manager of the company's operations in Orlando, Sanford, and Kissimmee, Florida where he was responsible for new c-on-struc tion, franchising, and overall operating systems. Mr. Collins now heads up all of ATC's eastern operations. John F. Gault ATC - Vice President/Corporate Development Mr. Gault has been associated with the cable television industry for the past fifteen -years. He has served as ti Director for the New York State Cable TV Association, as_well as on innumerable committees of the National Cable Television Association. Prior to joining ATC, he was successively Vice President of Television Communications Corporation, President of Conti- nental CATV, Inc., and President of Commonwealth Television, Inc. Mr. Gault, who is ATC's Vice President - Corporate Development, headquarters in New York City. James R. Griffith ATC - Vice President/Treasurer Mr. Griffith, in his capacity as Vice President - Treasurer of ATC, is responsible for the company's financial affairs including liaison work with the banking and financial communities. Prior to joining ATC in September 1975, he was vice president - finance of Penntech Papers, Inc. in New York City. He joined Penntech in 1970 as treasurer and was appointed a vice president in 1972. Earlier, he served as a financial analyst in the treasurer's department at Exxon. A graduate of Princeton University, Mr. Griffith also received an M.S. and an M.B.A from the University of Michigan. David D. Kinley ATC - Vice President/Planning and Development Mr. Kinley, who joined ATC in June, 1976 as Vice Pres- ident - Planning and Development, has functional responsi- bilities spanning ATC's existing and developmental activities relating to franchise development, engineering, microwave and construction projects. In addition, he directs the research and development required to ensure the company's successful entry into such new technological areas as MDS. Mr. .Kinley was Cable Bureau Chief of the Federal Communications Commission until May, 1976. He had been appointed Deputy Chief of the FCC's Cable Bureau in July, 1973. Prior to his appointment to the FCC, Mr. Kinley, a lawyer, held positions at the Justice Department and at. the Department of Health, Education and Welfare. He has served as an assistant to the Lt. Governor of California and was in private practice with a California law firm early in his career. A native of Fort Worth, Texas, Mr. Kinley graduated from Harvard University with a law degree in 1966. He is headquartered in Denver, Colorado at ATC's corporate offices. -10- Michael J. McCrudden ATC - Vice President/Western Operations As Vice President - Western. Operations for the Company, Mr. McCrudden has overall responsibilities for ATC's Western Operations. His expertise is directed toward both the Company's operating cable systems and those under development within this geographic area. Mr. McCrudden joined ATC in 1972 as the Company's Director of Market Development. In that position, he was responsible for the research and development of new appli- cations of cable television, including specialized audio and video communications, data transmission, and other services. Formerly Executive Assistant to the Director of the Office of Telecommunications Policy in Washington, D.C., Mr., McCrudden has been involved with the development of national communications policies in cable television and other fields. Prior to OTP, he was with Booz, Allen and Hamilton, Inc., management consultants, where he worked extensively on problems concerning the management of international and domestic satellite service. Mr. McCrudden is a graduate of Trinity College in -11- Hartford, Connecticut and received his Master's Degree i -n Business Administration from the Wharton School at the University of Pennsylvania in 1968. Trygve E. Myhren ATC - Vice President/Marketing Mr. Myhren is responsible for advertising, promotion, sales and market research at the corporate level as well as for ATC's 97 operating cable systems and franchises in 31 states. His functional responsibilities span ATC's basic . cable TV offerings and the Company's entry into the new field of pay television and related consumer services. Prior to joining ATC as its Vice President:- Marketing, Mr. Myhren had been a vice president of Communications Re- search Machines, a publisher of magazines and textbooks a -s wellas a producer of films and home study products. Before that time, he had been executive vice president and a prin- cipal of Marketing Continental; a senior associate with Glendinning -Companies; and a unit manager for Proctor and Gamble. Mr. Myhren is a graduate of Dartmouth and received an MBA in marketing from the Amos Tuck Graduate School of Business Administration and Finance. Henry J. Gerken ATC - Secretary/House Counsel Mr. Gerken graduated from New York University in 1962 with a Bachelor of Science degree in business administration. He received his Juris Doctor degree from the same university in 1965. After serving four years in the Judge Advocate General's Corps of the U.S. Army, Mr. Gerken became associated with the New York City law firm of Webster, Sheffield, Fleischmann, Hitchcock & Brookfield, where he specialized in general corporate practice for several years. Mr. Gerken serves as Secretary to ATC and additionally serves as the company's house counsel. Thomas W. Binning ATC - Controller and Assistant Secretary A Certified Public Accountant with five years' experience in cable systems accounting, Mr. Binning serves as Controller and Assistant Secretary for ATC. Graduated with a B.S. in accounting from the University of Wyoming in 1968, he served on the audit staff of Arthur Young & Company until 1971 when he joined ATC's financial management team. -13- David R. Van Valkenburg ATC - Eastern Area Project Director Mr. Van Valkenburg joined ATC as manager of its Moraga, California cable system in 1973. He was named Western Regional Manager shortly thereafter, and in that capacity, assumed overall responsibility for both ATC'sexisting cable systems and those under development in California, Nevada and Oregon. Mr. Van Valkenburg became Eastern Area Project Director in late 1975 and is now headquartered in Denver where he spearheads the Company's new system develop- ment in the Eastern states. He will be directly responsible for ATC's operations in the greater Ithaca area. Mr. Van Valkenburg graduated from Malone College, Canton, Ohio, with a B.A. degree. He received his Masters Degree in radiation biophysics from the University of Kansas, and completed all of the academic work leading toward a Doctorate in radiation biophysics at the University of Pittsburgh. After graduating from the Harvard University Graduate School of Business Administration, he joined In- vestor's Diversified Services as a financial analyst and, for the four years prior to joining ATC, specialized in the analysis of the cable television industry. -14- James D. Stafford ATC - Eastern Area Division Manager Mr. Stafford joined ATC in March, 1972, as Director of Operations. As a result of the company's growth and expansion, he has become, more specialized and now directs the activities of ATC operating systems located in the Eastern half of the country. Prior to joining ATC, Mr. Stafford has successively served as Retail Controller for Litton Industries; General Manager of Danavox North America; and as a Marketing Manager for the Pillsbury Company. Mr. Stafford's broad business experience is complemented by an educational background which spans both his technical and management interests. Edward J. Callahan, Jr. ATC - Director of Research Mr. Callahan is responsible for the developmental activities directed toward the company's continued growth and expansion into new service areas, expecially those involving two-way signal transmission. -15- Prior to joining ATC, he was a Senior Associate Engineer with the Advanced Systems Development Division of International Business Machines Corporation, and as such, was closely affiliated with IBM's development program pertaining to the cable television industry and broadband communications concepts. A graduate of Marist College in Poughkeepsie, New York, Mr. Callahan now has overall responsibility for all research and technical programs in his capacity as ATC's Director of Research. W. Sherwood Campbell ATC - Director of System Engineering Mr. Campbell is responsible for all design and engineering programs directed toward ATC's new cable television system development around the country. A seasoned veteran of the cable industry, he has garnered engineering expertise over the last twelve years with such prestigious firms as Rensselaer. Polytechnic Institute, Jerrold Electronics Corporation, RCA Corporation, General Electric Cablevision and ATC. . A registered professional engineer, Mr. Campbell received his bachelor of engineering degree from Stevens -16- Institute of Technology and is currently enrolled in an Executive MBA Program at the University of Denver. He has served on a. National Cable Television Association committee as well as on two panels of the FCC's Cable Technical Advisory Committee. Now ATC's Director of System Engineering, Mr. Campbell is also an active member in several professional engineering societies and associations. Jack F. Sanders ATC - Director of Microwave Engineering Designer and engineer for allATC microwave systems, Mr. Sanders coordinates his work with the Federal Communica- tions Commission, the Federal Aviation Administration, field engineers and communications coordinators in the design, implementation and maintenance of high quality microwave systems including common carriers, Community Antenna Relay Services (CARS), Local Distribution Systems (LDS), and Multi -point Distribution Systems (MDS). Mr. Sanders earned his cable expertise through fifteen years experience in the industry, including five years as manager and chief technician for the cable system serving Woodward, Oklahoma. Before joining the cable industry, Mr. Sanders was active in two-way communications as a radar operator (anti- aircraft division) in the United States Army. He holds a -17- first class radio and TV license from the FCC. A member of the Society of Cable Television Engineers, Mir. Sanders has authored several articles for cable publica- tions in recent years. -18- SECTION II: FINANCIAL QUALIFICATIONS American Television and Communications Corporation-, (ATC), was formed in 1968 to create a geographically diversified CATV company with centralized management and financial resources that could produce operating economies and serve as a medium for growth in the cable television industry. The Company, through the loan agreement and increasingly larger sums of internally -generated revenues outlined below, maintains a strong financial position today. As of December 31, 1976, the closing of the Company's second fiscal quarter, ATC had on deposit at the Morgan Guaranty Trust and other banks over $1,500,000. ATC's revolving credit loan with the Morgan Guaranty Trust Company of New York, the First National Bank of Chicago, the First National Bank of Boston and the Industrial National Bank of Rhode Island is at $12,000,000 of which approximately $8,000,000 was available to the Company at December 31. Additionally, as shown in the annual report included 'as Figure 3 near the end of this section, ATC generated cash flow of $16,360,000 during the fiscal year ended June 30, 1976. The Company's second quarter report, (see Figure 4 -19- in this section) indicates that cash flow is running rate of $19.4 million during the current fiscal year. Representatives from throughout the greater Ithaca community are invited to contact any or all of the following firms regarding the credit and financial standing of ATC. Our auditors: Our corporate legal counsel: Our principal banker: Our investment banker: Arthur. Young and Company 2100 Security Life Building Denver, Colorado 80202 Holland and Hart 500 Equitable Building Denver, Colorado 80202 Morgan Guaranty Trust Co. 23 Wall Street New York, New York 10015 Paine Webber Jackson & Curtis 100 Federal Street Boston, Massachusetts 02101 In addition, the research reports which follow as Figures 5 and 6 are further testimony of ATC's strong financial position which can and will be brought to bear in the greater Ithaca area. -20- American Television Communications Corporation 1976 FIGURE 3 Corporate Data American Television and Communications Corporation Officers Monroe M. Rifkin, President Joseph J. Collins, Vice President — Eastern Operations John F. Gault, Vice President — Corporate Development James R. Griffith, Vice President—Treasurer David D. Kinley, Vice President—Planning and Development Michael J. McCrudden, Vice President —Western Operations Trygve E. Myhren, Vice President—Marketing Henry J. Gerken, Secretary and Coansel Thomas W. Binning, Controller and Assistant Secretary David E. O'Hayre, Assistant Controller June E. Travis, Assistant Secretary Board of Directors Monroe M. Rifkin, Chairman President, ATC Charles Conrad Vice President/Consultant McDonnell Douglas Corporation (an aircraft manufacturing company) M. Colyer Crum Professor and Associate Dean Harvard University Graduate School of Business Administra- tion Jean E. deValpine Administrator and Secretary - Treasurer The Memorial Drive Trust (a profit-sharing and investment trust) James E. Robison Chairman of the Board Narragansett Capital Corporation (a licensed small business investment company) Harvey J. Sarles Chairman of the Executive Committee and Chief Executive Officer Narragansett Capital Corporation (a licensed small business investment company) James R. Shepley President and Chief Operating Officer Time Incorporated (a diversified publishing and forest products company) Executive Committee M. Colyer Crum, Chairman Jean E. deValpine Monroe M. Rifkin Harvey J. Sarles Audit Committee Harvey J. Sarles, Chairman Jean E. deValpine James R. Shepley Transfer Agents Industrial National Bank of Rhode Island Providence, Rhode Island Morgan Guaranty Trust Company New York, New York General Counsel Holland & Hart Denver, Colorado Auditors Arthur Young & Company Denver, Colorado Annual Meeting The company's annual meeting will be held on Tuesday, October 19, 1976, at 10:00 a.m. in the Auditorium of the First National Bank of Boston, 100 Federal Street, Boston, Massachusetts. Form 10-K Persons who wish a copy of the Form 10-K, as filed with the Securities and Exchange Commission, may receive a copy, at no cost, by directing a written request to the Director of Communications of the company. Financial Highlights Years ended June 30, Revenues Income before depreciation, amortization, interest expense and income taxes Depreciation and amortization Interest expense Income before extra- ordinary credit Net income Income per share before extra- ordinary credit Net income per share Average shares outstanding . 1976 1975 1974 1973 1972 $ 41,674,151 $ 33,707,360 $ 26, 731,723 $ 20,511,207 $ 14,798,173 21, 440, 225 16, 986, 489 13, 335, 754 10, 336, 461 7,816,780 9,142,099 8,192,869 6,739,450 5,692,035 4,220,512 4,928,430 4,505,661 3,639,159 2,403,461 2,087,029 4,049,696 2,465,959 1,902,145 1,162,965 694,239 4,049,696 2,465,959 1,902,145 2,120, 965 1,452,239 $ 1.08 $ .61 $ .46 $ .26 $ .10 $ 1.08 $ .61 $ .46 $ .60 $ .42 3,330,280 3,303,826 3,149,926 2,815,420 2,382,087 Market Bid Prices of Common Stock 1976 1975 Fiscal Quarter II III IV High Low 15 1/2 10 3/4 15 11 3/4 22 13 1/2 20 16 3/4 High Low 9 5 3/4 8 1/2 5 1/2 12 1/4 6 , 17 3/4 9 1/2 Securities Market American Television and Communications Corporation's common stock (par value $.75 per share) is traded Over - the -Counter. The company's trading symbol is AMTV. ATC's $2.75 cumulative convertible preferred stock, series A and $2.50 cumulative convertible preferred stock, series B are not publicly traded. Financial Review Industry Developments The regulatory climate, which showed encouraging progress last year, exhibited further signs of a healthy policy-making environment during fiscal 1976. The FCC recently deleted its leapfrogging rules which restricted the source of distant independent signals carried by cable systems. As a consequence, systems may now select distant independent signals from any television market whatsoever, and there is the immediate prospect for long-range trans- mission of such signals by satellite to cable systems. In another recent action, the Commission adopted sweep- ing modifications in its rules governing the reconstruction, channel capacity and access ser- vices required of cable television systems. As part of these changes, the FCC removed the 1977 rebuild deadline which would have required cable opera- tors to invest significant sums of money in reconstruction efforts. Many issues do remain unresolv- ed at the federal, state and local levels, and these contro- versies continue to have an unsettling effect on the cable industry. Copyright and pole attachment disputes are at the forefront of these issues today. ATC and the cable TV industry have, for many years, supported fair and reasonable federal legislation which would establish copyright liabil- ity for carriage of broadcast signals. Legislation is now being considered by Congress, and it is possible that such legislation will be enacted during 1976. Telephone companies and other utilities provide pole and conduit space to cable systems for the installation of coaxial cables. Determination of the attachment fees charged by these companies has long been an issue of vital concern to the cable industry. The FCC recently ruled that it does not have jurisdiction to regulate the rates charged by power companies for pole attachments and has ordered further staff studies with respect to rates charged by telephone companies for these attachments. The industry is continuing its efforts in support of legislation directing the FCC to regulate pole attachment rates so as to eliminate the constant disputes between cable operators and pole owners over fair and reason- able pole attachment fees. In the meantime, ATC continues to negotiate with the owners of utility poles to achieve accept- able pole attachment rates. In spite of these unresolved issues, ATC believes that cable television is gaining increased national recognition as a new and competitive communica- tions technology which has much to offer the American public. ATC again set new records in revenues, earnings and cash flow during fiscal 1976. Net income climbed to $4,049,696 equal to $1.08 per share, from $2,465,959, or 61 cents per share a year earlier. Consolidated gross revenues totaled $41,674,151, compared with $33,707,360 for the year ended June 30, 1975. Cash flow (net income plus depreciation, amortization, and income taxes not currently payable) rose to $16,366,795 from $12,336,828 in the prior fis- cal year. Last March, the company placed $24 million of 15 -year debt at 10.95 per cent interest with several institutions. The proceeds were used to repay bank loans. A new revolving credit agreement was finalized in May, and provides ATC with a $12 million credit line at the prime borrowing rate in the first year. These transactions reflect ATC's approach to its financing— planning ahead to limit the impact of outside influences, such as prime rate variability, on its operating and development plans. In its long-range planning, ATC has used external funds to finance a portion of its growth. During the upcoming heavy development period, internally - generated cash flow will continue to contribute approximately three-quarters of the needed funds. 4 Cash Flow 1976 1975 1974 1973 1972 TdOBV (in thousands) Revenues 1976 1975 1974 1973 1972 (in thousands) FIVE-YEAR STATEMENT OF INCOME American Television and Communications Corporation Years ended June 30, Revenues: Services Other Costs and expenses: Operating expenses Selling, general and administrative Depreciation and amortization Interest, principally on long- term debt, net Income before income taxes and extraordinary credit Provision for income taxes Income before extraordinary credit Federal income tax benefit applicable to utilization of loss carryforward Net income Per common share after dis- tributions on preferred stock: Income before extra- ordinary credit Extraordinary credit Net income Weighted average number of common shares outstanding during the year 1976 $39,250,078 2,424,073 41,674,151 10,747,769 9,486,157 9,142,099 4,928,430 34,304,455 7,369,696 3,320,000 4,049,696 1975 $32,193,615 1,513,745 33,707,360 9,031,713 7,689,158 8,192, 869 4,505,661 29,419,401 4,287,959 1,822,000 2,465,959 1974 $25,389,199 1,342,524 26,731,723 6,902,997 6,492,972 6,739,450 3,639,159 23,774,578 2,957,145 1,055,000 1,902,145 1973 1972 $19,638,121 $14,193,152 873,086 605,021 20, 511, 207 14, 798,173 5,082,940 3,543,088 5,091,806 3,438,305 5,692,035 4,220,512 2,403,461 2,087,029 18, 270, 242 13, 288, 934 2,240,965 1,078,000 1,509,239 815,000 1,162,965 694,239 958,000 758,000 $ 4,049,696 $ 2,465,959 $ 1,902,145 $ 2,120,965 $ 1,452,239 $ 1.08 $ .61 $ .46 $ .26 $ .34 $ 1.08 $ 3,330,280 .61 $ 3,303,826 .10 .32 .46 $ .60 $ 3,149,926 .42 2,815,420 2,382,087 5 MANAGEMENT'S DISCUSSION AND ANALYSIS ATC reported increased revenues and income before extraordinary credit in each of the last five fiscal years. These increases were the result of subscriber growth in existing systems and new markets, higher subscriber rates and, in fiscal 1976, to a lesser extent, the expansion of microwave service and the introduction of pay television. In earlier years, the acquisition of operating systems also contri- buted to the increase in revenues. During this five- year period, revenues increased annually at rates ranging from 24 per cent to 39 per cent. During each of the last three fiscal years, ATC has increased its basic subscriber rates to keep pace with the contin- ually rising cost of operations. The increase in revenues during the fiscal year ended June 30, 1976 is due not only to continued subscriber growth and higher subscriber rates, but also to the development of microwave systems in Florida and North Carolina and pay television service in Mississippi, New York and Central Florida. Although the revenues obtained from pay television in fiscal 1976 were small, indications are that contributions from this service to future revenue growth will be significant. Expansion into new markets during 1976 continued with the completion of system construction in Albany, N.Y., Hartford and Beaver Dam, Ky., and Delaware, Ohio. Construction also is proceeding in the Orlando, Fla. complex and in Jackson, Miss., and new construction began in Portland, Me. and High Point, N.C. Two acquisitions contributed significantly to ATC's continued growth during fiscal years 1973 and 1974. In August, 1972, ATC acquired Jefferson -Carolina Corporation, a company which owned cable systems serving 13 communities in the North Carolina area. This acquisition accounted for approximately 47,000 subscribers. In August, 1973, the company acquired Time Incorporated's equity interest in several cable franchises and eight operating cable TV systems which served about 60,000 subscribers. Operating, selling, general and administrative expenses have increased over the last five years at percentages ranging from 21 per cent in fiscal 1976 to 46 per cent in fiscal 1973. These expenses, which have increased at rates comparable to the rate of revenue growth, have resulted in slightly improved operating margins (revenue less