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To: yihsuen who wrote (11946)	6/30/1999 10:26:00 PM
From: GraceZ	Read Replies (3) \| Respond to of 29970

Paul Allen strikes again.... Wednesday June 30, 9:31 pm Eastern Time Charter To Buy Bresnan NEW YORK (AP) -- Paul Allen's Charter Communications agreed to buy Bresnan Communications for $2.1 billion in stock and cash, the latest in a series of purchases that have made Charter the nation's fourth biggest cable company. Bresnan is 50 percent owned by AT&T's (NYSE:T - news) Broadband and Internet Services, the former Tele-Communications Inc. (Nasdaq:TCOMP - news) AT&T, which will emerge with an equity stake of less than 5 percent of Charter, has been buying and partnering with the nation's top cable companies to use their wires for telephone and Internet services. It wasn't clear with the Charter would lead to a similar venture. The deal, which also includes the assumption of $1 billion in debt, will add 690,000 customers to the privately held Charter's 5.5 million subscribers. Jerald Kent, president and CEO of the St. Louis-based Charter, said Wednesday the deal would extend Charter's reach in Wisconsin, Minnesota and Michigan. Bresnan, based in New York also has customers in Nebraska. Allen, who co-founded Microsoft Corp. (Nasdaq:MSFT - news) with Bill Gates, purchased Charter in July 1998 and has spent about $16 billion on cable purchases over the past two years. In May, Charter bought Denver-based Fanch and Falcon Cable TV of Los Angeles for $3.6 billion. The buying spree has moved Charter behind only AT&T Corp., Time Warner Inc. [NYSE:TWX - news] and Comcast Corp. (Nasdaq:CMCSA - news; Nasdaq:CMCSK - news) Bresnan's other owners include founder William J. Bresnan and affiliates, who own 10 percent, and affiliates of Blackstone Capital Partners III, a New York private equity fund that acquired 40 percent five months ago. My comments: It looks like HSAC,GNET and Vulcan are gearing up to give EXCITE@HOME/AT&T a run for the broadband baton here's another article:http://cnnfn.com/1999/06/30/deals/charter/ It's not just the TV watchers that Charter is after. Through its cable lines, Charter offers both television and high-speed Internet access, a rapidly growing money maker for cable companies. The two leading firms in the high-speed Internet connection industry are @home (ATHM) and Road Runner, which is partially owned by Time Warner, the parent corporation of CNNfn.com.