SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 3, 1997
CABLE TV FUND 14-B, LTD.
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(Exact name of registrant as specified in its charter)
Colorado 0-16200 84-1024658
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(State of Organization) (Commission File No.) (IRS Employer
Identification No.)
P.O. Box 3309, Englewood, Colorado 80155-3309 (303) 792-3111
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(Address of principal executive office and Zip Code) (Registrant's
telephone no.
including area code)
Item 5. Other Events
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On October 3, 1997, the Cable TV Fund 14 A/B Venture (the "Venture")
entered into an Asset Purchase Agreement with Comcast Corporation ("Comcast"), a
Pennsylvania corporation, to sell the Venture's cable television system serving
portions of Broward County, Florida, including the cities of Davie, Cooper City,
Dania and Lauderdale Lakes (the "Broward County System") to Comcast for a sales
price of approximately $140,000,000, subject to closing adjustments that may
have the effect of reducing the sales price by up to $7,000,000. Cable TV Fund
14-A, Ltd. ("Fund 14-A") and Cable TV Fund 14-B, Ltd. ("Fund 14-B"), both
Colorado limited partnerships (the "Partnerships"), are the partners in the
Venture, owning a 27 percent and a 73 percent interest, respectively. Comcast
is not affiliated with the Venture, the Partnerships or with Jones Intercable,
Inc. ("Intercable"), the general partner of the Partnerships. The closing of
this transaction, which is expected to occur in the first quarter of 1998, is
subject to the consents of governmental authorities and other third parties.
Because the sale of the Broward County System represents a sale of all or
substantially all of Fund 14-B's assets, a vote of the limited partners of Fund
14-B also is required to approve the sale.
Upon the successful closing of the sale of the Broward County System,
the Venture plans to distribute an aggregate of approximately $96,100,000 to the
Partnerships which amount represents the anticipated net sale proceeds following
the Venture's repayment of its credit facility. (Distribution amounts will be
reduced if the sales price is reduced by closing adjustments.) Fund 14-B will
receive approximately $70,100,000 of such distribution and Fund 14-B will, in
turn, distribute such amount to its limited partners. This distribution will
provide Fund 14-B's limited partners a return of approximately $536 for each
$1,000 invested in Fund 14-B.
The Jones Group, Ltd., a subsidiary of Intercable, will receive a
brokerage fee of $3,500,000, representing 2.5 percent of the sales price, for
acting as a broker in this transaction.
The Broward County System is the sole property owned by the Venture.
Fund 14-B continues to own cable television systems in Littlerock, California
and Surfside Beach, South Carolina.
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Item 7. Financial Statements and Exhibits
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a. Historical financial statements.
Not applicable.
b. Pro forma financial statements.
Not applicable.
c. Exhibits.
2.1 Asset Purchase Agreement dated as of October 3, 1997, among
Comcast Corporation, Cable TV Fund 14 A/B Venture, Jones International, Ltd.,
Jones Intercable, Inc., Cable TV Fund 14-A, Ltd. and Cable TV Fund 14-B, Ltd.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CABLE TV FUND 14-B, LTD.
By: Jones Intercable, Inc.,
its general partner
Dated: October 15, 1997 By:/s/ Elizabeth M. Steele
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Elizabeth M. Steele
Vice President, General
Counsel and Secretary
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