operating and selling general and administrative expenses). Increased operating costs are attributable to inflation and to the development of new cable TV systems which typically achieve somewhat lower operating margins during their developmental years. In spite of this, operating margins gained from 50.4 per cent in 1975 to 51.4 per cent in 1976. Depreciation and amortization expense has shown wide fluctuation over the past five fiscal years due to the development of new systems and the systems acquired in 1973 and 1974. While this expense con- tinues to increase, the 12 per cent increase for fiscal 1976 was the smallest in the five-year period. This is due principally to reduced construction activity during fiscal 1975 which, in turn, resulted in fewer systems being completed and becoming operational in fiscal 1976. This decline in construction also accounts for the relatively small increase of 9 per cent in interest expense during fiscal 1976 compared to increases of up to 50 per cent during the previous four-year period. These five-year fluctuations in interest expense were caused in part by the movement in the prime rate. However, with the placement in 1976 of $24,000,000 in 10.95 per cent, 15 -year senior notes, ATC has minimized the future impact of these rate changes. During fiscal 1976, income before income taxes and extraordinary credit increased 72 per cent over 1975, compared with gains from 40 per cent to 48 per cent in earlier years. Revenues increased approximately 24 per cent from fiscal 1975, while the operating costs increased only 21 per cent. As discussed above, depreciation and amortization—as well as interest— increased at the lowest percentage rate of the last five years. The result was the largest increase in income before taxes and extraordinary credit achieved during this five-year period. The provision for income taxes fluctuates dramati- cally from year to year due principally to the limitation on the use of investment tax credits as a reduction of deferred income taxes. For the fiscal years 1974 through 1976, the effective tax rate is less than the basic federal income tax rate of 48 per cent, principally because of the reduction in the provision for deferred income taxes by investment tax credits. For the fiscal years ended June 30, 1972 and 1973, the company utilized loss carryforwards, which it had previously incurred, to reduce taxes payable. The tax benefit applicable to the utilization of the loss carryforwards is shown as an extraordinary credit in each of those years. (See Note 4 to the consolidated financial statements for further explanation of the income taxes.) In summary, ATC continues the introduction and expansion of basic cable television service, the extension of microwave, and the introduction of pay television services. At the same time, the company has carefully controlled its operating costs to achieve consistently better operating margins which have contributed significantly to the increase in income before income taxes and extraordinary credits. While many of the nation's companies, especially in capital intensive industries, have had difficulties main- taining operating margins, ATC has recorded strong performance and growth. CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS American Television and Communications Corporation Consolidated Statement of Income and Retained Earnings Revenues: Services Other Costs and expenses: Operating expenses Selling, general and administrative Depreciation and amortization Interest, principally on long-term debt, net Income before income taxes Provision for income taxes (Note 4) Net income Preferred dividends paid (Note 3) Retained earnings at beginning of year Retained earnings at end of year (Note 2) Net income per common share, after dividends on preferred stock (Note 3) Weighted average number of common shares outstanding during the year See accompanying notes. Years ended June 30, 1976 1975 $39,250,078 2,424,073 41,674,151 10,747,769 9,486,157 9,142,099 4,928,430 34,304,455 7,369,696 3,320,000 4,049,696 (451,354) 3,619,249 $ 7,217,591 $ 1.08 3,330,280 $32,193,615 1,513,745 33,707,360 9,031,713 7,689,158 8,192,869 4,505,661 29,419,401 4,287,959 1,822,000 2,465,959 (452,532) 1,605,822 $ 3,619,249 $ .61 3,303,826 7 CONSOLIDATED BALANCE SHEET American Television and Communications Corporation Consolidated Balance Sheet Assets Current assets: Cash Trade accounts receivable, less allowance for doubtful accounts (1976—$247,137, 1975—$213,715) Maintenance and operating supplies Prepaid expenses Total current assets Investments in and advances to unconsolidated affiliates Property, plant and equipment, at cost (Note 2): Distribution systems including land Other equipment Less accumulated depreciation Net property, plant and equipment Franchises, at cost less accumulated amortization (1976—$9,084,075, 1975—$8,973,917) Other: Deferred development costs, less accumulated amortization (Note 1) Deferred debt issuance expenses, less accumulated amortization Other assets See accompanying notes. June 30, 1976 $ 4,860,057 681,305 563,071 376,568 6,481,001 2,123,779 99,095,124 5,126,214 104,221,338 35,015,514 69,205,824 33,831,671 5,085,540 642,580 295,245 $ 117,665,640 1975 $ 5,746,789 586,463 554,771 270,670 7,158, 693 1,964,106 85,698,787 4,526,494 90,225,281 28,117, 891 62,107,390 33,864,356 4,436,541 499,066 110,526 $ 110,140,678 8 June 30, Liabilities and Shareholders' Equity 1976 1975 Current liabilities: Accounts payable, principally trade Accrued interest payable Other accrued liabilities Subscribers' advance payments Long-term debt due within one year (Note 2) Total current liabilities Long-term debt due after one year (Note 2) Deferred income taxes (Note 4) Commitments and contingencies (Notes 4 and 5) Shareholders' equity (Note 3): Preferred stock, 500,000 shares authorized: $2.75 cumulative convertible, Series A; $3.33 stated value: 49,000 shares outstanding (Preference upon involuntary liquidation $2,450,000) $2.50 cumulative convertible, Series B; $3.00 stated value: shares outstanding, 1976-123,113, 1975-127,113 (Preference upon involuntary liquidation, 1976—$6,155,650, 1975—$6,355,650) Common stock, $.75 par value, 5,000,000 shares authorized; shares issued, 1976-3,428,188, 1975-3,317,154 Capital in excess of stated or par value Common stock held in escrow, 1976-63,000, 1975-87,000 shares Common stock held in treasury, at cost (10,081 shares) Retained earnings (Note 2) Total shareholders' equity $ 1,646,211 852,277 2,361,448 2,765,209 1,811,125 9,436,270 62, 247, 537 3,186,000 163,170 369,339 2,571,141 33,667,301 (1,142,710) (49,999) 35, 578, 242 7,217,591 42,795,833 $117,665,640 $ 1,581,485 703,318 1,645,268 2,118,791 1,721,812 7,770, 674 62, 470, 844 1,125,000 163,170 381,339 2,487,866 33,738,576 (1,566,041) (49,999) 35,154,911 3,619,249 38,774,160 $110,140,678 9 CONSOLIDATED STATEMENT OF CHANGES IN FINANCIAL POSITION American Television and Communications Corporation Consolidated Statement of Changes in Financial Position Source of funds: Current operations: Net income Charges against income not involving use of funds in current period: Depreciation and amortization Deferred income taxes Cost less accumulated depreciation of property, plant and equipment retired Total provided by operations Proceeds of long-term debt Reduction in income taxes resulting from utilization of net operating loss carryforwards of purchased subsidiaries (Note 4) Release of shares held in escrow (Note 3) Depreciation and amortization charged to deferred development costs Application of funds: Additions to property, plant and equipment Payments on long-term debt Increase in franchises Increase in deferred development costs Dividends paid on preferred stock (Note 3) Increase in investment in and advances to unconsolidated affiliates Increase in other assets Decrease in working capital Changes in components of working capital: Increase (decrease) in current assets: Cash Trade accounts receivable, net Maintenance and operating supplies Prepaid expenses Increase (decrease) in current liabilities: Accounts payable and accrued liabilities Subscribers' advance payments Long-term debt due within one year Decrease in working capital See accompanying notes. Years ended June 30, 1976 1975 $ 4,049,696 9,142,099 2,061,000 34,729 15,287,524 29,119,997 1,114,000 423,331 203,482 46,148, 334 14, 440, 296 29, 343, 304 2,704,700 1,039,025 451,354 159,673 353,270 48,491,622 $ (2,343,288) $ (886,732) 94,842 8,300 105,898 (677,692) 929,865 646,418 89,313 1,665,596 $(2,343,288) $ 2,465,959 8,192,869 638,000 62,743 11,359,571 14,274,398 1,040,000 549,042 413,341 27,636,352 16,174,509 9,198,993 881,737 1,000,326 452,532 517,341 52,984 28,278,422 $ (642,070) $ 453,389 (62,187) 26,668 (47,644) 370,226 (1,241,250) 737,421 1,516,125 1,012,296 $ (642,070) 10 NOTES American Television and Communications Corporation Notes to Consolidated Financial Statements June 30, 1976 and 1975 1. The consolidated financial statements include the accounts of the Company and all majority-owned subsidiaries. Affiliates, 50 per cent or less owned, are accounted for on the equity method. The Company records additions to property, plant and equipment at cost which includes amounts for material, applicable labor, overhead and interest. Depreciation is provided principally on the straight-line method over the estimated useful lives of distribution systems, 10-15 years; and other property and equipment, 4-10 years. The excess of the Company's acquisition cost over the net assets of the purchased companies has been allocated to franchises. Amortization of franchise costs has been provided on a straight-line basis principally over the lives of the franchises, ranging from 5-40 years. The Company follows the policy of deferring start-up costs incurred in developing new franchises. These costs are being amortized on a straight-line basis over ten years commencing with the end of the development period: eighteen months or 30 per cent saturation (connection to homes passed by cable), whichever first occurs. At June 30, 1976 and 1975, $6,128,050 and $5,089,025, respectively, of such items have been deferred. Investment tax credits are accounted for as reductions of income tax expense in the year allowable for income tax purposes. 2. At June 30, 1976 and 1975, long-term debt was as follows: Revolving credit notes payable to banks, due as described below—interest at prime rate (7-1/4%) at June 30, 1976 and 1/4% over prime rate (7-1/4%) at June 30, 1975 9-1/2% senior notes payable to various institutional lenders, due $1,500,000 annually 8-1/2% senior notes payable to various institutional lenders, due $1,450,000 July 31, 1978, $1,650,000 on July 31, 1979 and $2,350,000 annually thereafter 10.95% senior notes payable to various institutional lenders due $960,000 on March 1, 1979 and $1,920,000 annually thereafter Equipment leases and other 1976 1975 $ 4,800,000 $27,350,000 11, 000, 000 12, 500, 000 23,500,000 23,500,000 24,000,000 758,662 64,058,662 Less amount due within one year 1,811,125 $62,247,537 842,656 64,192,656 1,721,812 $62,470,844 On March 4, 1976, the Company entered into an agreement to place with various institutional lenders its 15 -year 10.95 per cent senior notes totaling $24,000,000. The proceeds of these notes and other funds were used to repay revolving credit loans. In May, 1976, the Company entered into a new Revolving Credit Loan Agreement with a loan limit of $12,000,000 and with interest at the prime rate through March 31, 1977 and 1/4 of 1 per cent over the prime rate to March 30, 1979. The agreement provides that the unpaid balance of the notes may, at the option of the Company, be refunded on March 30, 1979 by the issuance of term notes payable with interest at 1/2 of 1 per cent over the prime rate due in sixteen quarterly installments commencing June 30, 1979. The first four installments are each equal to 1-1/2 per cent of the total due, the next four are each equal to 6 per cent of the total due, the next four are each equal to 7-1/2 per cent of the total due and the final four are each equal to 10 per cent of the total due, with the last payment due March 31, 1983. Although no formal agreement exists, the Company has maintained compensating balances in varying amounts with the banks involved in this loan agreement. Under the terms of the loan agreements relating to the revolving credit notes payable and the senior notes payable, the Company is required to maintain consoli- dated working capital as defined; dividends on and repurchase of its capital stock are restricted; and limita- tions are imposed on acquisitions, rental payments, sales of assets, additional investments, additional indebted- ness, capital expenditures and on the incurrence of security interests in any of the Company's assets. Aggregate annual rentals payable at June 30, 1976 under leases capitalized amounted to $380,000. Rental expense for all noncapitalized leases, including pole attachment fees of $1,582,000 and $1,330,000, amounted to $2,115,000 and $2,071,000 for 1976 and 1975, respectively. Pole attachment fees are excluded from the following schedule since the majority of those contracts can be canceled with notice. Year ended Total rental Five years Total rental June 30 commitment ended June 30 commitment 1977 1978 1979 1980 1981 $ 440,000 242,000 184,000 125,000 76,000 1986 $ 206,000 1991 71,000 1996 18,000 After 36,000 There are no significant noncapitalized financing leases. 3. Series A $2.75 Cumulative Convertible Preferred Stock is convertible at a value of $50 per share into common stock at $17.40 per share until March 13, 1979 (thereafter $18.13 per share). Series B $2.50 Cumulative Convertible Preferred Stock is convertible at a value of $50 per share into common stock at $18.13 per share until March 13, 1979 (thereafter $18.85 per share). NOTES (continued) At June 30, 1976, 480,329 shares of common stock have been reserved for conversion of the preferred stock. Each share of preferred stock is entitled to vote share for share with the Company's common stock and in the event unpaid dividends on any series of preferred stock equal four quarterly payments, the preferred stock is entitled to elect one-third of the Board of Directors. A two-thirds vote of the outstanding preferred stock is required for authorization of any equal or prior class of stock or amendment of the terms of the pre- ferred stock. The preferred stock is redeemable at a price of $51 per share. The preferred stock also has preference upon liquidation. From 1979 to 1998 the Company is required to redeem annually five per cent of the total shares of each series theretofore issued at $50 per share. This redemption requirement is cumulative; however, the Company is to receive credit against this obligation for shares of preferred stock otherwise acquired by it. The stated value of preferred stock, par value of common stock and capital in excess of stated and par value changed during the two years ended June 30, 1976 as follows: Balance at June 30, 1974 and 1975 Preferred stock issued: Converted 4,000 shares of Series B to common stock Common stock issued: 100,000 shares issued to Time, Inc. pursuant to the terms of a prior year's pur- chase agreement Balance at June 30, 1976 Preferred stock stated value Common stock par value Capital in excess of stated or par value $544,509 $2,487,866 $33,738,576 (12,000) 8,275 3,725 75,000 (75,000) $532,509 $2,571,141 $33,667,301 Provisions of certain purchase agreements require common stock issued in connection with acquisitions of various companies be held in escrow pending those companies attaining a specified number of subscribers in future years. During the years ended June 30, 1976 and 1975, 24,000 and 28,000 shares, respectively, of the Company's common stock were released from escrow. At June 30, 1976, 175,151 shares of common stock were reserved for conversion of the stock purchase war- rants at $22.47 per share, issued in conjunction with the 9-1/2 per cent senior notes (see Note 2). At June 30, 1976 options for 84,500 shares of common stock had been granted and were outstanding under various qualified employees' stock option plans at prices from $16.50 to $44.75 per share for a total of $2,037,750 which equaled market at the date of grant. Under these plans, options for 15,100 shares have been exercised and there were options for 50,400 shares available for grant. At June 30, 1976, options for 55,000 shares had been granted and were outstanding under the Company's nonqualified stock option plan at prices from $6.00 to $19.50 per share for a total of $530,750, which equaled market at the date of grant. Options for 45,000 shares were available under this plan and none have been exercised. The Company has a voluntary employees' stock savings plan under which funds contributed by the Com- pany and the participants are used to make open market purchases of the Company's common stock for the benefit of the participants. The majority of the Company's full-time employees with at least twelve months' employment are eligible to participate. Com- mencing July 1, 1976, the Company will contribute 66-2/3 cents (up to a maximum of 6-2/3 per cent of each participant's salary) for each dollar contributed by a participant. The Company's contributions may become fully vested following completion of five years of service, including the year of eligibility. Under the prior formula, the Company's contribution for the years ended June 30, 1976 and 1975 totaled $29,779 and $24,287, respectively. Net income per share, after giving effect to dividends on preferred stock, has been computed using the weighted average number of common shares outstand- ing and common share equivalents during the respective years. No effect has been given to conversion of the preferred stock, exercise of stock options and warrants since their inclusion would not have a material effect. 4. The provisions for income taxes for the years ended June 30, 1976 and 1975 are comprised of the following: 1976 1975 State: Current Deferred Federal: Deferred, net of investment tax credits of $383,000 in 1976 and $390,000 in 1975 Charge equivalent to reduction in federal income taxes resulting from the utilization of loss carryforwards of pur- chased subsidiaries (credited to cost of purchased subsidiaries) $ 145,000 $ 144,000 321,000 137,000 1,740,000 501,000 1,114,000 1,040,000 $ 3,320,000 $ 1,822,000 NOTES (continued) Deferred tax expense results from the following items: 1976 1975 Deduction of deferred develop- ment costs for income tax purposes Excess tax depreciation Other $ 498,000 $466,000 972,000 140,000 591,000 32,000 $ 2,061,000 $638,000 Based on currently anticipated expenditures and operations, the deferred income tax balance is not expected to be reduced within the succeeding three years. The provision for income taxes amounted to $3,320,000 in 1976 and $1,822,000 in 1975, an effective rate of 45 per cent and 42.5 per cent, respectively. This rate is less than the basic federal income tax rate of 48 per cent principally because of the reduction in the provision for deferred income taxes by investment tax credits (5.2 per cent of pretax income for 1976 and 9.1 per cent for 1975). The Company and its subsidiaries file separate federal income tax returns and, as of June 30, 1976, they had operating loss carryforwards of approximately $7,200,000 available for offset against future taxable income. If realized, tax benefits relating to $2,900,000 and $4,300,000 of loss carryforwards would be credited to cost of purchased subsidiaries and to deferred income taxes, respectively. These carryforwards expire during the following fiscal years: 1977—$600,000, 1978— $600,000, 1979—$900,000, 1980—$1,500,000, 1981— $3,600,000. The Company and its subsidiaries have investment tax credit carryforwards of approximately $4,600,000 including $1,176,000 related to the reduction in the deferred income taxes payable. These credits expire in fiscal years through 1983. The Internal Revenue Service has not examined the majority of the Company's or its subsidiaries' income tax returns and, as a result of utilizing net operating loss carryforwards, many of these income tax returns remain open for examination. The Company and its subsidiaries have followed a policy of amortizing the cost of franchises over the life of the franchise and deducting this amortization for federal income tax purposes. It is possible that such treatment may be challenged by the Internal Revenue Service in individual cases as it has been with respect to certain other CATV companies. In a United States Tax Court decision, affirmed by the Ninth Circuit Court of Appeals, the CATV franchises involved were held to have an indeterminate useful life and the amortization of costs allocable to such franchises was therefore denied. This decision is not determinative with respect to the Company and its subsidiaries because the life of a CATV franchise is a question to be determined from the facts of each individual case. Management continues to believe that its franchises have a determinate life and that this treatment is justified, although no assurances can be given concerning the ultimate outcome of any challenge that may be made by the Internal Revenue Service with respect to any of the Company's franchises. However, if an adjustment is required, management believes that any such adjustment would not have a material effect on the Company's financial position or results of operations. 