AOL May Join Comcast to Bid for MediaOne, Washington Post Says
Bloomberg News
April 28, 1999, 4:34 a.m. PT
Washington, April 28 (Bloomberg) -- America Online Inc.'s
Chairman Stephen M. Case suggested AOL could make a joint bid
with Comcast Corp. to acquire MediaOne Group Inc. as AOL seeks to
expand its high speed access to the Internet, the Washington Post
reported. Case said ''some new possibilities have emerged over
the past few weeks'' in regard to high-speed service, and when
asked to what possibilities he was referring, Case answered
''Well, MediaOne,'' the newspaper said. AOL's financial backing
could help Comcast Corp., the third largest U.S. cable-TV
operator, outbid AT&T Corp. for MediaOne, the No. 4 U.S. cable-TV
operator, the Post said.
America Online Inc.'s fiscal third-quarter profit tripled,
exceeding analysts' forecasts, as the No. 1 Internet service
gained new subscribers at a record pace and revenue surged 55
percent.
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