AT&T's acquisition of MediaOne wins approval by F.C.C.; asset sales are ordered; move causes angry reaction among consumer groups - threat of a lawsuit

Article Abstract:

The Federal Communications Commission approved AT and T Corp.'s purchase of MediaOne Inc., contingent on the sale of assets. The 1996 Telecommunications Act limits a single cable or satellite television provider no more than 30 percent of the market, or 25 mil customers. Without divestiture, AT&T-MediaOne would have 40 percent, or 34 mil customers. Telecom providers, like AT&T are investing to move into growth sectors, like high speed Internet access. An AT&T spokesperson forsees cosumers getting lower prices for improved service. Consumer groups, like the Consumer Union, see less choice for subscribers in a more consolidated industry.

Statistical Data Included, Company acquisition/merger, Internet services, AT&T Corp., MediaOne, Cable television/data services

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Rogers increases Cogeco stake

Article Abstract:

Toronto, Ont.-based Rogers Communications Inc. has increased its stake in Montreal, Que.-based Cogeco Cable Inc. Rogers Communications will buy 900,000 subordinated shares in Cogeco for about $40 million, giving it a 17% stake in Cogeco.

Canada, Rogers Communications Inc., Cogeco Cable Inc.

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AT&T reports another loss; long-distance is weak again

Article Abstract:

AT&T Corp. lost $149 million in it's second quarter with revenue falling 3% to $13.3 billion (excluding sales from AT&T Wireless). The company expects a 4th consecutive loss for next quarter as well. AT&T shares have fallen 23% the past year in a market of fierce long-distance services competition. AT&T Broadband's cash flows rose 5.1% and revenue rose 14%. AT&T's loss was also due to costs related to the sale of AT&T Wireless. AT&T Business lost 1.7% revenue from last year.

Radiotelephone communications, Cellular and Other Wireless Telecommunications, Mobile Radio Services, Management, Finance, Wireless communications services, Comcast Corp., CMCSA, AT&T Wireless Services Inc., AT and T Corp., Armstrong, C. Michael, Comcast Cable Holdings L.L.C.

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