5. In December, 1973, United Telecommunications, Inc. ("United") filed a complaint asking for damages in excess of $9 million against the Company for alleged breaches of the terms of an acquisition agreement dated February 22, 1972 between the Company, United and Jefferson -Standard Broadcasting Company ("Broadcast- ing"), whereby the Company acquired all of the stock of Jefferson -Carolina Corporation ("JCC"), a cable television company, from United and Broadcasting in exchange for an aggregate of 350,000 shares of Company's common stock and certain other considera- tion. Broadcasting was not a party to this action. In April 1975 a jury returned a verdict, and the trial court entered judgment in favor of United in the amount of $2,012,500. In June 1976 the Tenth Circuit Court of Appeals affirmed the judgment, and on June 30, 1976 the Company paid $2,141,637 to United in full satisfaction of the judgment, including accrued interest and court costs. The amount of the judgment paid to United, which was not material in relation to the Company's financial position, has been accounted for as an additional cost of the Company's investment in JCC and is not expected to have a material effect on the results of the Company's operations in the future. On March 5, 1976, the Company filed a complaint against Optical Systems Corporation and its subsidiary, Channel 100, Inc., alleging the breach of an agreement whereby the Company leased two channels on certain of its San Diego cable TV systems to Channel 100. In its complaint, the Company seeks a declaratory judgment that the lease agreement may be terminated, compen- satory damages estimated at $103,000 and punitive damages in an unspecified amount. On March 26, Optical cross -claimed against the Company and two of its subsidiaries. It seeks compensatory, treble and punitive damages aggregating $2,750,000, together with injunctive relief. The Company has been advised by its counsel that, based on information presently known to counsel, the Company's claim is meritorious and that it has meritorious defenses to the cross-complaint. AUDITORS' REPORT The Board of Directors and Shareholders American Television and Communications Corporation We have examined the accompanying consolidated balance sheet of American Television and Communi- cations Corporation at June 30, 1976 and the related consolidated statements of income and retained earnings and changes in financial position for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered neces- sary in the circumstances. We have previously made a similar examination of the consolidated financial state- ments for the prior year. As discussed in Note 4 to the consolidated financial statements, the deduction of amortization of franchise costs by the Company for income tax purposes could possibly be challenged in individual cases by the Internal Revenue Service. However, the ultimate resolution of this matter would not have a material effect on the consolidated financial position at June 30, 1976 or the consolidated results of operations and changes in the financial position for the year then ended. In our opinion, the statements mentioned above present fairly the consolidated financial position of American Television and Communications Corporation at June 30, 1976 and the consolidated results of operations and changes in financial position for the year then ended and, subject to the effects, if any, on the financial statements of the ultimate resolution of the mat- ter discussed in the preceding paragraph, the consolidated financial position at June 30, 1975 and the consolidated results of operations and changes in financial position for the year then ended, in conformity with generally accepted accounting principles applied on a consistent basis during the period. Arthur Young & Company Denver, Colorado August 12, 1976 14 ATC Cable Systems and Franchises Estimated Estimated Year Homes in Homes Miles of Year of Opera - Franchise Passed Sub- Distri- Franchise tion Area by Cable scribers bution Expiration Com - (1) (1) (2) System (3) menced Principal Community Served Number of Channels (4) With- out CATV With (5) CATV ALABAMA Birmingham* ARKANSAS 104,500 1988 4 11 El Dorado CALIFORNIA 8,257 7,891 4,910 96 2013 1964 3 11 Arvin Canyon Country Fresno* Lamont Moraga Rancho Bernardo San Diego Tehachapi Tulare* CONNECTICUT 1,697 8,840 85,000 2,863 22,815 5,681 78,800 1,273 13,000 1,697 895 8,743 8,249 2,267 974 22,463 18,624 5,575 5,225 46,455 17,599 1,273 1,149 26 1980 1966 102 1988 1964 1979 15 1985 1966 380 1993 1963 74 1994 1963 304 1988 1965 23 1986 1964 1980 4 4 4 5 3 8 8 5 6 12 12 8 12 12 12 17(6) 11 8 Torrington FLORIDA 11,225 9,900 5,617 90 1987 1974 5 15 Cocoa Kissimmee Melbourne Nokomis Orlando* Ormond Beach Perry GEORGIA 24,468 9,186 36,583 5,497 120,119 13,947 3,151 23,490 3,426 33,687 4,967 61,240 11,963 2,643 8,592 1,491 22,539 1,091 20,048 6,155 1,975 256 58 459 89 650 136 57 1994 1989 1998 1978 1987 1980 1992 1965 1971 1964 1968 1971 1964 1963 3 12,(61' 4 10 2 12(6) 5 11 5 10 3 12 1 9 Savannah ILLINOIS 31,932 24,717 7,168 292 1989 1963 4 10 Champaign/Urbana* INDIANA 30,200 1988 4 17 Marion Terre Haute IOWA 18,592 18,592 12,610 230 1991 1966 38,557 24,695 11,829 194 1990 1966 6 12 5 12 Fort Madison Mount Pleasant KANSAS 5,647 5,531 3,221 52 1997 1965 3,100 3,041 1,864 28 1984 1971 4 11 5 12 Chanute Emporia Independence Neodesha Parsons KENTUCKY 4,291 10,441 4,523 1,430 4,861 4,291 10,273 4,488 1,430 4,911 3,043 6,016 2,919 1,096 2,991 51 90 41 19 55 1982 1987 1981 1983 1983 1964 1961 1961 1965 1966 3 12 3 12 5 12 1 12 3 12 Hartford/Beaver Dam Madisonville Mayfield Murray 1,920 10,000 5,300 4,778 1,920 9,460 4,253 4,539 1,206 7,316 1,708 3,574 35 103 48 61 1988 1983 1984 1983 1976 1964 1966 1965 3 7 5 4 12 11 9 11 15 Year Estimated Estimated Homes in Homes Miles of Year of Opera - Principal Franchise Passed Sub- Distri- Franchise tion Community Area by Cable scribers bution Expiration Com - Served (1) (1) (2) System (3) menced Number of Channels (4) With- out CATV With (5) CATV LOUISIANA Monroe 22,300 19,137 7,030 234 1984 1965 2 10 Shreveport* 60,000 1989 3 15 MAINE Biddeford 6,844 6,161 2,818 53 1983 1974 4 15 Portland* 31,900 19,900 2,105 140 1984 1975 4 17 Sanford 5,405 4,507 2,667 51 1982 1973 5 17 MICHIGAN Battle Creek 28,280 23,479 12,256 215 INDF 1967 6 12 Oscoda 7,500 6,085 4,913 100 1983 1963 1 12 Tawas 2,800 2,415 1,482 30 1988 1965 1 12 MINNESOTA Mankato 14,194 13,400 10,010 162 1982 1957 5 10 Marshall 3,187 3,220 3,045 37 1987 1965 3 8 Montevideo 2,075 2,075 1,940 22 1987 1965 2 6 MISSISSIPPI Jackson* 50,000 20,906 6,776 255 1990 1972 4 MISSOURI 9(6) Boonville 2,744 2,669 956 25 1988 1965 3 12 Chillicothe 3,801 3,796 2,905 43 1988 1964 1 11 Kennett 5,080 5,030 3,863 73 2003 1966 1 10 Marshall 4,407 4,307 3,343 51 1988 1965 2 12 Maryville 3,649 3,587 2,482 38 1984 1964 1 12 NEBRASKA Columbus 4,261 3,959 1,456 57 1983 1964 5 12 Falls City 2,267 2,260 1,821 25 1983 1963 1 12 NEVADA Fallon 2,217 2,000 1,490 30 1989 1964 1 10 Yerington ' 1,259 935 617 20 1989 1965 3 8 NEW YORK Albany NORTH CAROLINA 54,000 45,413 20,573 354 1983 1974 4 20)6) Burlington 13,000 12,300 1,898 170 1978 1969 8 12 Charlotte 112,131 44,720 13,117 490 .1977 1967 8 11 Dunn 3,200 2,600 300 41 1994 1968 6 7 Durham* 30,000 -- -- 1988 5 10 ' Fayetteville 70,600 33,889 21,807 507 1991 1964 6 12 Gastonia 15,964 10,762 2,475 180 1985 1965 7 11 Greensboro 45,557 26,070 10,014 424 1979 1968 7 12 High Point* 18,000 4,643 1,721 63 1990 1975 4 9 Lumberton 6,334 5,765 3,799 77 1986 1967 5 12 Raleigh 46,700 30,273 15,098 431 1982 1968 6 12 Rockingham 5,876 5,644 3,114 74 1990 1968 7 12 Salisbury 7,014 5,595 2,113 79 1988 1969 7 10 Southern Pines 4,240 2,670 1,414 90 1985 1972 3 12 Whiteville-Chadbourn 2,623 1,720 964 35 1976 1968 4 10 16 Principal Community Served Estimated Estimated Homes in Homes Franchise Passed Area by Cable (1) (1) Year Miles of Year of Opera- Sub- Distri- Franchise tion scribers bution Expiration Com - (2) System (3) menced Number of Channels (4) With- out CATV With (5) CATV OHIO Columbus* Delaware OKLAHOMA Bartlesville Blackwell Guymon Norman* Stillwater Woodward OREGON 55,178 38,640 12,838 273 7,043 4,965 1,769 61 1981 1973 1988 1975 12,000 4,390 2,852 18,000 8,912 4,500 11,400 4,397 2,832 10,606 7,563 4,500 6,272 3,986 2,459 2,614 3,783 3,638 131 60 41 118 100 44 1990 1984 1978 1989 1990 1991 1972 1963 1955 1975 1971 1956 4 10 4 9 4 12 1 12 0 7 4 17 8 12 0 6 Baker La Grande Union PENNSYLVANIA E. Pittsburgh Franklin Levittown Reading SOUTH CAROLINA Cheraw TENNESSEE Henderson Lexington Milan Savannah Union City VIRGINIA Lynchburg* WEST VIRGINIA Charleston WISCONSIN Appleton Beloit Chippewa Falls Eau Claire Totals 4,138 4,904 677 4,131 3,285 4,854 4,034 608 516 42 54 11 1982 1982 1982 1954 1954 1956 0 0 0 8 8 7 18,101 3,157 40,000 68,265 18,051 7,155 5,070 4,913 26,009 10,399 61,459 34,394 148 51 200 365 1986 1986 1986 1988 1967 1952 1967 1968 11 10 1 12 16 18 19 12 2,200 1,944 1,060 30 1991 1968 7 12 1,070 1,800 2,800 2,500 3,684 1,020 1,705 2,752 2,450 3,505 731 1,554 2,245 2,225 2,565 15 30 39 40 47 1993 1989 1989 1989 1984 1969 1965 1966 1965 1965 2 2 2 3 5 6 11 10 12 12 18,000 1987 4 10 36,000 34,400 18,050 280 1991 1968 5 9 20,140 15,534 4,994 167 18,823 10,084 10,067 191 3,965 3,890 2,846 50 17,224 16,599 11,363 187 1,812,206 1,050,681 523,831 11,565 1980 1989 1979 1988 1973 1968 1964 1961 4 7 2 2 10 12 11 11 *Franchises and systems under development. 1. The numbers of homes are based variously on local sources (such as city directories, chambers of commerce, public utilities and estimates of public officials), management estimates or actual house counts. A home is "passed by cable" if it can be connected to service without extension of the distribution system. 2. Paying subscribers on a first -connection basis, disregarding multiple connections in homes, motels, institutions, etc. 3. Principal franchise where more than one. 4. All systems have at least 12 -channel capacity. 5. "Significantly viewed" as per the FCC, based on American Research Bureau surveys. 6. System also provides pay-TV channel. This report is issued solely for the purpose of providing information. It is not intended for use in connection with any sale or purchase of, or any offer or solicitation of offers to buy or sell, any securities. American Televjsion Communications Corporation 360 South Monroe Street Denver, Colorado 80209 FIGURE 4 American Televdision Communications Corporation 360 South Monroe Street Denver, Colorado 80209 This report is issued solely for the purpose of providing information. It is not intended for use in connection with any sale or purchase of, or any offer or solicitation of offers to buy or sell, any securities. To Our Shareholders ATC's revenues and operating piofits for the second fiscal quarter and first half ended December 31, 1976, rose to record levels, reflecting the company's continued growth and progress. Net income rose 56 per cent on a 28 per cent increase in revenues in the quarter ended December 31, 1976. In the first hall of the current fiscal year, net income was 56 per cent higher than in the same period last year, on a 26 per cent rise in revenues. Revenues for both the second quarter and six month periods were at record levels. Actual figures are in the accompanying table. Directors of ATC, at their quarterly board meeting in January, voted an initial cash dividend of 5 cents a share on the company's outstanding stock. The dividend is payable April 1, 1977, to shareholders of record March 1. The company continues to expand its interests in premium programming services. In addition to the pay TV programming being offered profitably by eight of its cable systems, ATC operates intracity microwave systems in Miami, Florida and Denver, Colorado. Referred to as Multipoint Distribution Systems (MDS), these microwave systems deliver premium programming to residents of large apartment and condominium complexes. Nationwide, ATC provided premium programming services to more than 32,500 customers at the end of its second quarter. Plans for future expansion in the pay cable industry ,continue to be very thoroughly evaluated by ATC. Broadened sources of live programming are being sought, and test markets are being considered for experimental programs designed to assess new technical and programming concepts. During the quarter, ATC filed an application with the Federal Communications Commission which seeks the broadcast TV license for channel 20 in Denver, Colorado. If the Commission grants a license to ATC, the company will construct the fifth commercial TV broadcast outlet in Denver, the nation's 23rd largest TV market. The filing included a request for subscription television authorization from the Commission. ATC plans to combine the premium programming services of Subscription Television (STV) with conventional commercial productions for its channel 20 programming schedule. Subscribers to the company's basic cable service increased significantly during the quarter. At December 31, ATC served more than 576,000 subscribers in 31 states, making it the third largest cable television company in the nation. With a highly successful first half behind us, we are confident that ATC will achieve new record levels in subscribers, revenues and profits during fiscal '77. Sincerely, MONROE M. RIFK'IN Chairman and President February 3, 1977 Financial Highlights American Television and Communications Corporation (Unaudited) Three months ended Dec. 31, 1976 1975 Revenues $13,009,962 Incomebefore depreciation, amortization, interest expense and income taxes 6,463,136 Depreciation and amortization - 2,537,871 Interest expense 1,357,621 Income before income taxes 2,567,644 Provision for federal and state income taxes (Note A) 1.,130,000 Net income 1,437,644 Earnings per share—Primary 39 cents -Fully Diluted 37 cents Weighted average number - of shares outstanding 3,379,234 $10,130,132 5,169, 848 2,274,564 1,220,410 1,674,874 754,000 920,874 24 cents 24 cents 3,322,834 Six months ended Dec. 31, 1976 1975 $24,898,078 $19,739,296 12,449,178 10,121,196 4,927,986 4,536,899 2,673,503 2,429,778 4,847,689 3,154,519 2,133,000 1,420,000 2,714,689 1,734,519 74 cents 45 cents 70 cents 45 cents 3,369,191 3,322,060 • (A) The provision for federal taxes is not currently payable since a portion is deferred taxes, less investment tax credits using the flow-through method, and a portion is applicable to the utilization of purchased net operating loss carryforwards. PAINE WEBBER JACKSON &CUA IS INCORPORATED Member New lbri Stock E.change, Inc. INFORMATION BULLETIN American Television & Communications Corporation (AMTV-OTC) Recent Price: $ 17 1/2 asked 1976 Price Range:* 22 1/213 1/2 Dividend: none Common Shares Outstanding: 3,300,000 * bid prices ** fiscal year ends June 30 Summary & Conclusion 195 Earnings Per Share 1977E:** $1.40-$1.50 Earnings Per Share 1976E:** $1.08 Earnings Per Share 1975:** ,$. 61 Price/Earnings Ratio 1977E: 12.5x-11. 7x Price/Earnings Ratio 1976E: 16. 2x Price/Earnings Ratio 1975: 28. 7x American Television has established itself as one of the best managed and most successful multiple system operators in the industry. On a compound annual basis over five years, the company has increased subscribers, revenues and income from operations at 29%, 31% and 66% rates, respectively. Furthermore, AMTV's existing financial base and accelerating cash flow, combined with its large unbuilt inventory, assures a sustained pattern of growth for the next several years. In fact, the introduction of pay cable services should accelerate that pace over two to three years. Because of the heavy capital investment that was characteristic of the industry during its most intensive development phase, . depreciation, amortization and interest expenses have kept a lid on reported profits. Historic multiples, therefore, have little signi- ficance in assessing current valuations. However, the premium relative to the Standard and Poor's Industrials Index (SPIT), as reflected in the current multiple of our fiscal 1977 earnings estimate, seems reasonable in view of our optimistic out- look for above average growth over the next five years. In light of the cable television industry's historic market performance (as depicted in our index on page 15), as well as our expectations of an uptrending market, the leaders in the industry should continue to perform well. © 1976, Paine, Webber, Jackson & Curtis Incorporated RESEARCH DEPARTMENT 140 Broadway, New York, N. Y. 10005 ADDITIONAL INFORMATION ON ANY SECURITIES MENTIONED IIEREIN IS AVAILABLE ON RECUT FIGURE 5 -2 - Corporate Background Soon after its incorporation in June 1968, American Television acquired 14 operating companies with 57, 000 subscribers in 28 systems. Since then, the company has aggres. - sively pursued growth by means of acquisition of both operating systems and of new franchises. Most notable among the company's acquisitions have been those of Jefferson -Carolina Corporation in August 1972 (47, 000 subscribers) and of Time Inc. properties, including eight operating systems with 60, 000 total subscribers, 36, 000 of which were transferred to American Television (in proportion to respective ownership percentages). AMTV has increased its total subscribers at a compound annual rate of 29% for the five years through June 1975, a pace exceeded by the company's development of franchised inventory, as Table 1 shows. Good subscriber gains have been maintained throughout the company's life (13%, 37%, 39%, 24%, 33%, 22% for the years 1975 through 1970, respectively); yet penetration of homes enfranchised has remained at a healthy mid -20% level. More recent growth has derived from the development of new franchises. As is demonstrated in the next 'section on operations, American Television has been one of the most successful of multiple system operators in terms of its ability to secure good franchises and to finance their development. American Television is engaged in the common carrier relay business (i. e. , micro- wave), as are several other multiple system operators. However, revenue from out- side users is minor and is derived in the course of servicing its own cable systems. Operations The cable statistics in Table 1 trace the growth of the company over the last five years. Construction activity over the last two years and improved penetration figures support the company's contention (indeed, the industry's contention) that the cable television business is essentially recession -resistant. During the recent recession, American Television's growth in terms of units and dollars did not slow. Further, there was no discernible acceleration of the disconnect rate in the company's older systems, despite AMTV's policy of continuing rate evaluation and increase when the economics so warrant. Currently the average subscriber rate is a little more than $6.00 per month. Newer systems are being marketed at substantially higher rates, raising the company average beyond the increase from revised rates. The recession may have affected cable operations, by slowing the progress of marketing in the company's newer systems. Unlike other multiple system operators, however, AMTV has not meaningfully altered its construction plans and projections. Where its development has been slowed, the contributory factor has generally been of a logistical or political nature. A.s the following section will show, A. MTV is constantly expanding, limited essentially only by the ability of the local utilities to do "make ready", i. e. to have the poles prepared for cable, and by the FCC, which must grant construction permits. Table 1 American Television And Communications Subscriber Statistics Years Homes in Homes Cable Penetration Penetration Total ,Net Plant Ended - Franchised Passed Development Primary of of Miles Per June Areas By Cable % Subscribers HIFA HPBC Of Plant Subscriber 1975 1,800,554 979,581 54. 4% 484, 385 26. 9% 49. 4% 10.825 $128:22 1974 1.646,000 837,075 50.9 428,387 26.0 51.2 9,833 122.16 1973 1,215,800 596,000 49.0 313.066 25.7 52.5 7,659 127.78 1972 1,165,350 508,000 43.6 225,283 19.3 44.3 6,611 109.18 1971 755,750 346,000 45.8 181,555 24.0 52.5 4,418 102.60 W 1970 492, 550 NA - 136, 182 27.6 - 1 Five Year C.A.G. 1975-1970 30% 30%1 299 1 Compounded over 4 years. Source: Basic data from Amerlcan Television And Communications financial statements. -4 - By industry standards, AMTV still has an unusually large unbuilt franchise inventory, and the financial base with which to develop it. At fiscal year-end 1975, the company had approximately 800, 000 homes in its franchised systems not yet developed, i. e. passed by cable. With such an inventory, combined with strong cash flow, the company could almost double its size over the next several years without straining its existing financial base. New and Continuing Construction During the last fiscal year, AMTV completed construction on several new systems. Biddeford and Sanford Maine, with 100 miles of plant had a total of 5, 395 subscribers at June 1975 for 50% penetration. A third system in Maine is under construction as seen below. Torrington, Connecticut with 90 miles of plant, reached 53% penetration by June 1975 with 5, 166 subscribers. Columbus and Delaware, Ohio together had 14, 812 subscribers for a 34% penetration on 326 miles of plant. Most phases of Columbus construction were completed by calendar year-end. Bartlesville, Oklahoma, with 131 miles of plant, reached 49% penetration with 5,625 subscribers, and Appleton, Wisconsin added 5, 783 subscribers (37% penetration) on 163 miles of plant. American Television currently is undergoing substantial additional expansion, scheduling its construction program carefully --as has been its custom-- so that heavy capital expenditure and development phase accounting would not disrupt its financial statements. (See section on accounting for explanation of deferral of system costs). Among the most important systems under development are the following: * Albany, New York-- Over 450 miles of plant have been built and the system should be completed within the next few months. The system, which has been built in phases, has over 19, 000 subscribers now and has achieved 40% penetration with each segment turn -on. Penetration now is approaching 45%. The introduction of pay cable services in that market is discussed below. * Birmingham, Alabama-- Construction is expected to begin in June and to extend over three to five years. The 800-1200 mile system should have live subscribers before calendar year-end. * Columbus, Ohio-- The company is nearing the end of construction of this system (in phase 8). Construction of contiguous franchises, Westerville and Bexley for a total of approximately 50 miles will be carried out this fiscal year into the next. * Fresno,California-- This market has approximately 85, 000 homes, and construction is scheduled to span three to four years. Make ready and stranding are being done now. Initiation of service is expected in September. * Portland, Maine-- With 32, 00 homes, this is a particularly promising new market. Construction of the 250 mile system is scheduled to be completed by August or September of this year. The first subscribers should be turned on shortly. -5 - Several other systems are undergoing extension construction: These include San Diego, Orlando,and High Point, North Carolina. Additionally, the company recently announced its intention to acquire three cable systems in the San -Diego area. The agreement, expected to be consummated within three months, covers Mira Mesa, Rancho de los Penasquitos, South Bay Terraces and University City. The addition of these systems will bring American Television's subscriber count in San Diego to 25, 000. Champaign/Urbana, Illinois, Durham, North Carolina, Lynchburg, Virginia and Shreveport, Louisiana are all in early development stages. The Champaign/Urbana franchise encompasses 30, 200 homes. No construction schedule has been defined as local interests are contesting the franchise award. In Durham, a market of similar size, the company is still involved in difficult pole negotiations. Only after resolution can the two-year project begin. Lynchburg with 13, 300 homes estimated is very close to starting construction, which is expected to take approximately one year. And, finally, construction of Shreveport with 60, 000 homes is expected to extend over three to five years. How American Television financed the subscriber growth detailed earlier and how it will finance further construction are discussed in a section on finance below. The company's careful choice of new franchises historically and its proven ability to make attractive acquisitions have enabled it to achieve early profitability in its systems. Among recently constructed systems, several are moving into income statement accounts concurrently with initial marketing or are doing so soon after. Therefore, the impact of the company's construction activity on the bottom line is likely to diminish except, of course, in a most positive contributory way. Pay Cable Development Our expectations of excellent revenues and earnings gains for the current fiscal year exclude any material contribution from pay television. Although American Television was an early participant in satellite transmission for pay cable programming, the company has proceeded slowly with the extension of such service. Nevertheless, American Television continues to believe that within eighteen months pay