News

Lenfest: Flat Cash Flow

11/22/1998 7:00 PM Eastern

Oaks, Pa. -- Lenfest Communications Corp. said its
third-quarter cable operating cash flow was essentially flat, while its revenue rose 3.6
percent, as programming and service costs rose.

Lenfest also reported relatively strong subscriber growth
of 2.5 percent year-over-year, ending Sept. 30 with 1 million basic customers in its
Philadelphia-area cluster. Lenfest is half-owned by Tele-Communications Inc. and half
owned by Gerry Lenfest.

In the quarter, Lenfest's cable revenue rose to $108
million from $104.2 million, and its operating cash flow rose 0.8 percent, to $53.5
million. The company's cash-flow margin declined to 49.5 percent from 50.9 percent a year
ago.

Overall, Lenfest's revenue rose 6 percent in the quarter,
to $119 million, and operating cash flow rose 2 percent, to $52.1 million.

September