To: BN who wrote (4034 ) 1/20/1999 11:14:00 AM From: art slott Read Replies (1) | Respond to of 4748
I'd say the brokers are getting their best clients the stock based on internal research reports before they announce their buy recommendations. Armstrong gets on AOL's Case AT&T chief says online service's unbundling campaign undermines possible content deal AT&T Corp. Chairman Michael Armstrong needled America Online Corp. Chairman Steve Case over his push for Internet "unbundling" that is snagging the long-distance carrier's takeover of Tele-Communications Inc., saying that if AOL spent less time lobbying regulators the companies could work out some sort of a content deal. Armstrong's comments came as AT&T and TCI executives took to the road to pitch the merger, which must be voted on by shareholders of both companies next month. Their first stop was a wave of appearances at Salomon Smith Barney's annual media investment conference in Scottsdale, Ariz., where 1,400 money manager and analysts for large institutional investors gathered for briefings by a host of media companies. Wall Street executives attending the Salomon conference said Armstrong encouraged AOL executives to come back to the table. "Armstrong said that if they weren't so busy trying to worry about unbundling, he would sit down and talk to these guys about working out a content deal," said one executive. AT&T later characterized Armstrong as positioning himself as open to "a commercial transaction." But another participant in the meeting described the AT&T chief as "annoyed". Armstrong and TCI chairman John Malone have warned that they will scrap the merger if AOL's unbundling campaign succeeds. Case and other online service providers are trying to prod government regulators to force AT&T and TCI to open up access to the high-speed data lines TCI's cable systems are establishing in a number of markets, mostly in the western U.S. TCI is currently offering high-speed Internet service @Home, which includes both transport of traffic from the Web to subscribers' home PCs and its own special content. Case, who is watching new @Home customers quickly drop their old AOL accounts, wants to be able to offer AOL-branded high-speed service over that data network, separating @Home's data transport from its weather, news, shopping, and other products. ______________________________________________________