cable service will have been offered to the majority of its basic subscribers nationwide. Currently the company has pay cable programming available in three systems; a fourth is close to initiating such service on an experimental programming basis. AMTV's first entry into pay cable was in March 1975 when it contracted with Optical Systems, Inc. for the transmission of Optical Systems' Channel 100 over its cable system. OSI provides movies and sports to approximately 2, 000 subscribers and pays AMTV 10% of total pay cable revenues as lessor of its channel. American Television recently announced that it had filed a complaint against Optical Systems, alleging it had not lived up to the tenets of the original agreement under which Optical would carry out satisfactory marketing and promotion of the pay package. A.MTV is seeking termination of the contract which extends for approximately four more years. -6 - Pay cable premiered in the company's Jackson, Mississippi system on September 30, 1975 with programming supplied via satellite. The Home Box Office (HBO) programming package provides first -run movies, live sporting events and special interest programs, and has attracted over half of the roughly 6,000 subscribers in the franchise. While the penetration of basic subscribers in the system is low (30% plus) relative to the company average, it has been achieved without distant signal importation. If the company is successful in bringing channel 17 (Atlanta) in by satellite, the possible boost in subscribers may provide a greater base to tap for pay. AMTV brought the HBO package to its Albany system in mid-February by terrestrial means and is still marketing it on a segmental basis. Thus far,pay cable subscribers in this system, where saturation is close to 50%,exceed 3, 000, and marketing is proceeding well. From a technical point of view, the introduction was made with ease because of the HBO microwave network and the fact that it is a converter system. The company 's next introduction of pay cable service will be in the Cocoa/Melbourne, Florida market, which, in June 1975, had 32, 000 subscribers for 56% penetration (an average of 39% for Cocoa and 69% for Melbourne). Also in Florida, American Television has received its earth receive station permit for Orlando and is looking for a June 1st start in that market. The pay service, to be called "Cinema Plus", represents an important step in the pay programming life cycle. The company has succeeded in arranging with HBO to make use of the components of the latter's pay package in a format of AMTV's choosing and in conjunction with programming from other sources. This represents the first time a cable operator has been able to establish a discretionary basis for utilizing the HBO package. At mid-April, American Television had approximately 9, 000 pay subscribers, 2, 000 of which were on a 10% of gross lease channel basis. The continuing development of other systems (the company has announced that within 18 months the majority of its primary subscribers should have pay cable service available to them) should see pay cable making an important contribution to fiscal 1977 operations and beyond. Microwave In addition to its cable television operations, American Television has some microwave relay business, which on June 30, 1975 contributed less than 1% to revenues. The company operates in three areas --Minnesota, Florida and the mid-Atlantic region --with its major thrust being to service its own cable systems. Where it is involved in long haul signal carriage, it acts as a common carrier. The Florida system originates north of Miami and terminates at Daytona. It delivers Miami independent television signals to cable systems in central Florida. The microwave system will serve as a terrestrial network, making pay cable programming available to approximately 250, 000 homes throughout central Florida. AMTV has also activated a cross -state extension to the Tampa - St. Petersburg area. -7- A major common carrier system was built more recently in the middle -Atlantic area for the purpose of carrying Washington, D. C. signals, specifically independent channels 5 and 20, to some of its under -developed systems in Virginia and North Carolina. The core route consists of approximately 250 miles (494 channel miles) from Washington, D. C. to High Point, North Carolina. The primary benefit of the microwave system is the improved penetration made possible by means of increased signal availability in the Lynchburg, Virginia and the Charlotte, Greensboro, High Point and Raleigh, North Carolina cable systems. The North Carolina systems accounted for 22% of total miles of plant, but only for 14. 5% of total subscribers at fiscal year-end 1975. Further expansion of this network is possible. Meanwhile, AMTV should derive additional revenues and income from signal carriage for other companies in both the Florida and mid -atlantic areas. , Accounting Since 1972, when the FCC promulgated exacting rules for the construction of new cable systems, all of AMTV's new systems have had 30 -channel capacity installation. The newer technology incorporated into these systems, including solid-state construction, has extended the expected basic plant life. AMTV is currently depreciating its plant over a 15 year life, while maintaining its 8-10 year depreciation schedule on the old system plant. Constant replacement and maintenance effectively sustains the value of the older plant. General accounting practices of the cable television industry have been somewhat controversial, primarily because t}.- concept of deferred development costs differs from the practice of most other industries. American Televison, for example, amortizes deferred development (pre -operating) costs over a 10 -year period from the time that 30% penetration is achieved or after 18 months have elapsed. The company has been experiencing lower deferrals and higher amortization expense as shown by the following numbers (from .AMTV fiscal 1975 10-K): Development costs deferred Total deferrals at year end Amortization 1975 $1, 000, 432 5, 089, 025 297, 658 1974 $1, 129, 927 4,088,699 160, 075 1973 1972 1971 $1,371,842 $ 663,616 $504,763 2,958,772 1,586,930 923,314 66,534 55,461 36,911 The particular terms of this deferral policy were originally based on breakeven expectations. Today, 35% to 40% penetration is generally required for profit break- through. (This ignores the incremental revenue and income boost from pay cable or ancillary services.) However, as we indicated in the above section on construction, early saturation in new systems can be close to 40%. In relation to the company's above average construction program (approximately 1, 500 miles of plant are to be added over the next 12 months), investment tax credits have been and will continue to be material. American Television uses the flow through method of -8 - accounting for investment tax credits which were $390, 000 and $403, 000 in fiscal 1975 and 1974, respectively. In fiscal 1973, the company exhausted tax benefits derived from consolidated loss carry forwards which in prior years were flowed through the income statement. Nevertheless, American Television and its subsidiaries file separate federal income tax returns and at fiscal year-end 1975 had operating tax loss carry forwards of $10.2 million. If realized tax benefits relating to $4 million and $6.2 million of loss carry forwards would be credited to cost of purchased subsidiaries and to deferred income taxes, respectively. American Television and its subsidiaries also have followed- the practice of amortizing the cost of muncipal franchises over the primary terms •of the franchises. The Internal Revenue Service (IRS) has neither questioned nor examined American Television in this regard; however, it has in other situations proposed disallowance of similar resulting deductions. If the IRS were to successfully challenge American Television on this matter, its provision for income taxes would be increased by approximately $1.6 million, covering all periods through June 30, 1975. The most widely discussed related case was a decision by a U.S. Court of Appeals involving a company which held that the muncipal cable franchises had determinate lives and disallowed amorti- zation of the costs allocated to such franchises. That decision does not necessarily establish a precedent in this matter because of the special facts of the case. The company in question had acquired a franchise that had less than two years to run, rebuilt the franchise and financed it with seven-year notes for the full purchase price. That financial action assumed an extended franchise life, while the company's tax policies were based on the stated remainingfranchise life. So far, the IRS has not approached A merican Television about its amortization policy. Meanwhile, an increasing dollar amount of the potential liability is falling beyond the statute period. Finances American Television is one of the few multiple system operators that has not had to 'materially restrict its expansion plans. We have already discussed the 30% compound annual growth that the company has achieved in the number of homes franchised, as well as in the number of homes passed by cable. Despite such unusually good growth, cable development has only just begun to exceed the 50% level. In order to achieve its growth record, American Television has been willing to use leverage liberally, but as part of a carefully conceived long range plan. For more than five years, the company has willingly used external funds in order to build cash flow for future growth. While phil- osophically 100% internal generation of capital needs is desirable, the company expects to continue to require about one third of its needs from external sources as long as heavy development continues. -9 - The company recently placed $24 million of 15 -year debt with several institutions. The money, taken down in March 1976, removed any ties to the prime,as proceeds were used to repay bank loans. It reflects AMTV's approach to its financing --the removal of as many variables as possible from its operating and development plans. A new smaller bank line is being negotiated so as not to tie AMTV to expensive commitment fees. The long-term debt position shown in Table 2 for fiscal 1975 is not expected to change materially for the current year. The most important factor is that interest expense is fixed. Table 2 is self explanatory. Most.subscriber ratios have been improving with the exception of equity/subscriber, which reflects more rapid subscriber growth than equity growth. , By the same token, debt/subscriber has been declining and should continue to do so. The lower half of the table shows the degree to which funds have been internally generated. For fiscal 1976, we estimate that capital expenditures were around $16 million with over 85% derived from cash flow. Expenditures for fiscal 1977 should be materially higher because a number of projects under development for fiscal 1976 were held up by litigation, pole clearance, and similar problems. Our expectations for fiscal years 1976 and 1977 are discussed below. Current Operating Results and Outlook American Television has achieved record operating results for the nine months ended March 31, 1976. 1976 1975 % Change Revenues $30,409,623 $ 24, 603, 907 23.6% Income From Operations 15, 532, 311 12, 419, 595 25.1 Operating Margin 51. 1% 50. 5% Depreciation & Amortization $ 6,812,399 $ 6,994,812 13. 6 Interest Expense 3,624,417 3,421,957 5.9 Pretax Income 5,095,495 3,002,826 69.7 Pretax Margin 16. 8% 12. 2% Provision for Federal Taxes 2,293,000 1,263,900 81.4 Tax Rate 45. % 42.1% Net Income $ 2,802,495 $ 1,738,926 61.2 Net Margin 9.2% 7. 1% E. P. S. $0.74 $0.42 76. 2 Table 2 American Television & Communications Corporation ' Operating And Fund Ratio Analysis 1975 1974 1973 1972 1971 Net Subscribers 484,385 428,387 313,066 225,283 181,555 Common Shares Outstanding 3,303,826 3,149,926 2,815,420 2 ,382,U87 2, 172, 169 Subcribers Per Share . 147 .137 . 110 . 095 .084 Cash Flow $10, 844, 296 $ 8,680,161 $ 6,745,150 $ 4 ,914,751 $ 3,762,864 Cash Flow/Subscriber ' 22.39 20.19 21.76 21.82 20.73 Cash Flow/Share 3.28 2.76 2.40 2.06 1.73 Stockholders' Equity 38, 774, 160 36, 211, 691 29, 344, 963 19,515,752 13, 734, 084 Equity/Subscriber 80.05 84.21 94.66 86. 63 75. 65 Long -Term Debt 62, 470, 844 57, 395, 441 43, 570, 803 29, 983, 735 24, 019, 723 �, Debt/Subscriber 128.97 133.48 140.55 133.09 132.30 o Return On Equity 5. 19% 4.01% 3.96% 3. 56% 2.59% Return On Total Capital 2.00 1. 55 • 1.44 1.40 .94 Net Income From Operations I $ 2,013,427 $ 1,453,711 $ 1 , 053,115 $ 694,239 $ 355,387 Depreciation & Amortization 8,192,869 6,739, 450 5,692,035 4,220,512 3,407,477 Taxes not Currently Payable 2 1,678,000 945,000 958,000 758,000 377,000 Cash Flow 3 11, 884, 296 9,138, 161 7,703,150 5,672,751 4,139,864 Capital Expenditures 15, 604, 237 15, 627, 876 12,484,169 7,071,776 5,963,283 Cash Flow As A % Of Capital Expenditures 76.2% 58.5% 61.7% 80.2% 69.4% Working Capital $ (611, 981) $ 30, 089 $ (212, 619) $ . (562, 092) • $ ( 633, 492) Current Ratio .92:1 1:1 .95:1 . 85:1 .84:1 Debt -To -Equity 1.61:1 1:58:1 1.48:1 1.54:1 1.75:1 1 After tax income from operations; After dividends paid on preferred stock in 1975, 1974 and 1973. 2 Provision for income taxes less state taxes currently payable. Amounts shown for 1973 and prior years are tax benefits applicable to the utilization of loss carry forwards. :t Defined here as net income from operations (less dividends on preferred) plus depreciation &amortization and deferred taxes. Source: Basic data American Television & Communications financial statements. -11 - We expect the fourth fiscal quarter to continue these trends, with full year earnings per share reaching $1.08 on revenues of approximately $42 million. The full year. bears witness to the marginal profitability of the cable television business, especially in periods of relatively little construction. Although A.MTV is actively involved in development and construction in over five systems, growth in the number of subscribers (up 6% in the 9 months) has been slow due partly to normal logistics and partly to general economic softness. The company is involved in a continuing heavy development schedule with a number of construction starts imminent. Capital expenditures should increase from the estimated $16 million of fiscal 1976 to approximately $18-$20 million in fiscal 1977. New subscribers from the Birmingham, Portland and Lynchburg systems, as well as additional subscribers in Albany, will contribute to subscriber totals in 1977. Increases in basic cable subscribers that often attend the introduction of pay cable are also a component of our estimated increase of approximately 13%. Much of the new subscriber activity will come from development stage systems; therefore, the contribution to revenues in fiscal 1977 will not be as great as in later years. Thus, we are estimating for revenues derived only from basic cable operations a more modest increase to approximately $46 million. Because of the rather slow deliberation that the company is showing in its approach to pay cable service, we cannot pinpoint the exact contribution of such service to fiscal 1977 revenues. We are assuming a conservative contribution of $3.5 to $4 million. The company's microwave business should increase in size of contribution because of plant expansions. For fiscal 1977, we are estimating "other revenues" of $2. 6 million. Aggregating the foregoing, total revenues are estimated to be approximately $50 million. A our model on page 13 indicates, we expect continued margin improvement. However, operating expense ratios should continue to evidence a shift as technical and service costs grow more slowly relative to the higher level of revenues that can be supported. At the same time, the marketing and administrative components of selling, general and admin- istrative costs will necessarily rise to higher levels because of the greater sophistication needed to develop, package and market pay cable services and to achieve even deeper basic cable penetration. We expect depreciation and amortization to reflect higher plant investment, and interest expense to reflect the higher average rates implied by the new privately secured funds. Our estimate of a 42% provision -for income taxes factors in investment tax credits resulting from heavier capital expenditure. While the trends represent our general outlook, the model projected in table 3 is our minimum expectation. -12 - The longer term outlook for the company includes the introduction of pay services to essentially all of its basic cable customers, as well as the development of the majority of its unbuilt franchise inventory. AMTV clearly is one of the top multiple system operators in the industry in terms of management ability, franchise inventory, and financial planning. Note: The Cable Television Index on page 15 is a pure composite of the market values of six cable television multiple system operators. We have chosen American Television & Communications (OTC-AMTV), Cablecom General (ASE -CCG), Cox Cable Communications (ASE-CXC), Tele-Communications Inc. (OTC-TCOM), TelePrompter (NYSE -TP) and UA -Columbia Cablevision (OTC-UACC) for the Index. The market value composite is shown relative to the S&P 425 Industrial Index. The S&P has been adjusted so that the index at January 30, 1970 is equal to 100. -Courtesy of Mansfield Charts 'I u'y g I �vry 1 3.3/31,47474 175 76 1-.o72I 60 " I % 30C Amer. Television • 1976 $ M 2m26 - — 2e res ----------- --- ---------- 1 Ift soI6 140 14, -- -- ---- ii 14 00I• - - - -'- nl $ 60 6 �µ § 1- 1 - xowae Rata 9c41e - - - --i;__:4- - --- - A i -2_ Tj aoz _ 2. leo 0 Iv::l l.:1 �r „ !�f'11 i1J^EI� :11': m71.4 ei mm tSi9'If': 11 E0 11 012 014 0121 014 016 0 9 021 024 0.29 %-267-77 273 333 273 333 35.7 750 71,4 81.2 C044 043 046 049 052 056 061 0.70 0.80 093 %-83 -2.3 6.9 6.5 61 77 89 14.7 143 16.2 May 26, 1976 Carole Lewis Anderson Assistant Vice President -Research Paine, Webber, Jackson & Curtis, Inc. makes an OTC market in A MTV's stock and was the managing underwriter of two common stock offerings, the latest of which was in November 1971. This bulletin is based on company reports, standard reference manuals and other sources which we believe to be reliable. It is not intended to be a complete description of the company(ies) referred to or its (their) securities and we do not guarantee its accuracy. Paine, Webber, Jackson & Curtis Incorporated and/or its officers, directors, employees or stockholders may, in the normal course of business, have a position, including an arbitrage or option position, in the securities mentioned above and may sell or buy them to or from customers. Paine Webber may also act as agent for both the buyer and the seller in connection with the execution of transactions in these securities. Any opinion or recommendations expressed are based upon information available to us and upon our general experience and judgement of securities. Table 3 American Television And Communications Corporation Summary of Consolidated Operations (all dollar figures in thousands except per share Items) Years ended June: 1977E % Chg. E 1976E %Chg,..E 1975 %Chg.1974 %ChR• 1973 %Chg• Revenues $49.500 18% 542,000 24.6% $33,707.4 26_1% 526,731.7 30.3% 520,511.2 38_6% Cable TV Service 46,900 40,000 24.2 32,193.6 26,8 25,389.2 29,3 19,638.1 38.4 % of Total 94. 7% 95. 2% 95. 5% 95.0% 95, 7% Other $ 2,600 $ 2,000 32.1 $ 1,513.7 12.8 $ 1,342.5 53.8 $ 873.1 44.3 % of Total 5.3% 4. 8% 4. 5% 5. 0% 4. 3% Expenses Operating 511,880 11 510,710 18.6 $ 9.0.31.7 30.8 $ 6,903.0 35.8 $ 5,082.9 % of Revenues 24. 0% 25.5,',', - 26. 8% 25. 8% 24. 8% S. O. A. $11,575 17 $ 9,870 28.4 $ 7,689.2 18.4 $ 6,493.0 27.5 $ $ ,091.8 % of Revenues 23. 4% 23. 5% 22. 8% 24. 3% 24.8% Operating Income 526, 045 22 $21, 420 26. 1 $16,986.5 27.4 513, 335. 8 29.0 $10, 336.5 Operating Margin 52. 3% 51% 50.4% 49. 9% 50. 4%. Depreciation & Amortization $11.000 22 $ 9 .115 11.3 $ 8, 192.9 21.6 $ 6,739.5 18.4 $ 5,692.0 % of Revenues 23.0' 21. 7% 24. 3% 25. 2% 27. 8% Interest Expense. net $ 6,200 31 $ 4,900 8.7 $ 4,505.7 23.8 $ 3,639.2 51.4 $ 2,403.5 %. of Revenues 12.5% 16.7% 13.4% 13. 6%. I I.7% Pretax Income $ 8, 845 l9 $ 7 .405 72.7 $ 4,288. 0 45.0 $ 2,957. 1 32, 0 $ 2, 241.0 Pretax Margin 17.9% 17.6% 12.7% 11. I% 10.9% Provision For Income Taxes $ 3.715 11 $ 3,332 $ 1,882.0 $ 1,055.0 $ 1,078.0 Effective Tax Rate 42% 45% 42. 5% 35.7'% 48. 1% Income Before hxtra. Items $ 5, 130 26 $ 4.073 65.2 $ 2,466.0 29.6 $ 1,902. 1 63.6 $ 1, 163.0 A ftertax Margin 10. 4% 9.7% 7. 3% 7. I% 5.7% Tax Benefit From Loss Carry Forwards 0 - - - $ 958 0 • Net Income $ 5, 130 26 $ 4,073 65.2$ 2,466.0 29.6 $ 1,902. 1 (10,3) $ 2, 121.0 Net Margin 10.4% 9.7% 7.3%- 7. 1% 10.3% Preferred Dividend 470 465 452.5 448.4 109.9 Net Income Available For Common $ 4, 660 29 $ 3, 608 79, 2 $ 2, 013.4 $ 1,453. 7 $ 2.011, 1 Earnings Per Share Before Extraordinary Items $ L 40 30 $ 1.08 77.0 . $ .61 32.6 $ 0.46 76.9 $ 0.26 Extraordinary Items - - 0.34 Net 1.08 77.0 .61 0.46 0. 60 Weighted Average Shares Outstanding 3,330,000 3,330.000 .8 3,303,826 compound annual growth rate for four years: 1970 company had operating losses. Source: Basic data American Television and Communications annual reports; Paine, Webber, Jackson & Curtis, Inc. estimates. 3, 149.926 2,815,420 1972 %Chg. 514.798.2 30_6% 14. 193, 2 30. 1 95. 9'f $ 605.0 43.5 4. 1% 43.5 5 3,54:3.I 19.5 • 23. 9%. 48. 1 $ 3, 438.3 48.3 23. 25'„ 32.2 $ 7,816. 8 29.2 52.8(4 • 34.9 $ 4, 220.5 23.9 28. 5' 15.2 $ 2, 087.0 14.7 14. li. 48.5 $ 1,509.3 83. 5 10. 2%. $ 815.0 54.0% 67.5 $ 694.2 95_3 4.7%. $ . 758. 0 46. 1 $ 1,452.2 98.;3 . 9.8% $ 1,452.2 160.0 $ .10 .32 .42 1971 $11,331.4 10,909. 8 96. 3% $ 421.6 3.7% Five Year C..A.G.R. 1975-1970 31% $ 2.964. I • 26. 2% 5 2.318.4 20. 5';. $ 6, 048.9 31 53. 4'7 W $ 3, 407.5 30. I% $ 1,819.1 16. 1'. $ H22. 4 50' 7. 3%. $ 467. 0 56. 8% $ 355.4 66' 3. 1% $ 377.0 $ 732.4 :35' 6.5% $ 732.4 $ (0. 03) . 17 . 14 2, 382. 087 2. 172. 169 Years Ended June - 1976 1Q 2Q 3Q 1975 IQ 2Q 3Q 4Q 1974 1Q 2Q 3Q 4Q 1973 IQ 2Q 3Q 4Q • Quarter Ended September 30 December 31 March 31 September 30 December 31 March 31 June 30 September 30 December 31 March 31 June 30 September 30 December 31 March 31 June 30 Revenues $ 9, 609 10, 130 10, 670 $33, 707 7,639 8, 291 8,674 9, 104 $26, 732 5, 881 6, 574 6,984 7,294 $20, 511 4, 500 5, 108 5,395 5, 508 Table 4 American Television & Communications Quarterly Operating Results (dollar figures in thousands except per share items) Percent Pretax Percent Pretax Tax Change Income Change Margin Rate 25.8% $1, 480 22.2 1, 675 23.0 1,941 26. 1% $4, 288 29.9 893 26.1 981 24.2 1, 129 24.8 1,285 30.3% 30.7 28.7 29.5 32.4 $2,957 586 714 756 900 38.6% $2, 241 499 572 505 665 1 Net income figures for 1973 are before extraordinary items. Source: American Television interim reports. 65.7% 15.4% 70.7 16.5• 71.9 18. 2 45.0% 12.7% 52.4 11.7 37.4 11.8 24.2 13.0 42.8 14. 1 32.0% 11. 1% 17.4 10.0 24.8 .10.9 49.7 10.8 35.3 12.3 48.5% 10.9% 11. 1 12.2 9.4 12.1 Net 1 Income 45.0% $ 814 45.0 921 45.0 1, 068 42.5% $2, 466 41.3 524 41.9 570 42.9 645 43.4 727 35.7% 36.7 35.3 34.7 36. 1 $1, 902 374 459 494 575 48.1% $1, 163 49.2 254 54.4 260 52.0 242 38.9 407 Percent Net Change Margin 55.2% 8. 5% 61.5 9. 1 65.7 10.0 29. 6% 40. 1 24. 2 30.4 26.4 63. 6% 47. 2 76.5 104. 1 41.3 67. 5% 7.3% 6.9 6.9 7.4 8.0 7. 1% 6.3 7.0 7. 1. 