ahhaha, Maybe some damage control in hopes of keeping Comcast a partner?? Can you comment..The thread is sorely lacking your input
Mike
Thursday April 8, 3:49 am Eastern Time
AT&T to lose some control of At Home-WSJ
NEW YORK, April 8 (Reuters) - AT&T Corp. is expected to give up some of its control
over its At Home Corp.(Nasdaq:ATHM - news) joint venture because AT&T's cable
television unit did not meet benchmarks in signing up new subscribers for a high-speed
Internet service, the Wall Street Journal reported on Thursday.
Citing people familiar with the matter, the newspaper said Redwood City, Calif.-based At
Home is expected to file an outline of a new structure that would move some of the control to the venture's two other big
cable TV backers, Comcast Corp.(Nasdaq:CMCSA - news). and Cox Communications Inc.(NYSE:COX - news).
The phone giant previously had dominant control over the Internet and Web services distributor via rights it got when it
bought cable TV company Tele-Communications Inc. (TCI) for $55 billion.
AT&T would still hold significant influence over At Home because it is the biggest stakeholder, with 71 percent of the
company, people close to the matter told the newspaper.
Under the original At Home partnership pact, TCI had promised to sign up tens of thousands of customers for At Home
services.
People familiar with the matter told the newspaper that TCI recently said it missed those benchmarks by more than 50,000
customers amid decisions to cut back on spending to upgrade its cable TV lines, which were needed to transmit At Home
high-speed data services. The decision was later reversed, but not soon enough.
AT&T recently agreed to new benchmarks for adding At Home subscribers, and agreed to pay Cox financial penalties if TCI
again fails to reach the benchmarks, people close to the venture told the newspaper.
It also agreed to small changes that would give greater control of the venture to Cox and Comcast.
AT&T closed up 4-15/16 at 84-15/16 on Wednesday. At Home closed up 3-11/16 at 165-13/16.
More Quotes
and News:
At Home Corp (Nasdaq:ATHM - news)
AT&T Corp (NYSE:T - news)
Comcast Corp (Nasdaq:CMCSA - news)
Cox Communications Inc (NYSE:COX - news)
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