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Strategies & Market Trends : Rande Is . . . HOME
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To: Rande Is who wrote (8457)6/20/1999 2:36:00 AM
From: Rande Is  Read Replies (5) of 57584
 
AT&T Says In Talks To Swap Cable TV Assets

Sunday June 20 12:03 AM ET

NEW YORK (Reuters) - Phone and cable television giant AT&T Corp. (NYSE:T - news) said Friday it was in talks to swap certain cable assets in a move that would further the trend of cable operators dominating certain markets and regions.

AT&T was in discussions with Adelphia Communications Corp. (Nasdaq:ADLAC - news); Comcast Corp. (Nasdaq:CMCSA - news); Charter Communications; and Cox Communications Inc. (NYSE:COX - news) to swap cable systems, AT&T spokesman Mark Siegel said. He confirmed comments by AT&T cable chief Leo Hindery in an interview with USA Today Friday.

AT&T said the deals could be forged by mid-July.

Exchanging assets would allow the companies to focus their operations in certain regions of the country rather than serving far-flung areas. AT&T said if the talks are successful New York and Los Angeles would be the only major U.S. cities served by more than one cable company.

AT&T, the No. 1 U.S. long distance phone company and No. 2 cable operator, said some of the swaps may include assets controlled by MediaOne Group Inc., which AT&T plans to buy for about $58 billion.

AT&T recently acquired Tele-Communications Inc. (Nasdaq:TCOMP - news) and expects the MediaOne deal to close by the end of the first quarter of 2000. Through these deals, AT&T's cable operations will reach about 24.5 percent of U.S. households.

AT&T estimated that within a year, seven cable operators will serve about 93 percent of the nation's 67 million cable customers. . . . . .
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