7.9 5.7% 5.6 5. 1 4.5 7.4 Percent E. P. S. Change $ . 21 75.0% . 24 71.4 . 29 81.3 $0. 61 32.6% . 12 33.3 - . 14 27.2 . 16 33.3 . 19 35.7 $0. 46 76. 9% . 09 50.0 . 11 120.0 . 12 200.0 . 14 27.3 $0.26 160.07 . 06 . 05 . 04 . 11. ( 350 300 250 200 150 100 50 CABLE TELEVISION INDUSTRY STOCK MARKET INDICES Pure composite market value Relative composite market value 1 J 1970 1971 1972 1973 1974 1975 1976 Cable"television index Source: Paine, Webber, Jackson & Curtis, Inc. .J S&P 425 industrials • n. I` CK STEL w a FlEi7rd:i9, PAC.. MCA: ERS: NEW YORK. AMERICAN ANO MIDWEST STOCK E XCHANGES RESEARCH I �,e RESEARCH DEPARTMENT Follow -Up Report 506 OLIVE STREET / ST. LOUIS, MISSOURI 63101 f(314) 421-0225 roti "S.-27" February 22, 1977 CATV STOCKS American Television and Communications ($20 3/4-$21 1/2) Cox Cable Communications ($19) UA -Columbia Cablevision ($16-$16 3/4) Viacom International ($13 5/8) WE CONTINUE TO RECOMMEND PURCHASE OF A "PACKAGE" OF CATV STOCKS. In the past few weeks, there have been three significant developments which, in our opinion, strongly reinforce our belief that favorable fundamentals in the CATV industry are. better recognized by corporations with a stake in the business than by investors. These include (1) Storer Broadcasting's ($25 -NYSE) proposal to make a cash offer for Viacom shares (this was dropped when Viacom's board indicated its opposition to the proposal); (2) the proposed tender offer at $10 per share for Cablecom-General ($9 3/4 -ASE) outstanding shares by RKO General, a wholly owned sub- sidiary of General Tire & Rubber ($28 -NYSE): and (3) the possible merger of Cox Cable with Cox Broadcasting ($30 5/8 -NYSE). Cox Broadcasting is currently reevaluating its previous proposal to issue 0.61 shares of its common for each of the 1,560,000 common shares of Cox Cable it does not already own. It may revise the terms or, alternatively, possibly abandon the merger plans. Storer owns CATV systems with more than 100,000 subscribers; Cox Broadcasting and RKO General currently own a majority of the outstanding stock of Cox Cable and Cablecom- General, respectively. In prior reports (copies available on request), we have recommended that investors purchase a package of CATV stocks, including American Television & Communications (AMTV), Cox Cable Communications (Cox), UA -Columbia Cablevision (UA -CC) and Viacom International (Viacom). These companies achieved excellent records of earnings growth in the early 1970's despite an adverse operating environment and are continuing to maintain rapid growth rates. We believe that (1) an improved regulatory environment, (2) the development and expansion of pay cable service and (3) more realistic CATV expansion programs are major factors enabling nearly all cable television operators to record dramatic earnings growth. Our analysis suggests that the four above- mentioned companies should sustain 15%+ to 30%+ compound annual earnings gains over the next three years. We believe that the Storer, Cox Broadcasting and RKO General proposals have served to rekindle interest in CATV stocks. In response to questions regarding relative attractiveness of individual issues, this report is prepared in a format to facili- tate comparisons of the companies. Our conclusion is that none of the four stocks appears to be significantly overvalued or undervalued vis-a-vis the others. Accord- ingly, we continue to believe the package approach to investment in the group makes sense. FIGURE 6 -2 - COMPARATIVE SIZE As shown below, AMTV ranks first among the four companies in number of subscribers, revenues and market value of outstanding shares. Cox Cable has the second largest number of subscribers, Viacom the third and UA -CC the fourth. Non -CATV revenues account for about 37% of Viacom's revenues. As a result, it ranks second in corpor- ate revenues. MEASURES OF SIZE Basic Pay Calendar Calendar Present Market Cable Cable 1976 1976 Net Value (MM) of Subscribers Subscribers Revenues (MM) Earnings (MM) Common Stock** American Television and : Communications 576,000 32,000 $46.8 $5.03 $81 ox Cable Communications 427,000 58,000 37.9 3.71 68 uA-Columbia Cablevision 212,000 41,000 21.1 2.25 , 30 Viacom International 337,000 33,000 44.2* 3.61* 50 *12 months ended September 30, 1976 *Based on assumed conversion into 466,440 common stock of AMTV convertible preferred stock at average prices of about $18 per share and UA -CC convertible subordinated note into 136,364 common shares at $11 per share. COMPARATIVE GROWTH --1976 In the 12 months ended December 31, 1976, AMTV, by most measures, achieved the most rapid growth of the four companies, with Viacom achieving the least growth. For reasons detailed in our January 25, 1977 report, we expect Viacom's growth to accel- erate considerably in 1977. The other three companies are expected to maintain rapid growth in 1977. MEASURES OF GROWTH --12 MONTHS ENDED DECEMBER 31, 1976 Increase % Increase % Increase Revenues Subscribers EPS (Fully Diluted) American Television and Communications 25% 19% 66% Cox Cable Communications 29% 10% 30% UA -Columbia Cablevision 23% 10% 38% Viacom International 14%* 4%* 16%* *12 months ended September 30, 1976 COMPARATIVE PROFITABILITY - Each of the four companies in the past 12 months has significantly improved its return on equity. We believe each has the potential for continued improvement. Of the four companies, Cox Cable has, by a considerable margin, the highest current return on equity. fJ 1. RETURN ON BEG. STOCKHOLDERS' EQUITY --12 MONTHS ENDED DEC. 31 American Television and Communications 12.4% Cox Cable Communications 18.8% UA -Columbia Cablevision 13.2% Viacom International 12.8%* *12 months ended September 30, 1976 COMPARATIVE FUTURE GROWTH EXPECTATIONS THROUGH 1979 Our analysis suggests that of the four companies, American Television and Communi- cations, the most aggressive builder of new CATV systems, clearly has the greatest potential for rapid earnings growth over the next three years. While AMTV is cur- rently well satisfied with penetrations achieved in newly completed systems, there are risks associated with its ambitious new system development program. As shown below, AMTV is among the most financially leveraged of the four companies and, reflecting its building program, has greater deferred system development costs than the others. ESTIMATED AVERAGE ANNUAL EPS GROWTH RATE --YEARS 1976 THROUGH 1979 American Television and Communications 30%-35% Cox Cable Communications 20%+ UA -Columbia Cablevision 15%+ Viacom International 25% COMPARATIVE CAPITALIZATIONS AND DEFERRED SYSTEM DEVELOPMENT COSTS All of these four companies have leveraged capital structures. Of the four companies, UA -Columbia Cablevision and Viacom have the lower debt-to-equity ratios. Cox Cable has the least debt/subscriber. Reflecting lenders' confidence in their creditworthi- ness, American Television and Communications, Viacom and UA -Columbia Cablevision all have some borrowings at the prime rate. CAPITAL STRUCTURES AND DEBT PER SUBSCRIBER AS OF DECEMBER 31, 1976 Stockholders' Equity (MM) Debt/Equity Ratio Debt/Subscriber American Television and Communications $40.4 1.4X $113 Cox Cable Communications 23.5 1.4 79 UA -Columbia Cablevision 18.4 1.0 90 Viacom International 32.3* 1.1 • 107 *As of September 30, 1976 -4 - As described in prior reports, each of these companies defers system development costs in order to match revenues with costs incurred to produce those revenues. Such costs are amortized over a period ranging from five years (Cox Cable) to 15 years (UA -Columbia Cablevision) from the date the development period ends. Of the four companies, AMTV has deferred the most costs (per subscriber), Viacom the least. DEFERRED SYSTEM DEVELOPMENT COSTS AS OF DECEMBER 31, 1976 American Television and Communications Cox Cable Communications UA -Columbia Cablevision Viacom International *As of September 30, 1976 Amount of Deferred Costs/ Deferred Costs (MM) Subscriber $5.3 2.2 0.7 0.4* $9.20 5.10 3.40 1.20 COMPARATIVE STOCK TRADING ACTIVITY - Of the four stocks, Viacom is, by a considerable margin, the most actively traded, with 778,500 shares traded in January, 1977. Storer Broadcasting's proposal, since abandoned, to pay $15 cash for each Viacom outstanding share, undoubtedly contri- buted to the recent surge in activity. AMTV consistently has been the second most actively traded stock. Activity in Cox Cable in recent weeks has picked up as a result of the possible merger with Cox Broadcasting. American Television and Communications Cox Cable Communications UA -Columbia Cablevision Viacom International *Over the past 12 months TRADING ACTIVITY Shares Estimated Avg. Monthly Outstanding (MM) Float (MM) Trading Volume* 3.4 2.4 88,000 Shares 3.6 1.5 38,000 Shares 1.7 1.1 22,000 Shares 3.6 3.2 196,000 Shares COMPARATIVE P/E'S AND MARKET VALUATIONS PER SUBSCRIBER In prior reports, we have evaluated CATV stocks on the same basis we evaluate most other stocks, with emphasis on P/E ratios based on current and future anticipated earnings. We continue to believe that this is the most valid valuation method. At current prices, based on our estimates of fully diluted calendar 1977 EPS, the four stocks trade at from 10.5 to 14.6 times earnings, with the highest P/E afforded Cox Cable shares, the lowest UA -Columbia Cablevision and Viacom. Limited trading activity in UA -CC stock precludes it from getting as high a multiple as AMTV or Cox Cable. The valuation of Viacom, because of its non -CATV operations, poses certain problems. In our opinion, Viacom's non -CATV operations, while highly profitable and currently growing rapidly, do not deserve as high a P/E as do CATV operations. How- ever, offsetting this to some extent is the greater trading activity in its shares. All things considered, we do not consider any of the stocks to be significantly over- valued or undervalued vis-a-vis the others. American Television and Communications Cox Cable Communications UA -Columbia Cablevision Viacom International P/E RATIOS Price $20 3/4-$21 1/2 $19 $16-$16 3/4 $13 5/8 Est. Calendar P/E Based on 1977 EPS Est. Calendar (Ful. Dil.) 1977 EPS 1.75 1.30 1.50 1.30 12.1X 14.6X 10.9X 10.5X While we have emphasized P/E ratios in valuation of CATV stocks, we note interest in comparative market values per subscriber. We caution against over -reliance on this statistic for several reasons. First, certain CATV companies, notably Viacom among those that we follow, have sizable and profitable non -CATV operations. Hence, the relationship of market value of outstanding shares to number of Viacom CATV subscribers is rather meaningless; a portion of its market value should be attributed to non -CATV operations. Secondly, utilization of this relationship ignores present and future profitability. A potentially highly profitable CATV system should be valued at more/subscriber than a marginally profitable one. A buyer will typically pay more per subscriber for a developed system where there is potential to increase penetration and where ancillary services such as pay TV can be offered, than for a mature system. Finally, subscriber count is typically determined on a first - connection basis. Multiple connections in homes, motels, institutions, as well as frequent company ownership of less than 100% of CATV systems, tend to distort true comparisons in subscriber count between companies. • With these caveats in mind, we present on page 6 updated comparative market valu- ations per subscriber for the four companies. The -four stocks all are selling within a fairly narrow range of $141 to $159 per subscriber. • American Television and Communications Cox Cable Communications UA -Columbia Cablevision Viacom International -6- PRESENT MARKET VALUE/SUBSCRIBER Market Value (MM) Market Value/ Common Stock Outstanding* Subscribers Subscriber ` $81 68 30 50 ,'576,000 427,000 ` 212,000 337,000 $141 159 142 150 *Based on assumed conversion into 466,440 common stock of AMTV convertible preferred stock at average prices of about $18 per share and UA -CC convertible subordinated note into 136,364 common shares at $11 per share. David Soshnik, C.F.A. February 22, 1977 Any opinions expressed herein reflect our judgement at this time and are subject to change. The information contained herein has been obtained from sources which•we consider reliable, but is not to be construed as representations made by us. nor is the above data to be regarded as a prospectus offering securities for sale, or as a solicitation of any proxy. Scherck, Stein & Franc, Inc. and/or its individual officers and employees and/or members of their families and its Employees' Profit Sharing Trusts may have a position in the securities herein mentioned, may make purchases and/or sales of these securities from time to time in the open market or otherwise, and may have acted as an underwriter in connection with past distributions of securities of the issuers herein mentioned, and as a broker/dealer in connection with the purchase and sale of securities for employees' benefit plans of certain of the above issuers. Scherck, Stein & Franc, Inc. makes a primary trading market in American Television and Communications and UA -Columbia Cablevision common shares. SECTION III: SERVICE TO THE COMMUNITY American Television and Communications Corporation is committed to providing the very best in cable television ser- vice to the greater Ithaca area. High quality service and efficient system operations are traditional at ATC, and so is our history of meaningful community service. And, we look forward to sharing with you the benefits of our many years' experience in the cable TV industry. Figure 7, following, contains reproductions of typical letters received regularly by ATC system locations throughout the country. Government officials, representatives of philan- thropic organizations, educators and cable TV subscribers fre- quently take time out to write us about the services our com- pany is providing to their communities. We believe these letters support our claim that ATC is committed to serve in the public interest and is, indeed, a company dedicated to the provision of the very finest in cable television enter- tainment and service to its customers, nationwide. -21- .Letters of Commendation The following pages are reproductions of typical letters ATC receives at its many system locations throughout the country. Government .officials, representatives of philanthropic organizations, educators and cable TV sub- scribers frequently take time out to write us about the service our company is providing to their communities. We believe these letters support our claim that ATC is, indeed, committed to serve in the public interest. CAPITOL BROADCASTING COMPANY, INC. WRAL m\N GENE WALSH DIRECTOR OF OPERATIONS CHANNEL—altaw.--- - T V TELEPHONE (919) 82B-2511 P. O. BOX 12000 2619 WESTERN BOULEVARD RALEIGH, NORTH CAROLINA 27605 Mr. Jim Kofalt Cablevision of Raleigh 1609 Old Louisburg Road Raleigh, North Carolina 27608 Dear Jim: Many thanks to closed circuit Cerebral Palsy camera the sincerely hope April 17, 1975 you and your organization for hooking up the monitors within the coliseum for this year's Telethon. The ability to see this show on as it was being staged contributed a new dimension to coliseum's audience. We had many favorable comments and we can count on next year's program. GW/lp cc: Eric Ritzen you in Sincerely, ,? Gene Walsh I FIGURE 7 RED CROSS CAMPFIRE GIRLS 60Y SCOUTS U. S. O. Dear Sam: rr ee OF NORTHWESTERN KAY COUNTY 110 WEST COLLEGE 9 PHONE 363-1738 BLACKWELL. OKLAHOMA. 74631 December 3,1976 ASSOCIATED CHARITIES HEART FUND OPPORTUNITY CENTER BLACKWELL YOUTH PROGRAM By now we hope that you have revived completely from all the work and participation that you took part in the or- ganization and work in the Telethon. Blackwell needs alot more people like you and then it would- n't be so hard to get things accomplished. We know all the hours and hours and days of work it took and the putting it together was a tremendous job and we could- n't have had the Telethon without you. We deeply appreciate all the time and effort you and your staff put into the United Fund this year. May you have a very Merry Christmas and a happy New Year. THANKS TO YOU IT WORKS For ALL Of US: Sincerely, Linda United Fund Secretary �+..✓^:.":,SZ:2 ��Fi+r�:'� �.'K_i �G'.uY 'zreY• �+ri+z:ns.rYY `?.i.Sts.��V9 P. 0. BOX 350 13 LA.CUWE LL, OKLAHOMA 74631 September 24, 1976 Mr. Sam Shirley Fidelity Cables, Inc. 124 E. Blackwell Blackwell, Oklahoma 74631 Dear Sam: In reviewing my experience with you and Fidelity Cables, no word is more descriptive than excellent. Your service to Blackwell has been steady and dependable in good times and times of emergency. The good service that Fidelity provides is very much dependent on the physical system, but the intangible quality of leadership and control must be attributed only to you. The City of Blackwell has experienced cooperativeness, patience, knowledgeable assistance, and good public service from Fidelity Cables. Your knowledge of the cable -vision industry combined with progressive spirit of public responsibility is a tremendous asset to our community. I will close by saying good luck and keep up the good work. Sincerely, CITY IF BLA KWELL Chuck Smith City Manager CAS:nk CI■■IEFIOKEE AFlEA COUNCIL. JOHN S. BALL PRESIDENT C.R. MUSGRAVE, JR. COMMISSIONER April 7, 1976 Mr'. Bill Thomison, Manager Cablevision 210 SE 2nd. Bartlesville, Oklahoma 7).003 Dear Mr. Thomison: E.C. MEHLHORN, JR. SCOUT EXECUTIVE We wish to commend Cablevision for the cooperative attitude and safety conscious concern evidenced by the assistance provided Explorer Post 150 in removing limbs dangerously close to overhead wiring at their project site. It is only with willing help, such as yours, that our young people live safe, but eventful, lives. JL : ea A UNITED FUND AGENGY PHONE (918) 336-9170 Sincerely, eb rd�`��" Advisor, Explorer Post 150 ADAMS & DEWEY, P. O. DRAWER U BARTLESVILLE, OKLAHOMA 74003 Maryville Chamber of Commerce Wayne A. Swanson Executive Secretary PHONE 816-582-5391 211 NORTH MAIN STREET MARYVILLE, MISSOURI 64468 February 14, 1977 Mr. Robert Price, Regional Manager American Television Communications Corp, 300 Fillmore Denver, Colorado 80206 Dear Mr. Price: We have had the services of Maryville Cable TV in Maryville for a numberof years and many of our residents are as dependent on this firm as they are for the services provided by the utilities and our city. Maryville is located in a fringe television viewing area and only through the channels available with cable can the citizens have a choice of programs with outstanding reception. The elderly and those confined, as one group, are alert, have an interest in the world about them and enjoy the time they watch television because of available program select— ion. Constant information on weather conditions is appreciated by all customers as an added service. Maryville Cable ,TV is a reliable and respected firm which conducts its operation to the satisfaction of its customers and the community. Repairs are made promptly and the employees are efficient and bear evidence of thorough training for their jobs. It would be restrictive for our citizens to have television without the many channels provided by cable, and we believe Maryville Cable TV has earned a continuation to provide a necessary service for Maryville, Missouri. Sincerely yours, WAS/vg ayne . wanson Executive Secretary Home of Northwest Missouri State University NORTHWESTERN BANK 107 North First Street, Box 1 1 1 Montevideo, Minnesota 56265 612/269 6565 February 9, 1977 Monte Cable Div 'of American TV & Communication, Inc. Attn: Mrs. Anne Weflen 539 South 1st Street Montevideo, MN 56265 Dear Anne: ANCO I am writing this letter to express our satisfaction with the cable service we have been receiving. We greatly appreciate the new advertising services offered through the new channel 6. We have received favorable comments from our customers who have watched various ads and notices, not only from our business but also for other adtivities happening around town. The Montevideo area is very fortunate to have all the cable channels available to us. I have, in fact, heard of cases where people from out of our area have come to Montevideo just to watch a particular event because it is carried on the cable and they cannot receive it. Again, Thank you. (Mrs.) Pearl Stempson Vice Pres & Cashier PS:ch Northwestern State Bank of Montevideo BUREAU OF RECREATION CITY OF READING CITY HALL, READING, PA. 19601 August 26, . 