Silicon Investor (SI) -- The First Internet Community

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 : WorldGate Communications, Inc. (WGAT) -- Ignore unavailable to you. Want to Upgrade?

To: John F Beule who wrote (302)	6/19/1999 7:24:00 AM
From: John F Beule	Read Replies (1) \| Respond to of 589

AT&T in talks to swap cable assets By Reuters Special to CNET News.com June 18, 1999, 2:00 p.m. PT Phone and cable television giant AT&T said today 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. discussions with Adelphia Communications, Comcast, Charter Communications, and Cox Communications to swap cable systems, AT&T spokesman Mark Siegel said. 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, said some of the swaps may include assets controlled by MediaOne Group, which AT&T plans to buy for about $58 billion. AT&T recently acquired Tele-Communications Incorporated 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. Industry analysts have speculated that AT&T would undo some cable partnerships or affiliations to reduce its market share to levels more palatable to regulators. The Federal Communications Commission's cable ownership rules are currently in limbo, and it remains unclear what percentage of market share AT&T and other cable operators will ultimately be allowed to control. Story Copyright © 1999 Reuters Limited. All rights reserved