LAST MILE TECHNOLOGIES - Let's Discuss Them Here Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: WTC who wrote (3334)	4/8/1999 12:08:00 PM
From: Darren DeNunzio	Read Replies (1) of 12823

AT&T Corp. to give up some of At Home Corp. 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.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next