1976 Mr. Earl Haydt, General Manager Berks - Suburban Cable TV 1112 Muhlenberg Street Reading, Pa. 19602 Dear Mr. Haydt: On behalf of the Reading Bureau of Recreation, I wish to formally thank the management and staff of Berks Cable TV for their cooperation in the production of "What's Happening", the Recreation Bureau's weekly community service series about "Recreation in Reading", which was shown throughout the summer on Cable Channel 9. It was a real pleasure to work with Mr. Braun again this summer and, late in the season, with Ms.. Stevenson, his replacement. Both Liz and Paul were very conscientious in their assistance to us. We at the Recreation Bureau thank you for helping to make the 1976 playground season the successful summer it was. i Sincerely, AL , GARY E COPELAND Supervi or of Publicity cc Mr. Paul Braun •Ms. Liz Stevenson mm (lIit f !irminiam WILLIAM E. BAKER OFFICE OF THE CITY COUNCIL COUNCIL ADMINISTRATOR February 11, 1977 Mr. Sid Burgess General Manager Birmingham Cable Communications, Inc. P. O. Box 2974 6429 lst Avenue, South Birmingham, Alabama 35212 Dear Mr. Burgess: CITY HALL BIRMINGHAM, ALABAMA 35203 PHONE (205) 254-2294 As the person assigned to assist the Birmingham Cable Television Commission in its duties, I have read your company's Affirmative Action Plan and believe it to be a very well constructed document that sets out meaningful goals for hiring and recruitment for. your firm. The City of Birmingham has an ordinance requiring each department of the city to prepare an Affirmative Action Plan. I have also,had the opportunity to review the various department's Affirmative Action Plan for the past three years and find that in comparison your company's Affirmative Action Plan far exceeds the city departments in setting goals for minority hiring and a means to achieve these goals. In essence, therefore, I would suggest that your company's Affirmative Action Plan could serve as a model for city departments in future years. WEB:sh BIflMI amtruu u*. Sincerely, �fJE`C`G/GC William E. Baker Council Administrator, City of Birmingham Office of tip City Imager C. C. VAN BUSMAN 4nbepenbelua, Xtansas 07301 February 16, 1977 Mr. Vern Wihle Cablevision of Independence 213 East Main Independence, Kansas 67301 Dear Vern:. We want to thank you for your support of our Civil Defense program. .As you know, we have the cable service connected with the police dispatching room and this enables us to over- ride TV programs and gives serious announcements relative to emergency information. This is another added protection for the citizens of Independence and is greatly appreciated. Indirectlythrough your efforts in this cable service, we were able to get more sirens located in Independence. This also provides better coveragefor our city. Many, many thanks for your efforts. Also, we appreciate your personal consideration to this office and this city in keening us posted and up-to-date on TV cable services. Yours v=ry truly C. C. Van Buskirk City Manager CCVB:mm cc: Mayor Gollhofer Chief Stan Lewis Homan or EDUCATION MR. L. C. HUNTER, C'NM•N.. M. ROBERT KNOWN, VICU C•NM•N.. •l*V.R DAY MR. ROBERT MADAN, DUNOEE MR. RICHARD FLESHIER, MR. T. L. FORD. ■NANCM WN BOARD MEETS FIRST MONDAY AT 7 00 P. M. TELEPHONE 298-3249 VI hit Ettunt14riu i 1s pathel Sat Ritgrriutentient gliatfazit, artsItturkg 42347 February 11, 1977 Mr, CharlesWilliams, Manager Ohio County Cablevision Beaver Dam, Kentucky 42320 Dear Mr. Williams: W. M. MARTIN FINANCE OFPICAR EARL annarll OIRUCTOR OV PUFIL PUASONNIL WILLIAM D. SNODGRASS IEOR This letter is to advise you of the excellent reception that we have had with your cablevision service to our four (4) schools, namely, Wayland Alexander Elementary, Ohio County High, Ohio County Middle School, and Beaver Dam Elementary. I have visited the classrooms and observed that'the utilization of T -V receivers is much more frequent and regular than in the past. With the good and guaranteed reception every time the set is "turned on" makes for better correlation with subject matter taught by teachers and Kentucky Educational Television. The cablevision has caused the KET Program to recieve increased use by the students at all levels. Thank you for making the cablevision available to the Ohio County schools which added greatly to our over all education program. Cordially, OHIO COUNTY SCHOOLS Earl RusJ KET'Co-Ordinator HOP$INS COUNTY SENIOR CITIZENS CENTER 200 N. Main — Madisonville, Ky. — 42431 502-821-9173 December 27, 1976 Dear Sirs: I want to personally thank you for providing our Center with free Cablevision during this past year of 1976. This is a great service to our Senior Citizens and th9y enjoy it so very much. Your interest and support to the Senior Citizens of Hopkins County is greatly appreciated. Sincerely, Charles B. Ridgway Director CBR/dp MURRAY, KENTUCKY- 42071 Mr. Mike Colyott, Manager Murray Cablevision Company Bel -Air Center Murray, KY 42071 Dear Mr. Colyott: , HEADCUARTERS KENTUCKY LAKE INFORMATION February 8, 1977 It has been my pleasure to have known Murray Cablevision and all of its personnel since its inception in Murray. Having been employed in radio, television and communications for ten years, I have expressed more than a passing interest in the internal and technical operation of the entire system. While there will always be problems with electronic technology, it is my belief that Murray Cablevision has had less problems than any sys- tem that I know. While we have received very few complaints, those that we have received all dealt with delays in installation. In every case referred to us, your staff has remedied the problem on the same day or the next day. Picture transmission quality of the system is excellent. In most cases, the signal is greatly enhanced at the point of reception and almost totally free of spurious radiation. The constant upgrading of your equipment and competence of your staff is responsible for excellent reception on VHF and FM bands. Your transmission of TV signals from the TV studios of Murray State University is commendable. In the interest of the future growth of Murray and Calloway County, we urge you to keep constant vigilance to insure that our system remains excellent. Cordially yours, ames L. Johnson mob✓ JOHN D. McCLEARN CO-ORDINATOR OP INSTRUCTION Timmins%e . xce ander chins Gaunt gripaIs 208 NORTH KENTUCKY AVENUE MADISONVILLE,KENTUCKY 42431 February 11, 1977 Mr. Jerry Buchanan Madisonville Cablevision Madisonville, Kentucky 42431 Dear Mr. Buchanan: PATRICK L. MCNEIL SUPERINTENDENT I would like to take this opportunity to express my appreciation to you and members of your staff for the assistance you have given this past year to the Hopkins County School System. We find daily that we are long on problems and short ontechnical know how when it comes to television distribution systems and related equipment. Both I and other members of the administrative staff have a lot of confidence, however, that we have expert assistance locally who is willing to help. At the present time we have close to 175 televisions receivers in our 20 schools. Ten of these schools are receiving free cablevision service that feed directly into classrooms that are utilizing ETV. We have approximately 120 teachers who are using ETV regularly. We also hope to be able to continue to telecast locally originat- ed programs through the use of Madisonville Cablivision. This project has been very favorably received in recent years. I look forward to the increased utilization of television as an instructional aid. I likewise look forward to our continued working relationship that I have enjoyed in the past years. Your cooperation is very much appreciated by the Hopkins County Board of Education. Sincerely, JDM/jm 7774V -64A -v -i John D. McClearn OFFICE OF THE CHIEF OF POLICE Mr. James Cooper WOTT—Channel 4 Florida Cable Television 1420 North Harbor City Blvd. Melbourne, FL 32901 Dear Mr. Cooper: CITY OF PAL M BAY FLORIDA P. O. DRAWER 338 • 32905 April 23, 1975 Ihave been meaning to write to you for some time to thank you for the fine service you are providing to the community through your television station, WOTT. Mr. Ray Henderson has on many occasions had myself, members of our department, and other law enforcement personnel on his, "Insight and Persons, Places and Things" program. By his keen interest and personal knowledge of law enforcement and how it must be an intricate part of community life, has greatly assisted law enforcement in the development of many of our programs. The mutual benefits between law enforcement and the television media has promoted candor, cooperation and a mutual respect. Your aggressive approach in presently timed public information programs, rather than merely relying on an occasional news inquiry, has certainly enhanced the public's right•to know philosophy. Your television station has provided an excellent means for reporting on police activities. The free exchange of question and answer periods on specific subject matters will arouse the interest ' of many people who may, be unaware; of the role of the police or its function. Our panel discussion in the past months will undoubtively create a better understanding of the police purpose. If the public understands and can appreciate the nature of the police role, they can then better judge our activities in their proper perspective. "CITY WITH A FUTURE" Mr. James Cooper Page 2 April 23, 1975 Our success in the administration of any police activity rest on a sound foundation of public support that will gain the trust and respect of the community. You, through your service, has contributed greatly to this effort. Sincerely yours, DEPARTMENT OF PUBLIC SAFETY Lretk Franklin T. De Groodt Director kma •UNITED STATES NAVAL ACADEMY INFORMATION PROGRAM Annapolis, Maryland 21402 IN REPLY REFER TO: January 18, 1977 Mr. Jim Cooper Manager Florida TV Cable 1420 N. Harbour City Blvd Melbourne, FL 32935 Dear Mr. Cooper: I have been delayed in writing this to you because of the work load that piled up while I was in Washington, D.C. and Annapolis for USNA Alumni Homecoming. The program you and your people made possible on Channel 4 with Hal Bryant and Midshipmen Fiorelli and Wilson was out- standing. I only wish it could have video taped so a copy could be sent to USNA in order to show other Operation Info (OP INFO) Midshipmen how a 2 hour program on TV could be used in order to effectively carry out their OP INFO Mission. Permit me in the name of the United States Navy and the Superintendent of the United States Naval Academy, Rear Admiral Kinnaird R. McKee USN,to thank you and Florida TV Cable, Inc. for this service to your Country's Security. Sincerely, Robert C. Wing, Commander USN Ret OP INFO Officer for Melbourne -Eau Gallie Area P.O. Box 1134/222 Southgate Blvd. Melbourne, FL 32901 "From Knowledge Sea Power" a s Manager Beloit Cable TV Pleasant & Grand Aveo Beloit, Wisc. 53511 Dear Sir: December 22, 1975 Our sincere THANKS and the best wishes for 1976 to you and your staff. 1°. goodwill Your interest and contributed time presenting the story of Abilities Center Goodwill Industries what it means in the program of rehabilitation to the area handicapped to your audience is truly appreciated. Your help made it possible for Goodwill, not only to maintain its record of service, but to increase its service in rehabilitation and training. The total service encompasses nearly 600 clients annually with a daily treatment center service to some 120 disabled. The disabled workers at Goodwill want to thank you for giving them a program of learning and earning. Goodwill depends upon your help and influence to gain public supporta, Without the aid of the public, Goodwill would automatically terminate. The board of directors and staff sincerely appreciate your help and hope we can merit your support in the future. Sincerely, ABILITIES CE TER GOODWILL INDUSTRIES 4 Alfred H. Soldwish Director of Community Relations AHS/ls ROCKFORD GOODWILL INDUSTRIES, INC./1907 KISHWAUKEE STREET, ROCKFORD, ILLINOIS 61101/(815)965-3795 unItedWay I_s AN INFORMATION, EDUCATION AND REHABILITATION CENTER Baker County Council on Alcohol and Drug Problems POST OFFICE BOX 331 Services: BAKER, OREGON 97814 Detoxification Center -523-6017 Outpatient Counseling Residential Can DUIL Program Family & Individual Therapy Screening Evaluation Programing Cablevision 1802 Main Baker, Oregon Dear Sirs: BOYD D. SHARP Executive Director 523-2793 January 27, 1977 It is indeed gratifying when a worthy cause gets the wholehearted support of the community. The Annual Dinner of the Baker County'Council on Alcohol and Drug Problems was an outstanding success and the Council wishes to express its heartfelt appreciation for your part in making this affair the success it was. We had a record attendance of over a hundred interested people from the Baker community who participated in the dis- cussion on drinking and driving problems. Again, thank you for a job well done. BDS/ph Faithfully yours, Boyd D. Sharp Executive Director P.O. Box 847 Fourth Street, La Grande, Oregon 97850 (503) 963-4051 OREGON LUNG ASSOCIATION, Eastern Region February 11, 1977' Mr. Tom Cook, Manager . Cablevision 1411. Adams Avenue La Grande, Oregon 97850 Dear Tom: 1 wish to express a belated but appreciatdve thank you to Cablevision for their generous public service contribution to the Oregon Lung Association. We thank you for your cooperation in running our color video tape on "Air Pollution—The Facts" during Cleaner Air Week and for running our public service announcements over the weather scan. The service you have provided the Oregon Lung Association has helped make our program activities more successful. Christmas Seals fight lung diseases . Haberlach 1 Director astern Region (-Oregon Lung Association Formerly Oregon Tuberculosis and Respiratory Disease Association �i$SQYC IDunt 1thIrartt P. O. BOX 1346 [Iuntbertau, Xortfl Cturulintt 28358 February 15, 1977 Mr. Gary Gregory Cablevision of Lumberton P. 0. Box 1365 Lumberton, N.C. 28358 Dear Gary: Just want you to know that we appreciate having cablevision in Lumberton. I presently watch only 3 hours of television a week (a new high), and it is all on channel L., which I could not get without cablevision. Would there be any possibility of discussing some kind of arrangement to have a TV cable run into the library so that we could use particular programs for viewing in the library, possibly in connection with some kind of programming? I would be very interested in seeing if we could work something out on this count. DRT/lrb Sincerely, aV�' Diana Ray Director MINISTERS: Martel Pace 304 Clayton 888-3818 SOCIAL WORK DIRECTOR:' Bob Sisk 613 Homecrest 888-6387 MISSIONARY: Bill Wilson Cologne, Germany ELDERS: Russ Burcham Finis Caldwel,1, Sr. Bob Sisk Earl Young SLICER STREET, P. 0. Box 282 - Kennett, Missouri 63857 Phone: 888-4739 February.4, 1977 Mr. Tom Legan Kennett Cablevision Kennett, Missouri 63857 Dear Mr. Legan: We wish to express to you our profound gratitude for your cooperation over the past two years. Without your assis- tance and that of your company we would not have been able to provide services to the community and to our church that we think have given us a tremendous outreach for the Gospel of Christ. I know of no comparable situation in the country where a company has been as generous and helpful. We believe the video-taped programs we are able to make and play over your system have been an asset to our work. My only regret is that we have not adequately and regularly expressed our appreciation to you for this service. Sincerely, (9409 Martel Pace, minister 101 SOUTH FIRST ET. FIRST NATIONAL BANK IN MONTEVIDEO PHONE 269-6587 MONTEVIDEO, MINN. 56265 O. B. REKOW PRESIDENT P r.roh. 2, L9977 Monte CaLle, Inc. Montevideo, Minnesota Attention: John Falconer, Manager Dear Juin: I, like so many others, am guilty of taking a number of good things for granted. 0 -le of ,hese is Monte Cable and the many special services it renders the community and its citizens. I feel that you and your associates deserve a pat on the back for a number of reasons. First of all, I want to compliment you on the excellent way in which you attend to the affairs of the company, and all of your other personnel perform in such an excellent businesslike manner, but yet are always rrrost personable and friendly. in addition to this, calls for service and/or information are answered and attended to promptly and, again, in a very friendly manner. Tree local news, which has just recently been added as an all -day feature on' Channel 6, is a tremendous public service, especially because of the vehicle it provides for airing notices of meetings and a wide variety of activities of local and area interest. 1 know, from con,aentc I hear.from time to time from others, ti rat this service is very widely app recia ted. • We shall continue, from time to time, furnishing a portion of our lobby to tele- v.LsLon deal rs for doinonstra't:ions of TV sets i.lioy have for sale. We make this space available i ; all dealers within OUI:' r;orririiliniLy and over t e years you have coop- erated with us. in providing this service to the TV dealers by furnishing. us with a free cable hookup.. I want to, boilh personally and on behalf of the'local TV dealers:,, express deep appreciation for this type of cooperation. In closing, I want also to compliment you and your associates on the excellent way in which yoa got hundreds of cable hookups re -connected after one of the worst ice —storms ever to hit our area. Again, it is a pleasure to deal with people who are very tired and have worked hard for long hours, who remain friendly and personable and are so determined to have everybody taken•care of at the earliest possible time. Monte Cable is, indeed, an asset to our community in every respect, and I would appreciate very much if you would forward this letter, or a copy thereof, to your regional manager:and appropriate personnel in.the Denver office of ATC. OBR:mw 0. B. Rekow President 1 CITY OF UNION CITY eouncil-`i'Ylanager (-government May 25, 1976 Mr. Kenneth Vaughn, Manager Clearvision TV Company 311 South Second Street Union City, Tennessee Dear Kenneth: POST OFFICE BOX 9 - TELEPHONE 901-885.1341 UNION CITY, TENNESSEE 38261 On behalf of the City Council we wish to extend our sincere appreciation for your personal efforts expended to install the new cable alert system in Union City. You and the American Television and Communications Corporation are to be commended for the financial commitment you made on this project. At the initial test of the system, all members of the Council were extremely impressed with the quality of the broad- cast and its ability to communicate an emergency message in, such a quick time. We know that this system will prove to be a valuable part of our civil defense program in the years to come. DG:ra Yours truly, C> a= L// Darrell Gore Mayor 138 MIGEON AVENUE • TORRINGTON, CONNECTICUT 06790 Larry Carlson Michael Suhanowski Laurel Cablevision, Inc. 339 Main Street Torrington, Connecticut 06790 Dear Larry and Mike, The • TELEPHONE 489-3137 INCORPORATED February 17,1977 I would like to take this opportunity to thank you and express my deep graditude for the cooperation and help you showed me in our efforts to put on the live,color March of Dimes Telethon. As youknow, this was the first time in the history of the Torrington March of Dimes that a program such as this took place. It was a gamble that really paid off. It is also a credit to the facilities of Laurel Cablevision, Inc. The Telethon reached between 30,000 and 40,000 people during the course of the day. Everyone that I have talked to said the reception was excellent. They were glued to their sets all day long. This certainly has to be a credit to your capabilities. The Telethon was a showcase of local talent. I am sure that as a result of this program, you will be asked to use you facilities more often. There are a great many talented local groups that are always putting on shows at the Warner Theater, or more recently, in our new Coe Memorial Civic Center. It would be a tremendous asset to you and our community if these productions could be aired over the cable system. I do hope, however, that considerationbe_given to the March of Dimes when it comes to other telethons. Again, my sincere appreciation is given to you and the staff of Laurel Cable- vision, Inc. Very jruly yours, Timothy W. Driscoll- Chairman Torrington March of Dimes CJVoodward cJ odge `V Go. 1355 BENEVOLENT AND PROTECTIVE ORDER OF ELKS P. 0. BOX 277 WOODWARD, OKLAHOMA 73801 February 15, 1977 Tru -Vu Cable T.V. Co. 1117 -11th Woodward, Oklahoma 73801 TO 1 JHO u1 IT MAY CONCERN: We have been very pleased with the service we have received -from Tru -Vu Cable T.V. Co. and are proud to have such an excellent company serving this area. All of your employees are to be congratulated for the prompt and efficient attention given to the people they serve. Very truly yours, Charles S. Novy Exalted Ruler CSN/ckm Etabquarters Vaitalion"Ed) .270 linfantru WISCONSIN ARMY NATIONAL GUARD 2801 W. SECOND STREET APPLETON, WISCONSIN 54911 SUBJECT: Letter:of ap"...reci :tior To: Rol'ert- • T'0 -w- Titie ro!rimuniations T 6 FEB 77 lould extend the sincere thnks aqd r-ppreciat.ion c,f t1-1 offices an:1 me -i of thc 2nd MIttalio:; for the'wjllinr oopc'rtion aild.ccmmurituppert you he shown in-supporl, H:yr the Wion:-.in 7atie.11 Cunrd. As the 1o1 miljtia we car do jol; i,e t w}. en we hLve communty sup]Jort. Yo:''..; -has Leen outstandir.3 ex?mple of community suDport. Your profession1i3m a‘ytended in 9 timely- mrinner has helped the rc--!rlitt:ing' effort of not only tie locel National Gue.rd unit 'not unitth—olghfut the PrItire state. Thunk you for a job wefl clone. EDWARD P. WITTNERT • LTC, INF, WIARNG (7ommandi:Ig AFVCGA DEPARTMENT OF THE ARMY HEADQUARTERS 82D AIRBORNE DIVISION FORT BRAGG, NORTH CAROLINA 28307 Mr. Randy Fraley Fayetteville Cablevision 5715 Raeford Road Fayetteville, North Carolina 28305 Dear Mr. Fraley: 1 3 JAN 1976 I wish to extend my thanks on behalf of each member of the 82d Airborne Division for your personal efforts in helping us to reduce our Christmas and New Year holiday accidents. Your valuable outdoor advertising space in support of our safety awareness campaign contributed immeasurably to the overall effort in reducing the number of accidents in both the civil- ian and military community. We are grateful and salute your "All The Way" spirit. Best wishes for a safe and prosperous new year. Sincerely yours, T. H. TACKABERRY Major General, U Commanding ELUTION 42' 40 2 U ;• m 2 V1� 4- b7>>6-191 ED Soropimmisi Club of La Gra m.le, Or-egonn. Soroptimist F ecieration of the Americas, Inc. June 16, 1976 Cablevision 1.11 Adams Avenue La Grande, Ore. 97$50 Gentlemen: On behalf of the Soroptimist Club of La Grande I want to thank you for your generous contribution to our Annual Brealkfaist held on June 6. The money received from this project will enable us to continue with our scholarship program and other civic endeavors. Our first count shows the amount received will exceed any previous year. Again, our thanks to you for your help. Sincerely yours, ci Dortha Voriiz,/President MC In Reply Refer To: 7502-20-03 BOARD OF DIRECTORS Florida Melbourne Beach Indialantic Palm Bay l - Satellite Beach Melbourne Village West Melbourne Melbourne Brevard 3ransportafion Authority 311 South Babcock . MELBOURNE, FLORIDA 32901 TELEPHONE (305) 727-1363 Ray Henderson Commentator, Newscaster WTOT, Channel 4 -TV Melbourne FL 32935 Dear Ray, • Your fine unbiased coverage of local news items and events has now become an indispensable item in many South Brevard households. I sincerely hope that this type of coverage will continue for years to come and set'an example for those to follow. I personally, and on behalf of Brevard Trans- portation Authority, offer many thanks and congratulations. Sincerely F. Don Durham //Director/Comp roller d FDD/acs INDIANA STATE U N IV h RS I T Y TE.RRE HAUTE. INDIANA 47809 DEAN OF ACADEMIC SERVICES AND SPECIAL 'PROGRAMS January 25, 1977 Mr. Gary Potts, Manager American Cablevision 730 Wabash Avenue Terre Haute, Indiana 47807 Dear Gary: (812i 232-6311 On behalf of Indiana State University, I would like to extend our thanks to you and your staff for the assistance given in developing the posier Schoolmasters program on American Cablevision in Terre Haute. All seems to be moving well with us at this stage of our programming and there are no in- dications that would indicate any immediate future problems., I think you understand our feeling about trying to reach a public that has not had the opportunity to experience a formal education at the. university level or that may be in need of updating previous studies. The presentation of television courses on a system such as American Cablevision certainly extends a university's opportunity and ability to present itself to this public. Again, our sincere thanks for all .your assistance and we hope that this . can be a continued relationship that will be beneficial for the University, American Cablevision, and the community in general. If you have any thoughts on how we might improve our operations, please feel free to pass them on. Thank you again for your cooperation. Sincerely, JBO:vr cc: Dr. Harriet Darrow Dr. Louis Jensen Dr. Lawrence Newberry Dr. Arvin Workman xfalit John B. Oblak • Assistant Dean for Summer and Evening Sessions February 17, 1977 American Television and Communication Corporation 360 South Monroe Denver, Colorado 80209 Attention Ms. June Travis Gentlemen: Recently while talking with a local cablevision representative I mentioned how very much my family and I enjoy having cablevision, with the extra channels for a choice of programs. He told me your office would probably appreciate my expression of enjoyment; therefore, I decided I would let you know. Citizens' comments have .been very favorable in our city also; in fact, we even chose to grant a rate increase and received very little opposition. Subscribers have in- creased considerably and continue todo so, and sinceBartlesville is straining at its boundaries due to rapid growth, no doubt cablevision will thrive accordingly. Television through cablevision is really appreciated here. In my position I hear many remarks about TV programs, and usually they are accompanied by a word of praise for cablevision. You certainly can list the citizens of Bartlesville as devoted fans of cablevision. KC:DK Sincerely yours, Keith Carter Mayor ate of Bartlesville civic center, box 699 bartlesville, oklahoma 74003 AC 918 336-0000 BELOIT SHRINE CLUB 229 West Grand Avenue Beloit, Wisconsin 53511 October 8, 1975 Beloit Cable T.V. 437 East Grand Avenue Beloit, 'Wisconsin 53511 Gentlemen: It is with great pleasure, to be directed by our Officers, Directors and Club membership, to present the enclosed Certifi- cate of Appreciation to you and your organization, in recogni- tion of your contribution to our Club, and our fund-raising projects. The fact that you provided us with advertising for our Pan- cake Day was much appreciated. Our sincere thanks toyou for helping us surrport our humanitarian and philanthropic aims. Sincerely, yours, BELOTT/SHRINE CL !