CALIFORNIA | LOCAL
December 19, 1998 |
The battle over the future of the Internet came home this week to Los Angeles, the city where it all began. It was "29 years ago almost to the day," noted Alan Arkatov, president of the city's Information Technology Agency, that the first letter, a single L, was typed at UCLA and received at Stanford over a computer network that grew to become the worldwide Internet.
December 5, 1998 |
The European Commission said on Friday it had opened an in-depth probe into the proposed joint venture between AT&T Corp. and British Telecommunications. At the same time, it cleared a separate $48-billion merger between AT&T and U.S. cable giant Tele-Communications Inc., saying their union would have little impact on competition in Europe.
November 19, 1998 |
In a move aimed at improving local cable service, Tele-Communications Inc. and Century Communications Corp. have finalized an agreement to pool their subscribers in Southern California to speed the roll-out of new services, including high-speed access to the Internet and telephone calling.
July 15, 1998 |
AT&T Corp.'s board is scheduled to meet today amid rising speculation that the company will revise the structure of its planned combination with cable TV giant Tele-Communications Inc. Many big institutional investors are clamoring for AT&T to go much further than planned in carving out the cash-hungry consumer cable and long-distance businesses after the merger to protect the earnings of the profitable AT&T business services unit. Some investors now believe that AT&T Chief Executive C.
July 15, 1998 |
AT&T Corp.'s board is scheduled to meet today amid strong investor pressure to revise the structure of the company's proposed combination with cable TV giant Tele-Communications Inc. Many big institutional investors are clamoring for AT&T to go much further than planned in carving out the cash-hungry consumer cable and long-distance businesses after the merger to protect the earnings of the profitable AT&T business services unit. Some investors now believe that AT&T Chief Executive C.
July 14, 1998 |
Tele-Communications Inc. Chairman John Malone conceded that the sharp drop in AT&T Corp.'s stock price could kill the telephone company's $44-billion acquisition of his cable television company. A published report Monday quoted Malone as saying he was worried that AT&T shareholders might reject the takeover because of the deal's complexity and a dilution in the value of their holdings. "It scares me to death to see their stock going down," Malone told Broadcasting & Cable, a trade publication.
July 8, 1998 |
AT&T Corp. Chairman C. Michael Armstrong on Tuesday said he will not renegotiate his proposed $44-billion purchase of cable giant Tele-Communications Inc., despite a big decline in AT&T's stock price and misgivings within TCI. Since AT&T agreed on June 24 to buy TCI, the long-distance giant's stock price has fallen 14% as Wall Street has turned thumbs down on the deal, originally valued at $48 billion.
July 6, 1998 |
Investors have given a cold shoulder to AT&T's proposed acquisition of cable giant Tele-Communications Inc., believing that upgrading TCI's aging cable systems for phone service and Internet access will prove complex and costly for AT&T. That may be true. But one aspect of the deal that has been overlooked by many analysts is that the kind of customers that AT&T would acquire--cable TV and Internet subscribers--tend to be a lot more loyal than long-distance customers.
July 3, 1998 |
To protect its existing, risk-averse shareholders from the uncertainties of the residential cable and local telephone businesses, AT&T is likely to retain little or no economic interest in a new Consumer Services subsidiary formed as part of its proposed $43-billion acquisition of Tele-Communications Inc., according to Leo Hindery, TCI president and designated president of the new group.
June 28, 1998 |
There was a great time for everyone--including AT&T Corp.--to be buying shares of cable TV titan Tele-Communications Inc. But it wasn't last week. That great opportunity occurred between October 1996 and April 1997, when TCI's stock languished between $11 and $15 a share, far below the $45-or-so per share that AT&T last week agreed to pay in a blockbuster $46-billion takeover bid.