Comcast to buy cable-TV firm Lenfest

Article Abstract:

Comcast Corp. has agreed to acquire Lenfest Communications Inc. in an all-stock deal valued at about $5.55 billion, plus the assumption of around $1.5 billion in debt and other liabilities. Comcast is exercising one of the consolation prizes awarded by AT&T Corp. when it agreed not to counterbid for MediaOne Group, another cable operator, in March. AT&T agreed to give up 1.2 million cable subscribers to Comcast, and promised favorable terms for any phone venture the two might agree to later. In Lenfest, Comcast gains about 1,250,000 customers throughout Pennsylvania, Delaware and New Jersey. Lenfest is also the largest cable operator in Philadelphia, where Comcast is headquartered. This fills the gap in Comcast's service area in the region. Comcast's Class A special common shares closed at $47.875, up $2.9375 in Nasdaq trading.

Wired Telecommunications Carriers, Telephone Communications, Telephone communications, exc. radio, Statistical Data Included, Telecommunications services industry, Telecommunications industry, Internet services, Investments, AT&T Corp., T, Telephone services, Comcast Corp., CMCSA, Cable television/data services, Lenfest Communications Inc.

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Cox touts common ground with AT&T

Article Abstract:

Atlanta, GA-based Cox Communications Inc. is one of several companies interested in purchasing AT and T Broadband from AT and T Corp. Cox hopes that the business-strategy similarities between the two companies will help AT&T CEO C. Michael Armstrong decide in their favor. Both cable-TV companies have cable telephony capacity (the ability to transmit phone calls using the cable-TV lines) which is broadly deployed. If merged, the combined companies would control 1.4 million subscribers. Cox CEO James O. Robbins would run the merged company and has secured financial backing for the merger from Microsoft Corp.

Radio and Television Broadcasting, Radio & TV Broadcasting, Broadcasting industry, Broadcasting, Cox Communications Inc., Comcast Cable Holdings L.L.C., COX

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Charter plans to acquire Falcon Cable

Article Abstract:

Falcon Cable TV is going to be acquired by Charter Communications for cash, stock and debt totaling almost $3.6 billion. Although they are still discussing the deal, neither party sees any problem with the plan and don't foresee any difficulties. Billionaire Paul Allen is expected to pay almost $3,600 for each of Falcon's customers which number almost a million.

Charter Communications Inc., Falcon Cable Television L.P.

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