Company Town

Cable: Tele-Communications Inc. said its board approved a plan Thursday that would divide the Denver-based cable TV giant into four separate companies. TCI Chief Executive John C. Malone said the new structure would give the company greater financial and strategic flexibility while still providing “synergies and scale economics provided by a common corporate parent.” Under the plan, first outlined in March, TCI would divide itself into separate companies encompassing domestic cable operations and telephony, programming, international investments and technology. Shareholders would be able to invest in TCI or in any of the four other entities. TCI would maintain a controlling interest in each of the four companies, however. TCI said shareholder approval is expected by spring. A TCI spokesman said the plan would allow the investment community to “appropriately value” the assets of the company. TCI, the largest cable TV operator in the country, serves about 13 million subscribers.