Re: Continental/MediaOne/AT&T/?

[Kevin Vahey <crimson@channel1.com>]

Comcast would be better for the consumers but don t discount COX only
because with their RI and CT properties it would be a nice fit.

It is a mess.


On Sat, 23 Dec 2000, Mark Shneyder wrote:

> 
> --- lglavin@lycosmail.com wrote:
> ...
> > This means AT&T has to pay a certain strike price
> > for a stock called EXCITE@HOME that has tanked worse
> > than Dr. Laura. Since they lack the moolah to do this, 
> > it's possible they will sell some of their cable TV
> > ventures to raise $$$$$$...3-billion worth. It doesn't
> > mean Comcast or Cox will necessarily get the properties 
> > or that any in Massachusetts will be put on the block,
> > but it sure looks that way.  
> 
> The problem seems to be that their catv/internet operation
> is eating away at the profits...They already told Wall Street
> investors on Thursday that 4th qtr earnings will be way
> below expectations. Plus, their stock price 
> hit the 52-week low this week. When their 4th qtr earnings
> come out, it will probably drop their stock even lower. WS
> is brutal.  AT&T Broadband could be a very attractive buy for
> someone like Comcast which dominates Philly and Motor City.
> 
> In addition, FCC ruled(4-1) against AT&T yesterday for
> failing to comply with basic merger conditions  when they 
> absorbed MediaOne this year. They either have to sell
> large interest in cable programming or divest a large
> chunk of their operations(about 10mill subs), which will
> also include some Mass. systems. Cable programming is where
> the money is in the cable industry and it's way
> more profitable than operating cable systems. My bet is
> that they(AT&T) will sell and sell big this time to stop their
> stock from bleeding so much. I just hope it's Comcast and not
> Cox which will tell us what to watch and why.
> 
> Two weeks ago, Comcast put $1billion of its stock bonds out there
> to raise future acquisition $$$. Guess what they'll be having
> for dinner very shortly?! :)
> 
> Boston/Brookline subs are about go from Cablevision to AT&T to (probably)
> Comcast in mere 3 months. Unreal.
> 
> -Mark
> 
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