Merger delay could save AT&T billions

Article Abstract:

AT&T is inclined to delay closing its $60 billion purchase of MediaOne to save billions in cash. AT&T chairman C. Michael Armstrong said he now expects the deal to close by Jul 2000, not in Mar 2000 as earlier anticipated. Sources say delaying the deal will give AT&T more time to increase the value of its stock, thereby reducing the cash component of the deal.

MediaOne

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AT&T plans to spin off Liberty

Article Abstract:

AT and T has decided to sell John Malone's Liberty Media Group as part of its agreement with the United States Federal Communications Commission to reduce its share in the cable television market. The decision allowed AT and T to retain its 17 million customers and its 25.5% share in Time Warner's cable systems. AT and T exceeded the federal limit of 30% after its acquisition of MediaOne in June 2000.

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Complicated hurdles await AT&T-MediaOne deal

Article Abstract:

The planned $53-billion AT and T Corp-MediaOne deal would be facing regulatory obstacles such as a Federal Communications Commission ruling that prohibits an operator from controlling systems serving over 30% of the entire potential subscribers. AT and T may secure approximately 58% of the cable universe, considering its substantial investments in Cablevision Systems and Time Warner.

Government regulation

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