Word: comcasts
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...girl with 13.7 million cable customers doesn?t hit the market every day, and so, with the full encouragement of the AT&T board - which after rejecting Comcast?s $40 billion-plus-debt offer as an insulting lowball effectively put the division up for sale - the suitors are swarming...
...First there was AOL, the rich friend of Father?s (the two already share in the Time Warner Entertainment partnership) swooping in on the heels of the Comcast offer to discuss a glorious scenario in which AOL and AT&T form anything from a semi-monogamous dating arrangement to a full-blown marriage...
...might not get the chance. If AT&T's big investors think Comcast offers value, they may pressure the board to take the deal. With Comcast, shareholders would get not just cash but also two of the canniest managers in the business. It's hard to argue with industry-topping profit margins. And in an age when communications technology is changing at the speed of light, it may be the wrong time to bet against the family that knew just when to get out of belts and cuff links...
...Before we can take a position on their offer, we have to make sure that we truly understand it," Armstrong said Wednesday. "So AT&T's management and board will go through Comcast's proposal very carefully to determine whether it is the best way to achieve our goal of creating long-term shareowner value. That could take some time to do thoughtfully...
...fact that regulators aren't likely to stand in the way of a merger between No. 1 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...