Word: broadband
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Like any doting father, C. Michael Armstrong didn?t want to marry off AT&T Broadband just yet - and maybe not ever. But as daddy?s little cable girl prepares to elope (with the full encouragement of the AT&T board) Armstrong only wants the best for her - or at least the best price...
...Losers BARRY WILLIAMS Brady boy catches heat for performing in scab production of The Sound of Music. Fans worry he may tarnish the sterling Brady Bunch name MICHAEL JOHNSON Network of the World chieftain still owes at least $6.2 million to newspaper heiress. His offer to pay in streaming broadband content is rejected ROBERT ILER Teenage "Soprano" arrested for mugging two Manhattan tourists. Somewhere, Corey Feldman is nodding; he understands...
...Armstrong had big dreams for the Broadband division, including the one where he ran it himself. But the reality that the CEO couldn't escape this week is that when Comcast - an exquisitely well-run cable operation with the highest profit margins in the business - made its unsolicited bid, AT&T stock immediately bounced up $1.98, or 12 percent, creating an immediate pop of $6.8 billion in shareholder value...
...Armstrong blames AT&T's own anemic margins on expensive upgrades that will pay off down the road when movies on demand are the thing and the broadband glut turns back into a scarcity. But a CEO's first obligation is to his shareholders, and the shareholders are restless...
...cable guy AT&T and No. 3 Comcast - FCC rules limiting the size of cable companies are falling fast in the Bush regime - may bring other suitors to Armstrong's door, helping him drive the price up. But the best thing about a Washington-blessed Comcast-AT&T Broadband marriage is the company it creates: the largest cable and Internet-access company in the world, managed by Comcast's proven money-makers and boasting not only tens of millions of subscribers but dominant positions in eight of the nation's ten biggest media markets...