October 28, 2000 |
AT&T Corp. and Chairman C. Michael Armstrong are being sued by shareholders who say the biggest U.S. phone and cable television firm misled investors about its financial strength, lawyers said. The suit on behalf of investors who bought AT&T shares from October 1999 to May comes as the company is planning to split into four stocks in an effort to reverse the slide of its share price.
April 22, 2000 |
AT&T Corp. could be forced to shed its stake in Time Warner Entertainment or Liberty Media Group Inc. to win approval of its $59-billion purchase of MediaOne Group Inc., people familiar with the discussions said. AT&T, soon to be the largest U.S. cable-television company, has been trying for months to convince the Federal Communications Commission that it should be able to keep Liberty, its programming subsidiary, and its 25% stake in Time Warner Entertainment once the MediaOne purchase closes.
July 1, 1999 |
Global corporate marriages reached $1.5 trillion in the first half, the best six months on record, helped by the largest amount of hostile bids ever. More than half the transactions announced worldwide, or $829.1 billion, came in the second quarter, the second-best three months ever. About $169 billion worth, or 20% of those, came from unwelcome suitors. Several of the largest were unfriendly. AT&T Corp. won MediaOne Group Inc. with a $63.1-billion bid that topped Comcast Corp.
CALIFORNIA | LOCAL
November 14, 2000
MediaOne, which for years provided cable TV service in the east San Fernando Valley, Santa Clarita Valley and South-Central Los Angeles, has agreed to pay $3,250 in fines to the city Ethics Commission for excessive contributions to City Council members--and for late disclosure of lobbyist activity.
September 16, 1999 |
AT&T Corp. said it has frozen hiring and intends to eliminate jobs under a plan to cut $2 billion in costs by 2001. The largest U.S. long-distance phone company, which began the hiring freeze Aug. 19, hasn't determined how many jobs will be cut, spokeswoman Adele Ambrose said. It cut more than 20,000 jobs last year and reduced selling, general and administrative expenses by $1.6 billion. AT&T has 149,000 employees. Since joining AT&T in November 1997, Chief Executive C.
August 26, 1999 |
Time Warner Inc., the world's largest media company, said MediaOne Group Inc. gave up its management rights in their Time Warner Entertainment partnership because of its planned purchase by AT&T Corp. Time Warner said it received notice Aug. 3 that MediaOne was ending its agreement not to compete with Time Warner Entertainment, which controls most of Time Warner's cable systems as well as HBO and Warner Bros. studio. That notice triggered the cancellation of MediaOne's management rights.
April 14, 2000 |
AT&T Corp.'s Liberty Media Group said it may merge Jupiter Telecommunications Co., a Japanese cable-TV operator in which it owns a 40% stake, with rival Titus Communications, which is majority-owned by Microsoft Corp. Liberty, which is headed by cable veteran John Malone and owns stakes in dozens of media and technology companies, has talked to Microsoft about combining the two cable operators, Chief Executive Robert Bennett said. The new company could then sell shares to the public.
May 19, 1999 |
About 20,000 Los Angeles-area customers of MediaOne Express will see their high-speed Internet service transformed into MediaOne Road Runner on Thursday. Along with a new brand name, the service will feature additional content, a new Web browser and customized channels that take advantage of the high-bandwidth connections that are possible with cable modems. But some things won't change. The service will continue to be about 25 times faster than Internet connections via standard dial-up modems.
June 7, 1999 |
Launch Media and Road Runner are expected to announce a strategic partnership today that will put Launch's music content on the high-speed Internet service. The Santa Monica firm will provide streaming music videos, music tracks that may be downloaded, interviews, concert performances and exclusive editorial content to Road Runner's 250,000 subscribers. Financial terms of the deal were not disclosed.
April 13, 1999 |
Adelphia Communications Corp., moving to become the fourth-largest U.S. cable-TV company, said Monday that it agreed to buy the cable systems of closely held Harron Communications Corp. for $1.17 billion in cash. Adelphia, which operates mostly in the mid-Atlantic region and in Florida, will add about 300,000 customers in New England and Philadelphia with the acquisition, which would be its third in less than two months.