Classic Communications Inc. has tapped two former TCA Cable TV Inc.
executives to fill the roles of chief financial officer and general counsel.
Classic, which has about 404,000 subscribers in mostly rural areas, named
Jimmie Taylor -- former vice president, CFO and treasurer of TCA -- to be its
new CFO. Taylor replaces John Geisler, who held the position on an interim basis
since December. Geisler -- who is also a partner in Brera Capital Partners,
Classic's largest shareholder -- will remain on the MSO's board of
directors.
Randall Clark, former general counsel and vice president of operations for
TCA, was named general counsel at Classic.
'Under executive leadership of this outstanding caliber, we are confident
that our company is well prepared to meet the challenges and opportunities of a
growing and changing industry,' Classic chairman James Kofalt said in a prepared
statement.
TCA, which had about 800,000 subscribers, was similar to Classic in that it
operated mainly in rural markets.
However, before being sold to Cox Communications Inc. in 1999 for $4 billion
in cash and stock, TCA had the distinction of being the only sizable publicly
traded cable operator to consistently show earnings and to pay dividends to
shareholders.
Classic is coming off a management shakeup last year that saw its CEO and
chief operating officer resign. The company's stock is down more than 90 percent
since its initial public offering in December 1999. Classic stock was off 31
cents per share to $1.75 each in afternoon trading.
