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To: transmission who wrote (280)	6/1/1999 9:49:00 AM
From: MangoBoy	Respond to of 1860

[Teligent Statement On Liberty Media Group's Proposed Acquisition of the Associated Group] VIENNA, Va.--(BUSINESS WIRE)--June 1, 1999--Teligent today issued the following statement regarding the proposed acquisition of one of its principal shareholders, The Associated Group of Pittsburgh, Pennsylvania, by Liberty Media Group of Englewood, Colorado. The statement should be attributed to Alex J. Mandl, Teligent's Chairman and Chief Executive Officer. "All of us at Teligent are very excited about the opportunity to work closely with one of the communications industry's pioneers, John Malone, and Liberty Media Group as we continue to build the local broadband pipes that are bringing the world of the Internet and e-commerce to small and medium-sized businesses across the country. "We expect that the planned acquisition, which will give Liberty Media an approximate 40 percent stake in Teligent, will allow us to continue to pursue attractive opportunities as we strive to create value for our shareholders, our customers and our employees in this exciting new environment. "With this investment, Liberty Media is supporting the critical evolution of broadband networks, especially in the business markets, where Teligent is focused. By bringing local broadband access to 74 of the nation's top business markets, Teligent expects to make a significant contribution to the development of the new digital world."

To: transmission who wrote (280)	6/1/1999 9:54:00 AM
From: MangoBoy	Read Replies (1) \| Respond to of 1860

[Liberty Media to buy Associated in $3 billion deal] ENGLEWOOD, Colo., June 1 (Reuters) - Cable TV programmer Liberty Media Group (NYSE:LMG.A) (NYSE:LMG.B) said Tuesday it would buy cellular phone and telecommunications company The Associated Group Inc. (NASDAQ:AGRPB) in a $3 billion all-stock deal. Liberty Media, a leading cable TV programmer which belongs to AT&T Corp. (NYSE:T), said in a statement that it would assume $187 million of Associated debt. Liberty Media said the companies had signed a definitive agreement for the merger. The deal is structured to be tax-free to Associated shareholders. Associated co-founded and holds a roughly 41 percent interest in Teligent Inc. (NASDAQ:TGNT), a provider of broadband communications services to small and medium-sized business customers. Associated shareholders will get 25.89 million shares of Class A Liberty Media Group common stock, or 51.78 million shares following a two-for-one stock split on June 11. Associated stockholders also will get 19.7 million shares of AT&T Corp. Common Stock. They will get 0.6206 shares -- 1.2411 shares post split -- of Class A Liberty Media Group common stock and 0.4727 shares of AT&T common stock for each share of Associated Class A and Class B common stock.