Tele-Communications Inc. went public in 1970. At the time, it was the 10th largest cable company in the United States. By 1972, with 100,000 subscribers, Magness needed someone with more business knowledge to run the operation. He decided on John Malone, president of Jerrold Electronics, a division of General Instrument. Malone took on the bankers who wanted to call in their loans, and effectively saved the company from bankruptcy. Magness made Malone CEO but remained as chairman. By 1981, Malone had made TCI the largest cable company in the United States.