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To: Bob Strickland who wrote (39493)	3/26/1999 1:49:00 PM
From: DiViT	Respond to of 50808

Merger Fallout: Comcast-MediaOne Deal Touching Many Bases 03/25/99 CABLEFAX (c) 1999 Phillips Business Information, Inc. In addition to expected regulatory scrutiny, the influence of Comcast's [CMCSA] merger with MediaOne [UMG] could extend beyond the AT&T [T]/TCI mega-deal: Internal Comcast and MediaOne are sparring with Time Warner [TWX] about whether TW has veto rights over the pending merger. TW believes it has limited power over MediaOne agreements. It may be more ceremony than anything else since TW Chmn Gerald Levin says he's not seeking to alter TW's partnership with MediaOne, and that TW is "very comfortable" with the Roberts and Comcast. Also, he doesn't necessarily foresee a merger between high-speed leaders @Home [ATHM] and Road Runner. One thing that could help: MediaOne formally signing off on the AT&T/TWC telephony pact. Programming MediaOne's and Comcast's lineups will meld eventually in overlapping areas, Discovery Nets Snr VP of affiliate sales and marketing Bill Goodwyn predicts. Mature nets from Discovery and Turner may be untouched by the merger in overlapping areas, but fledgling networks could lose distribution if they are not carried by the controlling system in a MediaOne/Comcast shared market once contracts expire. Economically, the increased size from the merger could have some influence since a 10mln+ sub Comcast could negotiate better programming rates. "If anything, it makes it easier to deal with one entity with that kind of scale." Vendors "We're hoping [the merger] is an exclamation point to MediaOne's decision to roll-out digital aggressively," says GI [GIC] Snr VP and GM of digital network systems Dave Robinson. A company with a 10mln+ sub base that uses a single platform would offer a strategic advantage in the open infrastructure world, but won't have an immediate impact on GI's set - top contracts because it has multi-year contracts with both companies, he says. Int'l Shares of UK op Telewest [TWSTY] have been surging on speculation that it could be takeover candidate. One scenario includes Comcast gaining a controlling stake in Telewest, or even full ownership, if AT&T decides to cut its stake in Telewest. - Meanwhile, One 2 One, the UK mobile phone company owned by Cable&Wireless and MediaOne, could be poised for an IPO or sold outright for as much as $13.1bln, according to Lehman Bros, which is advising MediaOne on its int'l wireless properties.

To: Bob Strickland who wrote (39493)	3/26/1999 5:35:00 PM
From: John Rieman	Respond to of 50808

High access fees may slow Venus................................ wired.com Selling Microsoft's Venus in China: The software giant's Venus operating system is intended to allow Chinese electronics firms to combine a Web browser, low-end PC, and video CD player in a set-top box. Sounds good. All that stands in its way is an overburdened Internet infrastructure and high online fees. Bruce Ren, Microsoft's China manager in charge of the Venus project, said Beijing was addressing the issue with massive spending on telecommunications infrastructure. The bigger issue was high telecommunications fees, he said. Chinese Premier Zhu Rongji raised the hopes of Chinese consumers -- and Microsoft executives -- last week when he said he wanted fees to fall "several times" more than they had. But Zhu gave no timeframe for further cuts and analysts said he could face heavy resistance from China Telecom's government allies.