��`,��- Harry BPerkins, Jr. Presid t Enclosure OFFICE OF TH ROBERT J EF OF POLICE N, CHIEF CITY OF MELBOURNE MELBOURNE, FLORIDA 32935 20 August 1974 Florida T. V. Cable, Inc. 1420 North Harbor City Boulevard Melbourne, Florida 32935 Attention: Mr. James Cooper, Manager Dear Jim: I want to take this opportunity to express my sincere appreciation for your generous contribution to the Ascension Catholic Church by providing cable service for their convent at 909 Whitmire Drive. Your continuous, personal cooperation with our department is to be commended. If our department can ever assist you in any way please don't hesitate to give me a call. Once again, thank you. The South Entrance to Patrick Missile Base Sincerely, Bob Cotron Chief of Police Xta.t 22u 7i-cu.axJ 44ziec./ "Your Safety Is Our Profession" TORR INGTON HIGH SCHOOL Major Besse Drive MARVIN MASKOVSKY, Principal JOHN DENZA, Asst. Principal CHARLES DUGGAN,..Asst. Principal Torrington, Connecticut 06790 Phone: 482-4491 Laurel Cablevision Inc. 339 Main St. Torrington, Conn. 06790 Dear Sirs: INDUSTRIAL ARTS DEPARTMENT Russell. H. Anderson Department Chairman I recently had cablevision installed in my electronics .hop at Torrington High School, We use the service in repair of FM radios and television_ sets. The high school is in a very bad reception area and signals very poor. Your cablevision has greatly improved my ability to instruct students in repair work. The students also can see and understand the need for cablevision. I still have my outside antennas up and can switch from them co cable to show the difference. They are very impressed. Mr. Nick LaGamba did the installation and I must comment on his ability as a technician. He was very knowledgeable, efficient and co-operative. After listening to my needs he executed them perfectly. You should be proud to have a man of this caliber representing you to the public. Thank you for the installation. Your interest in education and your willingness to be a part of it is greatly appreciated. Sincerely yours, ) Francis R. Fador Electronics instructor 0 MANKATO AREA Chamber of Commerce Mr. George Meyer TV Signal 228 S. Front Street Mankato, MN 56001 Dear George: February 11, 1977 It is our practice, from time to time, to communicate the appreciation of the Chamber to those individuals and organizations whose contributions of time and resources assure the continuing success of our organization. We firmly believe that you and TV Signal have earned this right of recognition. I want to thank you personally for your many years of active participation in and support of so many of our Chamber's programs. Your present service on the Board of the Manufacturers and Wholesalers Division, your handling of our recent annual Mid Winter Social, which was an outstanding success, and your leadership of the division have done much to assure the continuing productivity of this important Chamber group. This comes as no surprise for your leadership on other Chamber committees promised the excellence of your service to the Manufacturers and Wholesalers. As you know, there were many in our community who "viewed -with alarm" your company's acquisition of our locally owned TV cable system when you took over many years ago. Rumors of the distinct probability of serviceinterruptions, deteriorated signals and corporate indifference to the.interests and needs,of the community all proved.to be completely false. Your company has invested heavily in upgrading the system, has made special efforts to make Channel 3 a local service channel, has gone out of its way to bring us special broadcasts not normally BOX 999 / MANKATO, MINNESOTA 56001 / PHONE 507 345-4518 FIVE YEARS 11/111 ACCREDITED CHAMBER OF COMMERCE CHAMBER Of COMMERCE Of THE uNiTEO STATES Mr. George Meyer February 11., 1977 Page 2 available from existing transmitters and has given you and your staff time to participate in community activities. In short, we are glad you are here, proud of the company you represent and grateful for the dedication and dependability of the service your company offers. On behalf of our membership and the citizens of the Mankao area, let me say thank you for an outstanding job. Respectfully, PRH/cmh CHIPPEWA CITY PIONEER VILLAGE Jct. 59 and State Hwy. 7 in Montevideo CHIPPEWA COUNTY HISTORICAL SOCIETY MONTEVIDEO, MINNESOTA 56265 SWENSSON HOUSE 6 miles East and 5 miles South of Montevideo gbv, e. 539. 5 3:0. t S§rett Mo -,n r co ; &co •'M....pi.N.4.5e44k w � vo».kmoi. N.0.4,Ame- elsA:044.0y% %.•••5 akho.we %,:n% tci 1 Lo4L. wzicap.0-‘,..r 14.A. Nmat? 0 sr &%;..vit.s e,s Ch RANKIN E. MATHIS, JR. ATTORNEY AT LAW OFFICE: ROOM 201, P. O. BUILDING P. O. BOX 650 - (901) 686-0174 MILAN, TENNESSEE 38358 January 14th, 1977 Mr. Ken Vaughn Manager, ClearVision T. V. Union City, Tennessee. Dear Mr. Vaughn: Fourteen year's ago when I moved in my new home, on the Jackson Highway, Milan, Tennessee, there was no avail- tble Clear Vision TV Services; therefore, I bought and erected`s. thirty foot tower and antenna, which has been adequate for my, needs. Within the past two months, my TV has had interference and I had it checked. out and.was told that it was prob- ably caused my Milan Clear Vision TV Service. I contacted the local office and within a very short time two very qualified, capable and considerate employees of your company came to my home, and stated that they had received other reports which they were checking on. During the past few days these fine employees: Bruce Tinney end Robert Taylor. have greatly cleared up the problem and their dedication to their work, and concern for people, is very uhusual and both of them are to be commended' for their dedication to their work. They are a very fine pair of gentlemen, who refliect credit to themselves and. your company. Yours very sincerely, Rankin Mathis, Jr, REM: j At› '.- .OPERTY SURVEYS • SUBDIVISION DEVELOPMENT • SITE PLANNING • MUNICIPAL ENGINEERING 1ICHARD H. BATTERMAN, JR., PE & LS PRESIDENT HUGH J. LEE, LS VICE PRESIDENT THOMAS H. NEE, PE & LS SECRETARY ASSOCIATES ROBERT F. BICKEL, LS WILLIAM D. KIENBAUM, LS R. H. BATTERMAN & CO., INC. . 2857 BARTELLS DR. O BELOIT, WISCONSIN 53511 WISCONSIN AND ILLINOIS REGISTERED LAND SURVEYORS AND CIVIL ENGINEERS Beloit Cable TV 437 E. Grand Avenue Beloit, Wis. 53511 Attn: Mr. Brad_ Dobbs, Production Manager .Gentlemen: May 28, 1976 TELEPHONES BELOIT 608/365-4464 SO. BELOIT 815/389-4323 JANESVILLE 608/752-5772 Throughout the past year I have had the opportunity to utilize the notification process available through your business to advise the public of meeting notices and public service announcements as they relate to the local chapter of the Wisconsin Society of Professional Engineers. I am appreciative of your cooperation and the professional and cour- teous manner in which you treated me. I am sure that the chapter's new chairman will receive .the same response. Again, thank you for your past year's cooperation and assistnace provided our organization through your particular media. Very truly yours, Thomas H. Nee, P.E.-L.S.. Public Relations Committee Rock River Valley Chapter Wis. Society of. Prof. Engineers lmp 1 OFFICERS President JOHN F. HORRIGAN, JR. Vice. Presidents JOHN S. KLINE FREDERICK E. RUCCIUS, JR. WILLIAM H.,SCHLEGEL E. W. SCHLEICHER Treasurer SIDNEY G. KNOBLAUCH 'Ex -Officio CARL L. N. ERDMAN BOARD OF DIRECTORS WILLIAM E. ANDREWS THEO. C. AUMAN, III PAUL L. BEANE JOHN A. BEARD, JR. SAMUEL M. BLACK GEORGE CHIROGENE DAVID A. COPE, M.D. W. STURGIS CORBETT JAMES. E. CRIDER R. WILLIAM EAKEN, JR. KARL H. EISELE LAMAR A. HOUSER RAYMOND T. KASE NORMAN L. KAUFFMAN JOHN S. KLINE SIDNEY D. KLINE, JR. HAROLD 0. LEINBACH ANDREW MAIER, II JOHN F. MMGLINN, JR. PETER H. NOZNESKY HARRY R. OTTEY WILLIAM H. PARKS I. M. RABINOVITCH RAYMOND F. ROGERS FREDERICK E. RUCCIUS, JR. G. DAVID SCHLEGEL DR. ARTHUR L. SCHULTZ E. WAYNE WEEKS, JR. JOSEPH F. WELCH WILLIAM H. WHITMAN ADMINISTRATION Executive Director WM. R. McILVAIN Assistant Executive Director BARRY N. KOHL ndustrial Director T. W. CADMUS Membership Development WILLARD E. COLVIN YOU CANT TOP BERKS COUNTY THE CHAMBER OF COMMERCE OF, READING AND BERKS COUNTY. PENNSYLVANIA CHAMBER OF COMMERCE BLDG. • 541 COURT ST. • READING. PA., 19603 P. O. BOX 1698 376-6766 MEMBER AC 215 U. S. Chamber of Commerce • Pa. Chamber of Commerce • Council of Better Business Bureaus, Inc. • American Industrial Development Council February 16, 197'7 Mr. Joseph Masciotti, System Manager Berks TV Cable Company 1112 Muhlenberg Street Reading, Pennsylvania 19602 Dear Joe, During the past few years the Chamber of Commercehas be- come increasingly aware of the importance of your cable company's service. Although, it has been actively serving the public for many years, it was not until about three years ago that we were introduced to your system's capabilities in a practical way. The Chamber at that time sponsored a special public meeting featuring the State Legislators from Berks County,. And, although several hundred people were in attendance, your cameras were there which opened the meeting to thousands. At a later date your company made it possible for the community to see and to hear Admiral Rickover deliver a stirring speech about our,Educational System at the Chamber's 1976 Annual Dinner and Awards Meeting. Most recently the Chamber produced a special program featuring a panel. discussion on pertinent aspects of free enterprise -which was cable cast on your system. These programs and events, we feel, contributed much to community understanding of timely issues and we are grateful that your company has made them possible. We are also aware that the Berks TV Cable Co. has been uniquely innovative. Your company has worked closely with the area schools, it has provided opportunities for citizens to interact with their elected officials and it has provided special "participation" programming • for senior citizens. These endeavors, we believe, are wholesome and do much to bond the relations of Berks County Citizens through better understanding. It is our belief that these generous community Page Two Joseph Masciotti 2/16/77 endeavors which promise no immediate monetary return to your company will certainly produce increased interest in and sub- scribership to your cable system. We wish your company a prosperous future in the better community it is helping to create. Sincerely, Barry? Kohl Asst. Exec. Director BNK:bsk CITY OF EL DORADO W. M. RODMAN, MAYOR 204 NORTH WEST AVENUE EL DORADO. ARKANSAS 71730 "CITY OF PRIDE AND PROGRESS" February 7, 1977 Mr. Roger Miller, Manager El Dorado Cablevision 711 North West Avenue El Dorado, Arkansas 71730 Dear Mr. Miller: Since 1973 your company has made substantial improvements in television reception, and in television coverage, in this' city and these, together with -recent improvement in your monthly billing procedures, have all served to indicate your desire to effectively serve this community. It is my feeling that your company is constantly attempting to bring good service to El Dorado and, by so doing, is building mutual good will. Sincerely,/ elf W. M. Rodman Mayor WMR/b jm ‘CI southwest state uniuersitu • marshal!, minnesoto 56258 SSU 1' 10 February 1977 Mr. John Falconer Marshall Cable 1104 E. College Drive Marshall, Mn. 56258 Dear John: Opening channels on Marshall Cable to "public service" announcements has been a boon to the many departments and divisions --with their multiple activities and events --at Southwest State University. Thank you! Mine is a most unscientific conclusion, of course, but I believe it is an accurate one. We have done no surveys, and as a consequence there is no hard data upon which to lean. However, the requests to "get on cable TV" that come to my office are more than just "numerous." Your service not only assists in advising of the programs and events at SSU but it is also a great aid for the "emergency" messages that plague us because of weather, etc. Most important, undoubtedly, is the opportunity provided SSU students in .Speech -Com- munications and Radio -Television programs to obtain "real life" learning experience and training. It goes beyond the "lab" training which has previously prevailed. This "public service" outlet does serve; we'd hate to lose it. S&ncerely, %/ c_,- NEWS/PUBLICATIONS NEWS/PUBLICATIONS Dan W. Johnson, Director DWJ/jl Enclosure INDIANA STATE UNIVERSITY TERRE HAUTE, INDIANA 47809 DEPARTMENT OF SPEECH November 12, 1976 Mr. Jeff King Capitol Cablevision, Inc. 1835 W. Northside Dr. Jackson, Mississippi 39213 Dear Jeff: (812) 232-6311 Just a brief note to express my sincere appreciation to you for talking with my students in cable television yesterday via the conference call method. The students all thought it was informative and interesting and I regret only that we didn't have additional time in that hour to ask you more questions. I'm sure you know that it's this kind of contact with people in the "real world" that can add a great deal more meaning to the kinds of things we are studying in the class room. I also appreciate the frankness you displayed in answering their questions. I failed to ask you at the conclusion of the conference call whether or not you wanted the connection device returned. I tend to assume that you do, and I'll simply say that it would be valuable to keep for purposes of illustrating the device when I offer the class in the future. For example, this summer I'll again be teaching cable, and I think on the basis of your explanation, I could do a fairly adequate job of, explaining it then. On the other hand, I do know that those are expensive and if you want it returned, please drop me a brief note and I'll get it off to you by return mail. Once again, I want you to know we do appreciate the time you spent with the class yesterday. I look forward to seeing you in the near future. JTD/bc Cordially, Joe . Duncan •fessor of Speech director of Broadcasting Founded 1881 The Children's Home of Delaware Delaware, Ohio •Incorporated 1882 CCto6e2 /6, /976 11R4. Inoeboirg 8. 11'au Oeccunize Ca6.1e TV 0e-1c/wet/le, Chio Lean Al : lbe w.i_.jh o thank uou foa uou z fine 4uppoai in adveAtiAing. the UNZ IPTOTIV, 4pon4o,zed bu the rhi•Cdizen'4 Rome of Oelawaize (Amino raiz I'e mall have an. exaggeiraied view of the impoatance of the CAL(n'izen'home -o the Oe.lnwa,e cD nmuniiu but i.t waid be haad -to a2que that the Rome Iza.., not been an iwpgir Tani tacio, in he gnowwh of mares court, Ten and women. Zi can condinue imooaiand uxvih with noirga.1 child/ten who have pnob lei , and do if wea., if .tet conninue4 do adtaact the geneRouA upoont of perz4on4 and oagani aiiorv, in owl comnuniir% 0.4 /Zeprzeienzed bq court inteize4i. e � ll (7Yi ceJ Fannie 'Riddle, nu4dee Bou:Eiuue ComTi:tdee Me i6e,t LEAGUE OF WOMEN VOTERS OF PORTLAND AREA, MAINE December 10, 1976 Mr. Michael Wallace 118 Johnson Road Public Cable 'Company Portland, Maine 011.102 Dear Mr. Wallace: The League of Women Voters of Portland would like to thank you for participating inihe recent "Candidates Forum - 1976" television productions. We realize that a tremendous effort was made by you to make these productions go well. Please extend our appreciation to Peter Smith and all of your crew whoworked so hard to make sure that the programs went smoothly from a technical point of view. We feel that all of us learned a great deal from this experience. The great success of these evenings was due to the cooperative efforts of the forum committee, the moderators and the Public Cable Company. We look forward to future endeavors between you and the League. Sincerely, (et -1 ///e /tc; Carolyn Murray President WM. A. COLLINS COMMISSIONER Pt -part -matt of uixlu latiR tem POST OFFICE 5OX 65 CITY OF SHREVEPORT, LOUISIANA 71153 February 17, 1977 Caddo -Bossier. Cablevision 1600 Fairfield Avenue Suite 412 Shreveport, LA 71101 Gentlemen: ATTN: Mr. Bob Boepple It is with much pleasure and satisfacti.on'I.wish to express to you my appreciation for your fine efforts relegated toward Caddo -Bossier Cablevision. I have been made aware not only by members of my staff, but also by the citizens of our City, that you are doing an unrelenting job promoting Cablevision. I appreciate the effective and efficient manner in which you are proceeding with construction. Your concern for the public's demand for quality service assures me greatly andaffords me considerable con- fidence in you and the future of Cablevision. WAC:pg Sincerely yours, Wm. A. Col ins COMMISSIONER OF PUBLIC UTILITIES eity (9f Raleigl'i January 17, 1977 .worth Carolina Mr. Ed. Guenther Cablevision 1609 Old Louisburg Road Raleigh, N. C. 27604 Dear Mr. Guenther: Please let me express for myself and my entire staff our most sincere gratitude for your cooperation in getting out the word about our presentations on the public facilities elements of Raleigh's Compre- hensive Plan. The number of citizens who braved the wind and cold to come to Memorial Auditorium to hear the presentations are a tribute to your efforts. Without your help, I do not think we would have had the audiences we did, or so many citizens -- including those who did not come, but read or heard your reports -- who are now informed about the Comprehensive Plan. Thank you very much. P. Z ary City M ger vsp/M798 OFFICES • 110 SOUTH McDOWELL'STREET• POST OFFICE BOX 590 • RALEIGH, NORTH CAROLINA 27602 February 9, 1977 Mr. John Falconer Marshall Cable Box 518 Marshall, MN 56258 a 0014411 4 to o d 13 ,pd co " J Dear Mr. Falconer: The Marshall Parks, Recreation and Community Education Department would like to extend our appreciation to you for displaying our various schedules of classes and procedures for registering for our classes and activities on Channels 6 and 8. This is a great help to us and benefits the community as well. Thank you for working with us in this community service. Sincerely, Jim Heller City Administrator ld City of Marshall, Minnesota Marshall Public Schools Phone 507-532-4332 • Box 444, Marshall, Minn. 56258 Walter C. Selden, Director J. N. CROSS Mayor JACK BRALEY, Vice Mayor FORREST GRIDER, Councilman BEEF—AGRICULTURE; INDUSTRY—PROGRESS CITY HALL -219 W. FOURTH ST., GUYMON, OK 73942 TEL. 405/338-3396 February 15, 1977 American Television and Communications Corporation 360 South Monroe Denver, Colorado 80209 Attention: June Travis Gentlemen: RONNIE HUCKINS, Councilman H. M. KEENAN, Councilman TERRY H. POWELL, City Manager Having been City Manager of the City of Guymon for approximately one year, the use of Cablevision is relatively new to me. I have always lived in larger communities that had television and radio stations. It appears to me, taking into consideration the distance the' City of Guymon is from radio and television stations, that the system works quite well. Other than the personal observations just stated as Manager, I find that I am sometimes asked questions about Cablevision even though it is not a direct service of the City. Since I have been in Guymon, I have had relatively few complaints, those of which, once -directed to the proper Cablevision technicians, were promptly resolved. The current manager of Cablevision, Mr. Ryan Matzek, does an excellent job of keeping me informed of any difficulties that might be created by weather conditions, technical difficulties or even sometimes complaints which arise from actual difficulties created by the TV sets. 1 feel this service is very important to the City of Guymon, and it is a pleasure to work with the Cablevision technicians in our community. Sincerely, er H. owel C ty Manager THP:jes aw L i808 CITY OF GREENSBORO .NORTH CAROLINA February 8, 1977 Mr. Terry Hicks, Manager Cablevision of Greensboro 1813 Spring Garden Street Greensboro, North Carolina Dear Terry: OFFICE OF THE CITY MANAGER The City of Greensboro can attest to the fact that since Cablevision of Greensboro has been operating in our community, all specifications of the local ordinance pertaining to the community antenna television system have been complied with. As you know, Article V, Chapter 25 of the Greensboro Code of Technical Ordinances deals in detail with this subject. May we together continue to work toward enhancing the quality of life for all our citizens. Thank you. CITY MANAGER TZO/lr Columbus Public Schools SUPERINTENDENT OF SCHOOLS • ADMINISTRATIVE OFFICES JOHN ELLIS 270 East State Street Columbus, Ohio 43215 Area Code 614 225-2600 February 16, 1977 Mr. Cecil Jackson, Manager AllAmerican Cablevision Co. 105 W. Sycamore Columbus, Ohio 43206 Dear Mr. Jackson: ASSISTANT SUPERINTENDENTS J. L. Davis, Special Services C. C. Hall, Business Affairs H. 0. Merriman, Instruction E. J. Tilton, Adnzinistration T. H. Turner, Personnel I'd like to express my personal appreciation for the generous assistance given by your firm during our energy crisis. Your willingness to tape and re -broadcast the. Channel 10 morning shows to your subscribers is just one more example of the fine response made by this community to. a school system in a time of need. Announcements were sent to the Columbus Dispatch and Citizen Journal, and to each of our school administrators. HM:jh Sincerely yours, 4/1414 Howard Merriman Assistant Superintendent, Instruction LEAGUE OF WOMEN VOTERS OF BARTLESVILLE AFFILIATED WITH .THE LEAGUE OF WOMEN VOTERS OF THB UNITED STATES Mr. Bill Thomison Manager Cablevision 210 East Second Avenue Bartlesville, Oklahoma BARTLESVILLE, OKLA. 74003 825 Concord Drive Bartlesville, Oklahoma January 30, 1976 Dear Mr. Thomison: The League of Women Voters of Bartlesville would like to thank Cablevision for the opportunity to do a Candidates' Forum on television. We have found the experience to be most rewarding. Many people have expressed appreciation to us for presenting the program and the candidates also seemed to be appreciative of the opportunity to reach larger numbers of voters. As you may know, the turn -out for the school board election was the largest that the Bartlesville School District has had in recent years. We feel that this is due in part to the television forum as more voters felt that they knew the candidates and what they stood fpr. We especiallyappreciate the time which you took to explain the technical details of television scripts, camera work; etc. to us. We learned alot from this our first experience with media and would like to do more in this media in the future. Again, thank you for performing this valuable public service in our community. We hope that you will do this again in the future. Sincerely yours, r CAJ Mrs. Philip `tt. (Nancy) Wolff President a�. • Monthly Monitor Point Readings System . : 07 Date ic f l b/ ?.Technician e:J Time V.3 Temp. j// c. Test Point Location and #/nA.N .T/ _ t��,r,e� %cL /7 .33 r cis exact -�• i CH Video Carrier Freq. MHz Video Carrier Level DBMV Audio Carrier Level DBMV Diff DB Peak to Valley DBMV Hum % S/N Ratio dB Picture Quality 1.Beats 4.Ghosts 2.Hum 5.X -Mod 3.Electrical 6.Color Noise Defects 2 55.250 .37 3O 7 % 3'f ilii 3 61.250 3`%% / g ,)fez gy., 4 67.250 1/7 cR7 /ir l 5 77.250 1/7 39 /1/ r 514 . 