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 : IATV-ACTV Digital Convergence Software-HyperTV -- Ignore unavailable to you. Want to Upgrade?

To: Stealhead who wrote (5705)	7/27/1999 9:09:00 AM
From: art slott	Respond to of 13157

Cox May Buy Gannett Cable TV Assets NEW YORK (AP) -- Cox Communications Inc. plans to buy the cable TV assets of Gannett Co. (NYSE:GCI - news) for $2.7 billion in the company's second substantial acquisition this month, The Wall Street Journal reported today. Under terms of the agreement, Cox would get about 525,000 cable subscribers in Oklahoma, Kansas and North Carolina, the Journal said, citing unidentified sources familiar with the all-cash deal. Cox would be paying about $5,100 per subscriber, a new high in the cable industry, the newspaper said. The deal would clean out the cable television assets of Gannett, a publishing giant. Officials at Cox, based in Atlanta, and Gannett, based in Arlington, Va., declined to comment to the newspaper. Earlier this month, Cox agreed to swap its AT&T (NYSE:T - news) stock valued at $2.8 billion for AT&T-owned cable television systems in seven southern and western states. Cox also plans to buy TCA Cable TV in a $4 billion deal involving 883,000 subscribers, Cox's biggest acquisition to date. Cox stands to have around 6 million subscribers, putting it in contention for the industry's No. 3 spot alongside Comcast Corp. (Nasdaq:CMCSA - news; Nasdaq:CMCSK - news) and behind AT&T. About 75 percent of the Gannett systems have been upgraded to handle interactive television, high-speed access and telephone service. A few years ago, cable customers fetched about $1,500 each. In June 1998, AT&T spent $3,500 per subscriber for the customers of Tele-Communications Inc. (Nasdaq:TCOMP - news), a record at the time. Earlier this year, AT&T agreed to spend $4,700 for each subscriber of MediaOne Group. -------------------------------------------------------------------------------- More Quotes and News: AT&T Corp (NYSE:T - news) Comcast Corp (Nasdaq:CMCSK - news; Nasdaq:CMCSA - news) Cox Communications Inc (NYSE:COX - news) Gannett Co Inc (NYSE:GCI - news) MediaOne Group, Inc (NYSE:UMG - news) TCA Cable TV Inc (Nasdaq:TCAT -