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To: Jing Qian who wrote (8685)	4/26/1999 4:35:00 PM
From: Jacktoad	Respond to of 29970

Comcast, AOL May Make Joint Offer for MediaOne, CNBC Says Technology News Mon, 26 Apr 1999, 4:33pm EDT Comcast, AOL May Make Joint Offer for MediaOne, CNBC Says New York, April 26 (Bloomberg) -- Comcast Corp. President Brian Roberts is focusing on a partnership with America Online Inc. as his best hope for a counter bid to AT&T Corp.'s unsolicited offer for MediaOne Group Inc., financial news network CNBC reported, citing unidentified sources ''close to Comcast.'' CNBC said sources told it there is a 50 percent chance for such a joint bid, as AOL would want equal, if not outright control of the combined entity, something Comcast would not want to give up. Neither Comcast or AOL officials would comment on the matter, CNBC said. AT&T made an unsolicited $62.5 billion bid for Englewood, Colorado-based MediaOne last week, which topped Comcast's earlier bid of $56.5 billion. (CNBC 4/26 www.cnbc.com)

To: Jing Qian who wrote (8685)	4/26/1999 4:40:00 PM
From: Ron Dior	Read Replies (3) \| Respond to of 29970

Jing you must remember that "CASH IS KING". AOL+Comcast will have to offer a stock/cash deal. ATT will not have to! T has caught Comcast with their pants down and now they will make a desperate attempt. T has been planning this for a while and IMO the trap has been set for Comcast. This only helps to show that AOL is in a dead arena and they know it. Ron Dior

To: Jing Qian who wrote (8685)	4/26/1999 5:55:00 PM
From: Sleeper	Read Replies (1) \| Respond to of 29970

Another review of the possible T/AOL battle over UMG... Sleeper Media One, AT&T set to open talks Comcast moves to outgun Ma Bell's $62 billion offer By Jeffry Bartash, CBS MarketWatch Last Update: 5:25 PM ET Apr 26, 1999 NewsWatch Media Report Telecom Report BASKING RIDGE, N.J. (CBS.MW) -- Cable operator Media One said late Monday it agreed to a "confidentiality" pact with AT&T, the first step in a move to open up formal acquisition talks. As the two companies get set to initiate talks, Comcast (CMCSK: news, msgs) is seeking ways to beat AT&T's $62 billion offer, perhaps with the help of key allies. Comcast agreed to buy Media One (UMG: news, msgs) in March in a deal that would now be valued at about $53 billion, but the pact left a 45-window for Media One to solicit other offers. See press release. Shares of Media One rose 1 7/16 to 78 13/16, while Comcast fell 1 13/16 to 66. Comcast spent the weekend with bankers reviewing options. Several big technology players, including Microsoft (MSFT: news, msgs), America Online (AOL: news, msgs) and billionaire venture capitalist Paul Allen, have discussed acting as a "white knight," The Wall Street Journal said Monday, quoting sources close to Comcast. AT&T (T: news, msgs) chairman C. Michael Armstrong spoke with executives of those companies, however, and did not believe they would aid Comcast, the Journal said. Some of those companies are worried that AT&T could gain too much control over cable TV wires to the home. Cable lines could prove the best route to high-speed Internet and other telecom services, which would affect phone carriers, online services and computer companies alike. AOL, for example, is worried that it could get shut out by AT&T from providing its services over cable lines -- at least not without paying a big markup that could drive customers to AT&T's chosen Internet service instead. If AT&T were to succeed in its acquisition of Media One, it would reach more than 50 percent of U.S. households. Earlier this year, Ma Bell bought Tele-Communications Inc., the second largest cable operator, for $59 billion. It also struck a deal with Time Warner (TWX: news, msgs), the biggest cable provider, to offer high-speed service over its lines. AT&T made a surprise bid for Media One Group on Thursday. Its stock, a component of the Dow Jones Industrial Average, dropped for the second day in a row, off 1/2 to 52 7/8. The company is set to release first-quarter results Tuesday morning. Some analysts suggested the purchase could cut earnings by much more than the company is letting on, never mind the billions more AT&T has to spend to upgrade all its cable holdings to handle phone calls. The benefits of its cable moves, moreover, won't pay off for several years. In addition, the phone carrier may have to buy more cable assets, which could further dilute profits. While AT&T said Friday it doesn't plan any more major cable acquisitions, analysts note that just a few weeks ago executives were telling them the very same thing. AT&T is angling to muscle back into local phone service -- from which it was barred 15 years ago -- and to gain a dominant role in high-speed Internet and data services. Ultimately, AT&T wants to transform itself into a one-stop provider of telecom services. It sees cable wire as the best way to deliver them. To become "a one-stop provider," AT&T has to find a way to bypass the Baby Bells, which control most local wires to homes and businesses.