6 83.250 4/0 :as' /a g pcisy FM 88.103 33 LP 414.4 r8t im • A(14) 121.250 II -5 3 / /y 3 • B(15) 127.250 17 4/3%3e) 30 /7 /3'6 / LlYa. • -eratf C(16) 133.250 D(17) 139.250/v 4f is /: E(18) 145.250 37 a. /7 7 a F(1.9) 151.250 y$ :a V . / 7 3 • G(20) 157.250 • iiy 3 0 ill q . L H(21) 163.250 164.250 . 37 7 1 7 c6; /o . / 2 7/ /0 IN -':Sy I(22) 7 175.250 i/o ,29 jla 8 181.250 • IP It. ,-,2 c: P/ Ya £ Y- 9 187.250 3 7 K 11 1 .0C!afs _ 10 193.250 33 (23 10 /-5 r3.'ra+:5 11 199.250 37 X21 /g `! e't' ea +..s l 12 205.250 11/ Z 13 7 12)e/4fs 13 211..250 q rg, •Y L. 8 J(23) 217.250 yo f • K(24) 23.250 -B epf_s (25) 229.250 . (26) 235.251 N 7) 241. 0 . 0(2:.) 247 250 P(29 25 '.250 Q(30) 2;9.250 R(1) 65.250 . S 271 250 , I T 277. .50 U 283.2 •0 289.251 • W 295.250 ti J omments. 4C��alrlisc:! /6,3C) �ct,�, ek:-t-L:.. -d-c-0 C.-4.<:k..-.A� yNat u 711 [_Atil <-.k �.en Jam, ire l C;.<1 vc IA -42( ..././Q.l� 1 ti ,1r t•-e_. 4 ,4 Monthly Monitor Point Readings System 65s gr Time .? ;3 o Temp.. ; ' Date ////g� Technician xi 37 b Test, Point Locatio9. and # ft) r- ac/i1C1 3' c If A CH Video Carrier Freq. MHz 'Video Carrier .Level DBMV , Audio Carrier Level DBMV . -. Diff DB Peak to Valley DBMV Hum % S/N Ratio dB Picture Quality 1.Beats 4 . Ghosts 2. Hum • 5. Xl'ilod 3.Electrical 6. Color Noise Defects 2 . 55.250 jyYa... 5 /3Y. fre t}(4 G C.) 0 II 3 61.250 3 T Ya. q9 l5K)- 4 67.250 4'o i5 /5 • • s . 77.250 q/ P.R /3 . 1/7 6 83.250 Lia. ;17 /3 . FM 88.103 .7p... . LP 1&.'?oo 1/q . A(14) 121.250. y3 yp_ a 7 100. . B(15) 127.250 ' IN 30 0 . C(16) 133.250 LW 30 15 ). D(17) 139.250 1/5 30 1,5 - - 1 E 18 145.250 3 ;2" . /I/ 1 • F(19) 151.250 4-6 30 /5 G(20) 157.250 11.5 36 /5 H(21) 163.250 93 7 -/z/ • 1(22) 164.250 gq. g 7 • /5 7 175.250 1/ii PI 1 1 8 181.250 1/1/ '9 I /5 \ 9 187.250 Zi/ • tRr /3 I . 10 193.250' 9D. gy- /y •11 199.250 1/3 ‘.9' /1/ 12 205.250 1-1.3 3C) /3 i 13 2n. 250 4/3 oq VI J(23) 217.250 q_cYA . I 51 . K(24) 223.250 _ (25) 229.250 (26) 235.251 0 0 0 N 7) 241. 0 0(2\) 247 50 0. 0 P(29\25 .250 0 0 0. Q(30) 29.250 RC1) :65.250_ - -- ------ - H . -P . - -2- • 0 .-0- ' -- — — - ---_- . – --- — , _- , S 27 .250 277.750 283. 0 . 289.2 1 '1 295.250 Comments.: BAJ --1-e---f-- - 6 ; Alf- tq l' cm, i IA; P —S —7 ' I I's) (..-- j t. \I: - e,; ,r) C ,';,- ! ,:•1 i, .!': 1'1 i f:',. Ci“. :1 -.6 / is ' dOC I /-\---F . - • • Monthly Monitor Point Readings System 14A., cA O `� g Date/) ()Technician a�✓ Time a; /5 Temp. 37 o Test Point Location and # i+,/Pc_ a3 A► CAS e ;10,,1-1- it) CH Video Carrier Freq. MHz Video 'Carrier Level DBMV Audio Carrier . Level DBMV •Diff DB .Peak to Valley DBMV Hum % .S/N Ratio dB 1. 2.Hum 3. Picture Quality Beats, 4. Ghosts 5.X -Mod Electrical 6. Color Noise Defects • 2 55.250 .57 37 19 1 L I - 3 61.250 149 31-/ /s 3 / 4 67.250 LP 311 /5 3 5 77.250 q7 3S. /3 q .1/7 1 . 6 83.250 50 35' /5a . a FM 8:.103, Yb LP r i :!4 SO A(14) 121.250 50 _3 7 13 a B(15) 127.250 5.4C, 35 %S a 1 C(16) 133.250 ,j. .. to 36, /6 /y a !!I ! 1 D(17) 139.250 50 . E(18) 145.250 57 3 4 i.5 1 F(19) 151.250 5-1 _3 la /g i G(20) 157.250 So 3 7 /3 a_ H(21) 163..250 L9 35 // .3 I(22) 164.250 .5-0 35 • lS 7 175.250 5O 33 /7 8 181.250 50 33 /7 a 9 187.250 yr • 23 /6 `E 10 193.250 Sp 33 /7 3• - 11 199.250 7 3 ' /t,:a 12 205.250 L 3/ /5 (P i .13 21'1.250 . 7 A 3 %) 1 r J(23) 217.250 4q 3 . ! �//. 'leo K(24 223.250 (25) 229.2501 N (26) 235.2 i N 7) 241. 0• 0(2:) 247 250 P(29' 25..2.50 . Q(30) 2:9.250 R(1) 65.250 1. . _ H.P. 2 0.0-- _ ilk, - -- - ----- ---_- _----- - ___ S 27 250 T 277. 50 U 283.2 0 289.25 0 W 295.250 0 Comments : c 1= : ill , , ( - ! ' ) Monthly Monitor Point Readings System A O c/ Date II / 7/$U Technician Time ! % 3 n Temp. o ° Test Point Location and #/),J ssf- Necvq %r:1 3 At cklScA ,eibu -,*()/1 Picture Quality CH Video Carrier Freq. MHz Video Carrier Level. DBMV Audio Carrier Level DBMV Diff DB Peak to Valley DBMV Hum % S/N Ratio dB 1. Beats 4. Ghosts 2.Hum 5.X -Mod 3. Electrical 6. Color Noise Defects 2 55.250C ;J 30. � �.F ,�6� Fir f1� Go --,s ri 3 61.250 Jo 27 / 4 67..250 1-0 a7 IL 5 7.7.250 1/3 �9 . /4/- 11 '7 7 6 83.250 Y' 43a /y L• FM 88.103 . 31 . LP 1-0-8-:-&60 1/4/ . A(14) 121.250 '/5. 3a /3 B(15) 127.250 16 a7 A . C(16) 133.250 y3 0?er /5 I. . D(17) 139.250 qy P? go E (18) 145.250 tiO „ % /3 1 F(19) 151.250 y5 cPg /7 L G(20) 157.250 //3 P ` /11 ? • H(21) 163.250. 113 a7 /3 I(22) 164.250 4/5 • 30 - 15 7 175.250 L1.3 a7 lip 8 181.250 I/a- P V /2% I 9 187.250 iii dr /3 ! . 10 193.250 l/a /l • 11 199.250 Y3 b% /y f 12 205.250 ' 1/2/ 3c /Z 13 21'1.250 //3 P.9 %y 1 J(23) 217.250 w, • 51 f • K(2¢_14223.250 wG (25) 229.250 (26) 235.251 N 77) 241. 0 0(2:) 247. 50 - . P(29' 25 .250 Q(30) 2'9.250 R(1) :65.250 H. P. 2 0.0 -- ---- -_ - - .- ____ - S 27 250 T 277. 50 - U 283.2.0 - 289.25 :� // k 295.250 omments : Alccj o s -i- L e u.eL3 Monthly Monitor Point Readings System q -C 07 s •Date G a• ; (I Technician f,/ Time 0:3d Temp. D° Test" Point Location and # uJ// )17.1/Jdr ,e.(, ID iv►i ► r' Lt Gr r�.i �s (N . , l �, • L 1 . r CH Video Carrier Freq. MHz Video Carrier Level DBMV Audio Carrier Level •DBMV Diff DB Peak to Valley DBMV Hum % S/N Ratio dB Picture Quality 1.Beats 4.Ghosts 2.Hum 5.X -Mod 3.Electrical 6.Color Noise Defects 2 55.250 Lf� f /G 1 q 6cect 3 61.250 113 a% /6 3 4 67.250 .43 /, l7 ?, 5 77.250 qa... .23 %g 1/ Lig 6 '83.250 lif a-7 /41 5 FM 88,103 31 _ LP.r A(14) 121.250 4L/ gC PI a 1 B(15) 127.250 g 7 3 t 13 e - C(16) 133.250 7.6 3 D / 6 1 D(17) 139.250 ye 36 g, r E(18) 145.250 q3 a)q /1/ 3 F(19) 151.250 y6- c;Zq It, 1 G(20) 157.250 4 5 .1C( /( 1 H(21) 163.250 4'% 3 D ly a ! i I(22) 164.250 y aq 16 z i 7 175.250 1 abi- /4. :1.. 1 8 181.250 L/.J 3o J3 3 t 1 9 187.250 �� . .79 /3 LI 10 193.250 i3 ,q /y 3 11 1 199. 250 qy 7 /7 a t 12 205.250 31 t2/0 /3 7 13 21'1.250 JJo t27 13 l I J(23) 217.250 14 1 -5 • 1-17 t K(24)j 223.250 �C V (25) 229.250 (26) 235.251 N 7) 241. 0 0( ;) 247 250 P(29 25 '.250 Q(30) 2'9.250 R(1) 65.250 --- H.P. 2 0.0 S 27 250 T 277. 50 U 283.2.0 0 289.25 W 295.250 omments: Monthly Monitor Point Readings System 4 Ogg Date /o�3o fy{0 Technician Time '2 ;,3 . Temp. 3 if: Test Point Location and itc:112eLs PA,e ) �}Mp ca s cAd `-b u ,. CH Video Carrier Freq. MHz Video Carrier Level DBMV Audio Carrier Level DBMV Diff DB Peak to Valley DBMV Hum o S/N Ratio dB Picture Quality 1.Beats 2. Hum 3. Electrical Noise 6064' 4. Ghosts S.X-Mod 6. Color Defects 55.250 yy /43 a9 a g 15 15 5 e BgPP. " 2 3 61.250 " 4 67.250 2/1/ ,.30 /L/ 5 5 77.250. .ij 3'D • %L/ 5 1 ;50 • 6 83.250 11.55 a 9 ,' " FM 88.103 . 3 5 1 LP �(p . A(14) 121.250 We 33 %3 3 ! B(15) 127.250 yb 3/ /5 3 C(16) 13.3.250. L/7 .3Q /5 D(17) 139.250 1 -ii 33 I/0 — E(18) 145.250 117 3,P /5 D.i ' • 7 F(1.9) 151.250 lig _3 %(o 1 d G(20) 157.250 LIg 33 I (p -' ' , } H(21) 163.250 47 33 . / / • a y c { 1 1(22) 164.250 ' La' .3 a : /(p 1 i• 7 175.250 2/ 7 3 /6. 1 8 181.250 ' - 7 3a /6 I 9 . 187.250 1/(0 •33 ' /3 3 s 10 193.250 1/7 .3/ %4 a 11 199.250 4/7 30 /7 z• 12 205.250 L/3 vZ9 /y . to 13 217.2.50, L'3 a /V. G J(23) 217.250 11-5 11 lg f K(24)223.250 (25) 229.251 (26) 235.2 ! N 7) 241. '50 0(2.:) 247 250 . P(29` 25..250 Q(30) 2.9.250 R(1) :65.250H.P. 2 0 . 0 -- - — — ---- - --- S - 27 .250 T. 277. 50 U 283.2.0 289.25' W 295.250 Comments: Monthly Monitor Point Readings System �T� C_P- . (•,(7F' Date /6/ / 6 Technician CZThe-.J Time /'./ 0 Temp. 1/9(- Test Point Location and /# R;u5 k -uo,f � _ �C�'s //6i(� f /� j✓1P [ A S C�?Ci" Picture Quality CH Video Carrier Freq. MHz Video Carrier Level DBMV Audio Carrier Level DBMV • Diff DB Peak to Valley DBMV Hum % S/N Ratio dB 1. Beats 4. Ghosts" 2.Hum 5.X -Mod 3. Electrical 6. Color Noise Defects 2 55.250 Litt ‘1.-- 1/ Q5',/?.u �� I `V � �:5, .) Frh�rlc Bes- 5 3 61.250 L/1y9.. D5`/-- /lp 7Y2.: 4 67.250 zip, 5Y - 1t,YR 7 i ... . 5 77.250 /3 19 l LI 4 1.. 6 83.250 I/35 3 0 LS- LI ' FM 88.103 3. 5 ' LP -3,8- -r8-fiO y (. A(14) 121.250 . y b. ;3 /3 3 B(15) 127.250 q 1,,.36 1(1, 3 • C(16) 133.250 Li to .3a Pi 3 D(17) 139.250 Li 3 / 17 1 E(18) 145.250 yi'la- 3v/ - I oZ /;_. - F(19) 151.250 L/7 Ya._ 3 L /Sy- 1 Ya G(20) 157.250 ki 7y-4_ 3/ Y2- L( Pa H(21) 163.250 1-1-1 3 1 E .P.. • I(22). 164.250 yg •33 /5 1 7 175.250 Y Ya 33 /,c(4_ y. . 8 181.250 in 3q l -' 9 187.250 L/7Y3 . 3I YD_ 4 ) Y-4.. 10 193.250 yg 33 15 1 , 11 199.250 Lief 23 l(, 12 205.250 Lj7Ya_ .3I`/a Ico i y)- 13 2r1.250 Lop 3 3 1.6 3 J(23)• .217.250 y03- a YD- L-/3 v24) 223.250 \V/ (25) 229.250 D (26) 235.2 • N 7) 241. 50 0(2:) 247 250 P(29' 25 .250 Q(30) 2 9.250 R(1) 65.250 -- H.P.. 2. 0.0 ___. - . S 27 .250 T 277. 50 . U 283.2 0 .. 289.25 . W 295.250 Comments: Monthly Monitor Point Readings Date !J/ �/g d Technician x/ System '-1-� ►o -c or - OTW • Time .3 d Temp. y6 ° - Test Point Location, and # R A Ora J.l. FLt1 S 7 11/aL, 1 q Arvip cr1s cfj r Picture Quality CH Video Carrier Freq. . MHz Video Carrier Level DBMV Audio Carrier Level DBMV Diff DB Peak to Valley DBMV Hum % S/N Ratio dB 1.Beats. 4.Ghosts 2.Hum • 5.X -Mod 3.Electrical 6.Color Noise Defects 2 55.250 .3 O /5 3 6,-ilb 0.7,00 ( 3 61.250 ,. /6 -3 4 67.250 0 3 ■■_ 5 77.250 L/ o /5 3 .• 6 83.250 L/ 5 3/ // 3 5 1 FM 88,103 35 LP 4.411 1/ A(14) 121.250 7 3a Is- 1 B(15) 127.250 q7 31 4 1 C(1.6) 133.250 1/7 31 /(a 1 D(17) 139.250 U F 3 -Z 1% - E(18) 145.250 lig _30 15 3 F(19) 151.250 % 31 /` 1 G(20) 157.250 1J7 33 /y 1 H(21) 163.250 ill, 31 /.5 a 1(22) 164.250 ur 3,D. . /5 1 7 175.250 yl, 3,2 it/ a i 8 181.250 y8 3P. n ____ 9 187.250 4'5 " 30 /- 3 10 . 193.250 LP/ 30 !y 2.1 i t 11 199.250 2/3" L3 0 /� 12 205.250 2/4,/ a Q /S 1/• 13 217.250 3 j 1S- r If1q J(23) 217.250 4/3 • 5 . 1 `� / K 24. 223.250 L(25) 229.250 ,(26) 235.251 N("27) 241. sO 0(28) 247 250 P(29 25:.250 Q.(30) \2:9.250 R 1) '65.250 H.P. i.0 • 27 250 27750 283.250 . 289.258 . W 295.250 omments: Monthly Monitor Point Readings Date /U ;q1 o Technician . 017/ System '�"} �?H;fes.. 07 Time y,3 p Temp. 37° Test Pqint Location and # ,4r, 37 So .r , V.F•\7 Pii CH Video Carrier Freq. MHz Video Carrier Level DBMV Audio Carrier Level DBMV Diff DB Peak to Valley DBMV Hum % S/N Ratio dB Picture Quality 1.Beats 4. Ghosts 2.Hum 5.X -Mod 3.Electrical 6. Color Noise Defects 2 55.250 Li i ,% 17 4 ( .rP P 1/ G o o a. 3 61.250 LI U a..5 /__S- S4 4 67.250 . IID cIJ 10 6-- 5 5 77.250 3 7 Ya., W.r /3 )� .6".y.- 145 4 • 6 83.250 0 Q L / . FM 88.103., 30 • LP :`a 10 A(14) 121.250 1/3 a C /4/ a_ B(15) 127.250 Zia. r --G' / " 3 C(16) 133.250 Zig / 5 1 D(17) 139.250 y6. Ol / ...-- E(18) E(18) 145. 250 '/0 % 13 5 . F(19) 151.250 1/y i S 1 G(20) 157.250 y.3 3 o 3 a• H(21) 163.250 qy a ct ,/ / 6 1 I(22) 164.250 . 0 3 o %L/ 1 7 175.250 ,q i6, - '• 8 181.250 0/ 30 !L/ 1 9 187.250 1/3 • 7 P /4/ 10 193.250 yo, cp.0 iy 3 11 199.250 I/p ,27 %5 3 12 205.250 L/.3 <7 `7 /P -) 13 21'1.250 1/3 r') /3 J(23) 217.250 1./ 5 —• K(24) 223.250 V (25) 229.250 (26) 235.251 N 7) 241. 0 0(2:) 247 250 . P(29' 25:.250 Q(30) 2:9.250. R(1) 65.250 H.P. 2'0.0 S 27 .250 T 277250 • U 283.0 289.2 IV 295.250\ .— Comments: Monthly Monitor PointReadings System ��h_ b q Date. d/D9 a Technician \ i./ Time 7,6 Temp. '3 Test Point Location and # Ro ..t 37 50,144 -4- L-e.e a ' Mp cAs s c/ yds•✓ CH. .Video Carrier Freq. MHz Video Carrier Level DBMV . Audio Carrier Level DBMV - Diff DB Peak to Valley DBMV • Hum % S/N Ratio dB . Picture Quality 1.Beats . 4.Ghosts 2.Hum -. 5.X -Mod 3.Electrical 6..Color- Noise Defects 2 55.250�,�'.� 0 .37 ' 13 / c f�F, 1. 3 61.250 y7 3 6 /3 a 4 67.250 5r, ..1 q lb 1 5 77.250 3"e) 37 /3 .1 L/ 6 83.250 5(-) 3'7 /3 1 FM 88.103 1/0 LP. 1D 5-3 A(14) 121.250 ori / .3 /3 B(15) 127.250 5'o . 37 /3 1 C(16) 133.250 5/. 3 /o /5 "' D(17) 139.250 5/ 35 a, -' •E(18) 145.250 43 3 /3 .3 F(19) 151.250 5"/ 3 5 no _ G(2.0) 157. 250 Cj 37 / I H(21) 163.250 _co 31/ /(r, 1 I(22) 164.250 //7 (p • /3 0. 7 175.250 •/9 3L/ /.5 a _ 8 181.250 yq 3 L/ /6- P- 9 187.250 iig `3't-?- ! 3 10 193. 250 L/� - ,3 ,.>,_ /7 5- 11 11 199.250 yG, 3 / /5 12 205.250 y? 3 / /7 13 211.250 ii? 3L/ 13 Li J(23) 217.250 1-7/7 a - /PI K(24) 223.250 V (25) 229.250 “26) 235.25 N 7) 241. 0 0(.2:) 247 250 P(.29' 25 .250 Q(30) 2'9.250 R(i) :65.250 H.P.' 2 0.0 - - -- - S 27 .250 T 277. 50 U 283.2:0 289.25# W 295.250 , Comments: System Monthly Monitor Point Readings pc7 g Date /6 b Technician arj. Time q,',/5 Temp. -39 d Test Point Location and # �L,,,t �"�e �'N�✓ plc ,u) An, GASGA-ci Picture Quality CH Video Carrier Freq. MHz Video. Carrier Level DBMV Audio Carrier Level DBMV Diff DB Peak to Valley DBMV Hum % S/N Ratio dB 1.Reats • 4.Ghosts 2.Hum 5.X -Mod 3.Electrical 6.Color Noise DefectsA 2 55.250 y0 e S /5 a,77' n I 1 G aor% 3 61.250 3T OD- /7 Io 4 67.250 37 a- 17 % 5 77.250 39 Os 1 y to '/5 6 83.250 . q C) P 4( . . /6, 5 FM 88 103 30 ► 4/� LP .,5 A(14) 121.250 I/0 a 7 /.3 5 . B(15) 127.250 lid P3 /7 - C(16) 133.250 L/C) a3 l7 E . D(17) 139.250 10 .3 /7S ` E(18) 145.250 V,:,J 3 /3 p F(19) 151.250 110 ;,74/ /4, 5 I G(20) 157.250 3g .?s is -3 7 r H(21) 163.250 3 `i i-95 JL 10 1(22) 164.250 3 q . :) (r - /3 7 175.250 q a— «5? /L/ 3' 8 181.250 I/1 (d 13 7 9 187.250 ti a - a 7 15 3 r 10 193.250 Id 5 ,a q 162 11 199.250 lig a Ft /t, 1 12 205.250 'ty (3.,77 % 13 217..250 O. 0 1..3 J(23) 217.250 ttt q. K(24) 223.250 L(25) 229.250 • A (26) 235.25 N '7) 241. 0 0(2:) 2.47 250 P(2 25 '.250 Q(30) 2:9.250 . •_ R(1) "65.250 H.P. 2 0.0 ___-__ --- S 27 250 0 , T 277. 50 - ®® 283.2 0 ran 289. 25� _ 11111 295.250 omments: ' f�,, �/.� f.) .1I [-P - rc!f,.0 1,v0vM - F1Mp --19,.h *__ ► �, is ,/ 16 ©B ti 1 c w I V Monthly Monitor Point Readings Sys tem�h0. A ' Og Date /s�,�g �Y4 Technicians s� Time /01,36 Temp. ./,`) Test Point Location and #-50A /r1AiA1 -4- J 35 Ar, cpsc401 v�v k' CH Video Carrier Freq. MHz Video Carrier Level DBMV Audio. Carrier Level DBMV ' Diff DB Peak to Valley DBMV Hum % S/N Ratio dB Picture quality. 1.Beats 4.Ghosts 2.Hum 5.X -Mod .3.Electrical 6.Color Noise Defects 2 55.250 31 76 IL% - ELirr pi/ Gaol 3 61.250 3,L /(f) , / 1 .2 , 4 67.250. 30 /Li /Co LI c • 5 77.250 3/ IT ./3 3 .t13 6 83.250 ,33 l X 15 1 I FM 88..10.3 f LP. 30,. f • A(14) 121.250 3/ Ig /3 3 t . B(15) 127.250 30 I (, /' y C(16) 133.250 g /5 %o 3 1 r D(17) 139.250 30 /LI - a. 1i • E(18) 145.250 3 /3 /-5 IO F(19) 151.250 e2 9 . % 3 %l 5 1 G(20) 157.250 /3. /. g i H(21) 163.250 0.3 (a- (o to I(22) 164.250 % • . ILI • 13 % 7 175.250 . 30 /S i 8 181.250 .30 ,/,5 /S /5- Li ----9 -187.25B 10 193.250 10 j..5 Jr; Li .f 11 199.250 3/ /L/ 'i 73 1 1.2 205.250 3 /3 17 13 217.250 a J. I 1 4 J(23) 217.250 r27 7 -X LJ J K(24)223.250 L(25) 229.250 (26) 235.251 N 77) 241: 0 0( :) 247 250 P(29 25 .250 . Q(30) 2'9.250 R(1) '65.250 • H.P. 0.0 S. v2 27 .250 • 277. 50 U 283.2 0 . 289.25 I 295.250 Comments: Monthly Monitor Point Readings System .4�� c ,,1 D� Date /6/,)q/76 Technician e),�J Time )1; .p p Temp. ) 3 ° Test Point Location and # /)i -A .A/ 1 a CH Video Carrier Freq. MHz Video Carrier Level DBMV 'Audio Carrier Level DBMV Diff DB Peak to Valley DBMV Hum % S/N Ratio dB Picture Quality 1.Beats 4.Ghosts 2.Hum 5.X -Mod 3.Electrical 6.Color Noise Defects ilg- 3 L/ %7 a' Lii t‘• hr..- Al t Go 2 55.250 3 61.250 zis` 3a 1 i,, a •' 4 67.250 Y7 3 / %6, 3 5 77.250 y F 37, 1S a .t7 6 83.250 II 0 33 /S FM 3 LP 1-4:8V4988.,103 Lr,�1-4:8V49L/7 A(14) 121. 250 117 33 /'; 3 B(15) 127.250 LWT! _ O /4l 6 C(16) 133.250 1/G 3 / /3 y 1 D(17) 139.250 lig ' 3 I / 7 E(18) 145.250 L/5 3 / " /S/ E F(1.9). 151.250 -i/7 3 / / L 3 G(20) 157.250 (I/0 3:-) / L/ L1• H(21) 163.250 1/7 3I 11, 3 1(22) 164.250 1/6' 3 3 / 3 y • 7 175.250 56 ,3-3 / 7 , - 1 8 181.250 X17 3 Z /g 3 I ' .9 . 187.250 1/S 3 / /4/ 5 . 10 193.250 4/6 31 / `/ 11 ' 199.250 1.17 31 . 11- 3 ! f 12 205.250 y 7 30 /7 3 13 21'1.250 • lig 3.0 /4l /.., J(23) 217.250 `/-5 5. j +71q K(24). 223..250 V V (25) 229.250 . h(26) 235.25 N 7) 241. 0 ' 0(2:) 247. 50 P(29 25 .250 Q(30) 2 9.250 — R(1) •65.250 H.P. 2 1.0 S 271 250 T 277.'5.0 U 283.2 0 _ 289.25 . 9 295.250 Comments: Monthly Monitor Point Readings. System „„r-II4c4-. el cf?. Date o c3 Technician a�✓' Time /a; y 5 Temp. ,3b ° Test Point Location and # QAKAki •j / a&hy • Picture Quality CH Video Carrier Freq. MHz Video Carrier Level DBMV Audio Carrier Level DBMV Diff DB Peak to Valley DBMV Hum % S/N Ratio dB 1.Beats 4.Ghosts 2.Hum -'5.X-Mod 3.Electrical 6.Color Noise Defects 2 55.250 Lilo 3 Po -,,s 3 ---,,a- F,, -t4? • Good' 3 61.250 43 c -a 7 1 b 4, ., 4 67.250. LIS e g %5 % 0 5 77.250 qs . 3e1 /3 Ll )5-/ !r 6 83.250 / 3a / fr FM 88.103 35 '' LP 44440 50 1 is A(14) 121.250 to 3 6 i, _ 1r B(15) 127.250 147 3 b 17. a 1 .. . 1 si.;•!tt C(16) 133.250 in a7 PI W t i SI e.41 -i D(17)" 139.250 q b • o3 / 7 9 .. r.-e,c1 E(18) 145.250 37 J3 /1/ /a ,' F(19) 151.250 WO , c;) 4 11 9 } G(20) 157.250 . LI1 cr7 11/ Z ; H(21) 163.250 Lit) x7 / 3 q I(22) 164.250 L'%a: p . /3 7 .l -7 175.250 1/11 .a9 /5 C • '' 8 181.250 'f Lig 30 /'1 , 9 187.250 1-1-2,,� - 6 /3 6 t :, 10 193.250 Lig. 30 /q 5* 11 199.250 gel a q /6 0 12 205.250 • LJ11 .3 D /y " 13 211-250 - 1N U PI r J(23) 217.250 LH ,3 50 K(24) 250 - v It \L(25}229.250/ ,223. (26) 235.2 . N 7) 24.1. 0 . 0(2 ) 247 250 P(29 25 .250 Q(30)2 9.250 R.(1) 65.250 H.P. 2 .0 __ S 271 250 T 277. 50. - 283.2 0 289.25 V 295.250 -- Comments: Monthly Monitor Point Readings ystem 52-14, c4 b 9'8 Date jo/ay1 Fo Technician Time 1,11.5" Temp. 38' Test Point Location and # ofce;1,44.6 Rte( /3 Ami CAsciad� Picture Quality CH Video Carrier Freq. MHz Video Carrier Level DBMV Audio Carrier Level DBMV Diff DB Peak to Valley DBMV Hum a .S/N Ratio dB 1.Beats 4.. Ghosts 2.Hum . 5.X -Mod 3.Electrical 6. Color • Noise - Defects 2 55.250 y O to 17 171 it (11; 6 6 p cf •. 3 6.1.250 37 ay 15 5 1 4 67.250 3 7 a3 /�e, 5 77.250 4/6 %y f. -7 144 6 83.250 lib OS /5 I FM 88.103 3 6 �00 aill . LP 10&. . A(14) 121. 250 39 a le /3 g B(15) 127.250 i/o a 5 15 1/ C(16) 133.250 IP e, 7 13 • D(17). 139, 250 1-/3 ,2 % / E(18) 145.250 37 a. /7 C • F(19) 151.250 '39 e7.5 /V 5 G(20) 250 9 0 % / 3 11 H(21) .157. 163.250 40 ,27 /- 11 1(22) 164.250 L I "7 / 4' 3 i 7 175.250 ya, ,:27 IS a I 8 181.250 4a 29 /3 , 9 , 187.250 4/ • a 8' / 3 3 3 10 193.250 ljlD aZ --1 % 11 199.250 y3 0 9 /_5/ 1 , 12 205.250 y3 3 v /3 1 13 211.250 ya, ate% /.3 • a J(23) 217.250 4.y '-""' y5 v 1C1.24)_ 22..3.250 �`,� `�� . L(25) 229.250 (26) 235.25$ N 7) 241. 0 . - 0(2 ) 247 250 P(29 25 '. 250 • - • Q(30) 2:9.250 R(1) ' 65.250 H.P. 2 0.0 - -- -_ _ . —_- - ----- S 27 . 250 T. 277. 5 0 . U 283.2.0 289.25+ W 295.250 Comments: J Monthly Monitor Point Readings System •••'14,4‘.4. O j X Time 'f,3 o Temp. #e Test Point Location and # EVA1 rail �a qwy� clg5 CG4 d•c Date 0 a « Technician ' GA./ CH Video Carrier Freq. MHz Video Carrier Level DBMV Audio Carrier Level DBMV. Diff DB Peak to Valley DBMV Hum % S/N Ratio dB Picture Quality 1.Beats 4. Ghosts 2.Hum." 5.X -Mod 3.Electrical 6.Color Noise Defects 2 55.250 I/0 .S 1_6- ler 6 B f 1K dal G- 3 61.250 I/U ca % /3 4 67.250 43 cg. 155 • c - 5 77.250 7.6. 3 / ly 3 _Vo } 6 83.250 15 3a /3 .3 . FM 88.103 35 LP 1704-'80 y3 I A(14) 121.250 1/5 ..3 d 15 3 B(15) 127.250 1/a 0/8./9 p1 i C(16) 133.250 1/9, ag /1/ (0 } I D(17) 139.250 IN 3/ /3 y {{1 i I E(18) 145.250 45 pq 1G 3 11 s F(19) 151.250 1(3 ..3D 13 5 t• G(20) 157.250 1/3 oq 111 ((f `{ H(21) 163.250 4/3 30 /3 L(22) 164.250 r' 30 /// y. 7 175.250 7•. 3 a /L "' I 8 181.250 y/ 3/ /3 i 9 187.250 113 • ,D9'i'7 6 i 10 193.250 1/3 30 /3 5 1 . 11 199.250 ,/ 36 15 3 t1� 12 205.250 y/ aq /6 ti I 13. 211.250 1/3 mi r /5 & 1 J(23) 217.250 1/3 6 - . 31 . K(24) 223.250 `/ v L(25) 229.250 M(26) 235.250. 0 N(27) 241.250 0(28) 247.250 P(29) 253.250• Q(30) 259.250 R(1) 265.250 H.P. 270.0 -- ___ . - -. S 271.250 T 277.250 U" .283.250 V 289.250 . W 295.250 0 Comments: r 1 0 Monthly Monitor Point Readings System •-r-1tic.ra • `I F Date J6/3 o/r& Technician Q �� Time )0; 3Q Temp. 3f?, Test Point Location and # Rd31/ l..' 14 ti, r.i4S cr�riQ c f'; 6c --roes, Picture Quality. CH Video Carrier -Freq. MHz Video Carrier. Level. DBMV Audio Carrier Level DBMV Diff DB Peak to Valley DBMV Hum o - S/N Ratio dB 1.Beats 4.Ghosts 2.Hum • 5.X -Mod - 3.Electrical 6.Color Noise Defects 2 55.250 y5 36 )5 5 ei 6; 3 61.250 y 5. • 4 67.250 1-17 3 3 . )y 3 5 77.250 L/ 7 • 3 4 1.3 6 83.250 3- 3:S . / 5 - FM 88.103 1-10 _ LP 114- ION lit* • A(14) 121.250 /16, 3 3 / 3 B(15) 127.250 L/3 g /5 7 C(16) 133.250 IN -36 I y 4. D(17) 139.250 iiip 3 1 15 q . E(18) 145.250 1 -Up .3 4 ) � F(19) 151.250 / 11/0 3/ IS Y G(20) 157.250 tJ% 31 go . 3 H(21) 163.250 Li 5- 31 %L 5 - I(22) 164.250 Lf b - 31 . /5 q 7 • 175.250 113 a. / a 8 18.1. 2'50 L/�o. 3a I y . 5 9 187.250 Ly • 9 ..j5 . 10 193.250 yLI a9 15. 11 199.250 LJL/ p 9 15 to.� 12 205.250 i'y 7 ) (a 3 13 21'1.250 ill b 7 . /L/ . . J(23) 217.250 q) ! - #J, K(24) 223.250 U L(25) 229.250 . 1 (26") 235.251 N 241. sO .7) 0(2:) 247 250 P(29 25:.250 2:9.250 .Q(30) . R(1) 165. 250 H.P. 2 0.0 __--- - - _- __ - S 27 .250 3 T 277.950 U 283.2:0 • 289.251 W 295. 250 . Comments: Monthly Monitor Point Readings Date yo - ; d Technician �o System f/i cA ' OY r Time % p ; --42 Temp. y66 Test Point Location and # lY1 coo R� %- �(g Picture Quality CH Video Carrier Freq. MHz Video Carrier Level DBMV Audio Carrier Level DBMV Diff .Valley DB Peak to DBMV Hum % S/N Ratio dB 1.Beats 4.Ghosts 2.Hum 5.X -Mod 3.Electrical.6.Color Noise Defects 2 55.250 1/5 aI /7 2 M-1:( f#.1a Excel/eAr 3 61.250 y3% a7 I&'/a 3Ya- 4 67.250 ya `/a a $ /Th- 4'l- 5 77.250 L/5 30 j5 - 57 6 83.250 _ IN 3/ /2/ FM .103 .3 Y �8 ho 'I-5Ya_ LP 108-: A(14) 121.250 i -p/ Oo 1 y B(15) 127.250 Lit/ 20 ill 3 C(-16) 133.250 41 5 3 0 15 P. . D(17) 139.250 L jP.30 /(' E(18) 145.250 LP/aT- 15 . 3. F(19) 151.250 y 30. 15 • G(20) 157.250 15 z1L 21 15 1 H(21) 163.250 Y7 30 17 " I(22) 164.250 113Ya- 3.0 13X. 3Y-. 7 175.250 1/1/)3 31 . 3 8 181.250 '/5 30 15" 9 187.250 Lig . 3 / 13 3 i . 10 . 193.250 if.S la 3.0 % y4 f 1-4- 11 199.250 45\4 Sat /3U 1 Y. i f 12 205.250 '/1 ,,n 17 1 13 211.250 y5 9 HP 2 J(23) 217.250 415 a - V V _K(241,223.250 \L(25) 229.250 (26) 235.251 N 77) 241. 0 0( :) 247 250 • P(29 25 .250 . Q(30) 219.250 R(1) '65.250 H.P. 2'0.0 --- - _ - -- S 27 •.250 T 277. 50 283. 0 289.2 W 295.250 . Comments: Monthly Monitor Point Readings System 5-4-A)cCia 0,7g Date /Wag/7,0 Technician Time r7) ; p U Temp. /f '3 Test Point Location and # i 9 07 Amo casciade. t S Ri �U i QrJ CH Video Carrier Freq. MHz Video Carrier Level DBMV Audio Carrier Level DBMV Diff DB Peak to Valley DBMV Hum o S/N Ratio dB Picture Quality - 1.Beats 4.Ghosts 2.Hum 5.X -Mod 3.Electrical 6.Color Noise Defects etfei. A 11 . Cood 2 55.250 L.1@, Q it "' 3 J� 61.250 110 , W./ /1- a t 4 67.250 37 a1 ll 5 . %{lp 1 } - 5 77.250 Q . , /3 Li 1 6 83.250 (ID ab /L/ P, -. FM'' 88I8; 103 3b . LP 1.0.800 35 I A(14) 121.250 _36, c::23 /3 fp I B(15) 127.250 35 QI /4/ 7 I C(16) 133.250 31/ • - /5 %t" ? b {1 t D(17) 139.250 3 r/ , �.. E(18) 1.45.250 '7/ 17 %I 1/ t, F(19) 151.250 3 /g /1 /o l G(20) 157.250 33 19 lY 9 S . H(21) 163.250 33 li /7 9 1 1(22) 164.250 3/ Ho 1.5 1/ 7 175.250 31 17 .I ! /f . 8 181.250 33 QD /3 0• 9 187.250 3a • -17 13 /D II 10 193.250 33 10 /3 7 11 199.250 31/ 17 17 ? 12 205.250 33 19 1'1 9 f • 13 21'1.250 3 Lit • /7 ii ! J(23) 217.250 33 7 . + u q f KS24) 223.250 Y \L(25) 229.250 k (26) 235.251 0.27 241. 0 0( ) 247 250 . P(29 25 .250 Q(30)\ 219.250 R(1) H.P. ``65.250 27,0.0 -- - -- - - - -- - - - - S 27,.250 T 27750 U 283.20 289.25 W 295.250 Comments: