Microsoft hedges its bets to thwart AOL bid for AT&T Broadband
Article Abstract:
Microsoft Corp., in a bid to keep AOL Time Warner Inc. from acquiring AT&T Broadband, is financially backing both Comcast Corp. and Cox Communications Inc. in their bids for AT&T Broadband. Microsoft wants to keep AT&T's 13.7 million subscribers from being added to AOL's 12 million, a group of subscribers unlikely to use Microsoft services or software. Microsoft is pushing its own high-speed Internet services and interactive TV software through its MSN network.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 2001
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MediaOne accepts $54 billion AT&T bid; Comcast has four days to make counteroffer, says it is 'encouraged'
Article Abstract:
MediaOne Group has accepted AT&T Corp.'s $54-billion offer to acquire the cable-television firm, giving Comcast Corp. four days to respond with a better bid. MediaOne's board concluded that AT&T's bid of voting stock and more than $20 billion in cash is superior to that of Comcast's earlier offer of $48 billion in nonvoting stock. Still, Comcast has been lining up potential alternate suitors to provide the financing that it would need to compete with the phone giants' offer. Both Microsoft Corp. and America Online have shown interest in possible involvement, both signing separate 'confidentiality' agreements with MediaOne last week. The potential gain for both of these companies is the 'broadband' market for telephone, high-speed data, interactive video and Internet services. Neither of these two firms want to see AT&T acquire too much control over the cable broadband business, with AT&T having recently acquired cable operator Tele-Communications Inc.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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