AT&T agrees to buy US cable giant, TCI, for $37.3 billion

Article Abstract:

AT&T Corp., the largest telecommunications firm in the US, has agreed to acquire Tele-Communications Inc. (TCI), the largest cable television provider in the US, in a stock and cash deal valued at $37.3 billion. The deal, if completed, will enable AT&T to take a share dominated by the Baby Bells, GTE Corp. and other local telephone companies. AT&T will be provided with the digital platform to sell long-distance and local phone service. The announcement caused AT&T share prices to drop by 8.5% to $65.375, while TCI's share prices increased by 11% to $39.75.

Comment:

Agrees to acquire Tele-Communications in a stock and cash deal valued at $37.3 billion

Telephone Communications, AT&T Corp., Telephone services, AT&T Broadband and Internet Services Inc., Article

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Gannett cable-TV assets sold for 2.53 billion euros

Article Abstract:

Cox Communications Inc. has reached an agreement to purchase Gannett Co.'s cable television assets for $2.7 billion (2.53 billion euros). The deal represents the continuing consolidation taking place within the cable television industry. Cox will receive approximately 522,000 cable customers in North Carolina, Oklahoma, and Kansas under the terms of the deal.

Comment:

Cox Communications to purchase Gannett's cable television assets for $2.7 billion (2.53 billion euros)

Radio & TV Broadcasting, Radio and Television Broadcasting, Mergers, acquisitions and divestments, Broadcasting industry, Broadcasting, Gannett Company Inc., Cox Communications Inc.

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Former executive of AT&T to head GlobalCenter Inc

Article Abstract:

Leo Hindery, the former cable TV chief executive officer of AT&T Corp., is planning to become GlobalCenter Inc.'s new chairman and CEO. The company claims it is one of the largest Web-hosting operations in the world.

Specialized Telecom Services, Executive changes & profiles, Officials and employees, Online services, Internet services, Appointments, resignations and dismissals, Abstract, GlobalCenter Inc., Hindery, Leo J., Jr.

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