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...with an unlimited imagination and a corporation with an unlimited checkbook. In January 1998, just two months after Armstrong took the helm, the company paid $11 billion for Teleport, a company that operates fiber-optic networks in New York and other cities. Six months later, AT&T purchased Tele-Communications Inc., then the second largest cable company in the U.S., for $53.5 billion. Acquiring MediaOne, and adding its 5 million subscribers to TCI's 12 million households, would finally give AT&T the national footprint it needed for widespread realization of its new strategy...
...time. When an Elvis-impersonator bursts upon the founding fathers, we see the most realistic instance of time-space confuscation. "Elvis" escorts a dorky librarian to the future, where his mission is to prevent a militaristic presidential candidate from winning and fulfilling his alliance with a disco-dancing tele-evangelist by outlawing rock'n roll. They do so by transforming a stuttering barber-woman into the Cinderella candidate destined for victory. What follows is a synchronic allegory of post-revolutionary American history only thinly disguised as an innovative commentary on gender roles in the 90s. Each character represents an associative...
...tiny few compared with the 27 million Americans plodding along with home-PC modems running at 28,800 to 56,000 BPS. But cable companies are pouring billions into upgrading their networks to handle data traffic over the same wire that brings you ER and championship bass fishing. Tele-Communications Inc., Cox Communications, Comcast and more than a dozen other cable companies offer a high-speed online service called @Home that is available to about 10 million households. Time Warner Cable and MediaOne offer a similar service called Road Runner to 5 million more. Cost: about $40 a month...
What to do? One road led through cable guy John Malone, the deal-happy boss of Tele-Communications, Inc. What better way for AT&T to provide local calling--plus a full package of communications and entertainment services--than to scoop up TCI, the second-largest U.S. cable operator after Time Warner? Never mind that the final price of $31.5 billion in AT&T stock was a lofty $8.5 billion premium over TCI's market value. Or that Malone's cable-TV wires, which run through neighborhoods with 33 million homes (about a third of all U.S. households), were mostly...
...YORK: At a little over $50 a share, AT&T is paying top dollar to drive Tele-Communications Inc.'s cable wires into local phone markets. That's 40 percent over what TCI stock was before the rumors of the deal started flying. AT&T is even soaking up TCI's $11 billion in debt along with the $37 million it's paying for the cable business -- but it's worth it, says TIME Wall Street columnist Daniel Kadlec: "AT&T needed this. It gives them a way to get into the local phone market that they couldn't figure...