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Technology Stocks : AUTOHOME, Inc

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To: ALTERN8 who wrote (27655)	4/18/2001 9:18:41 PM
From: ALTERN8	Read Replies (1) of 29970

FCC Launches AT&T-MediaOne Review By Ted Hearn Multichannel News 4/18/01 3:46:00 PM The Federal Communications Commission announced its next move Wednesday in connection with suspended merger conditions that apply to AT&T Corp.'s acquisition of MediaOne Group Inc. The agency suspended the merger conditions -- one of which required AT&T to sell its 25 percent stake in Time Warner Entertainment by May 19 -- after a federal court tossed out one FCC cable-ownership rule on which the merger conditions were based. In a public notice, the FCC asked for public comment on the relationship, if any, between the court decision and the suspended merger conditions. Initial comments are due May 11 and reply comments May 25. In the court case, a panel of the U.S. Court of Appeals for the District of Columbia Circuit ruled that an FCC rule that limited one cable operator to no more than 30 percent of all pay TV subscribers was unconstitutional under the First Amendment. AT&T, which challenged the validity of the rule, was the only cable operator with more than 30 percent of subscribers after acquiring MediaOne. The FCC ultimately ordered AT&T to sell its TWE stake to get below 30 percent, but the agency suspended that action after the March 2 court ruling. In the notice, the commission generally asks what effect the court ruling had on the merger conditions and specifically asks whether it should require the TWE sale despite the court ruling. Three public-interest and consumer groups, led by Media Access Project, asked the FCC April 13 to impose the TWE-sale mandate under the agency’s duty to protect the public interest.

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