To: MikeM54321 who wrote (3908 ) 7/1/1999 5:22:00 AM From: MikeM54321 Read Replies (2) | Respond to of 12823
Re: Paul Allen's Cable Plant Thread, Here's another purchase. This one is for: Bresnan Comunnications 690,000 subscribers $2.1 Billion + $1 Billion(debt)= $3.1 Billion $4,493/subscriber About the most expensive deal yet (see linked post 3908). Sounds like it's already a HFC plant. I sure hope Allen starts talking about broadband data plans soon. He's probably laying low while T takes the heat in the Oregon ruling. MikeM(From Florida) ______________________________Charter To Buy Bresnan NEW YORK July 1 -- Paul Allen continues to build his Charter Communications cable television conglomerate, announcing a deal to buy Bresnan Communications for $2.1 billion in stock and cash. The deal announced Wednesday is the latest in a series of purchases that have made Charter the nation's fourth biggest cable company. Bresnan is 50 percent owned by AT&T's Broadband and Internet Services, the former Tele-Communications Inc. AT&T, which will emerge with an equity stake of less than 5 percent of Charter, has been buying and partnering with the nation's top cable companies to use their wires for telephone and Internet services. It wasn't clear with the Charter would lead to a similar venture. The deal, which also includes the assumption of $1 billion in debt, will add 690,000 customers to the privately-held Charter's 5.5 million subscribers. Jerald Kent, president and CEO of the St. Louis-based Charter, said Wednesday the deal would extend Charter's reach in Wisconsin, Minnesota and Michigan. Bresnan, based in New York also has customers in Nebraska. Allen, who co-founded Microsoft Corp. with Bill Gates, purchased Charter in July 1998 and has spent about $16 billion on cable purchases over the past two years. In May, Charter bought Denver-based Fanch and Falcon Cable TV of Los Angeles for $3.6 billion. The buying spree has moved Charter behind only AT&T Corp., Time Warner Inc and Comcast Corp.