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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: EepOpp who wrote (22076)	5/4/1999 10:35:00 PM
From: Maverick	Respond to of 74651

America Online (AOL) decided against forging an alliance with Comcast (CMCSA) in an effort to outbid AT&T (T) for MediaOne Group (UMG). As such, it looks like AT&T will win another prized property in the cable industry, giving the company about a 50% reach and positioning it as one of the major players in the broadband universe. AT&T's appetite for cable being driven by old and new concerns. On the one hand, company wants cable's coaxial networks in order to provide local telephone service. In so doing, T will circumvent the Regional Bell Operating Companies (RBOCs) and the billions of dollars it pays them in local access charges. On the other hand, as major owners of At Home and Road Runner, AT&T stands to gain from the increased demand for high-speed Internet access. At $110 bln (rough costs of TCI and MediaOne), AT&T's broadband strategy is a high-stakes gamble, especially since cable telephony is still widely untested in US market and regulatory approval is far from certain. But if it pays off, C. Michael Armstrong will have transformed Ma Bell into Ma Net. By Briefing.com