Comcast Completes AT&T Cable-TV Purchase

20 November 2002

Having received the regulatory green light last week [WAMN: 15-Nov-02], the mega-merger between America’s first and third largest cable-TV operators, AT&T Broadband and Comcast respectively, was completed this week.

Comcast purchased its larger rival for $29.2 billion (€28.8bn; £18.4bn) in stock plus $24bn of debt, creating a cable behemoth serving 22 million subscribers, more than twice the total of second-placed operator AOL Time Warner.

The combined firm is embarking on a two-year, $2bn scheme to upgrade its systems for digital and high-speed internet services.

Data sourced from: Washington Post Online; additional content by WARC staff