raj2001
02-05-03, 08:07 AM
Bresnan is the buyer:
http://money.cnn.com/2003/02/04/news/companies/bresnan_comcast.reut/
WHITE PLAINS, N.Y. (Reuters) - Bresnan Broadband Holdings LLC said Tuesday that it will buy cable television systems from Comcast Corp. for $525 million in cash as it expands its footprint in some western states.
The move will give Bresnan access to 317,000 basic subscribers in Montana, Wyoming, Colorado and Utah, and will help Comcast shed assets outside major cities following the multibillion-dollar acquisition of AT&T Corp.'s cable television unit last year.
Comcast (CMCSA: down $1.22 to $24.83, Research, Estimates) is now the No. 1 U.S. cable TV operator with more than 21.4 million subscribers. The transaction is expected to close by March 31, the companies said in a joint release.
Privately held Bresnan said the new systems will operate locally as Bresnan Communications, and they will be upgraded to roll out advanced video and high-speed data services in the U.S. mountain states.
In December, Liberty Media Corp. (L: down $0.31 to $9.35, Research, Estimates) said it was selling some of its international cable units to an entity controlled by industry pioneer Bill Bresnan, who runs Bresnan Communications. Earlier in 2002, his company bought some 320,000 subscribers in three Western states from AT&T Broadband, a unit of AT&T (T: down $0.57 to $18.45, Research, Estimates), for $735 million.
http://money.cnn.com/2003/02/04/news/companies/bresnan_comcast.reut/
WHITE PLAINS, N.Y. (Reuters) - Bresnan Broadband Holdings LLC said Tuesday that it will buy cable television systems from Comcast Corp. for $525 million in cash as it expands its footprint in some western states.
The move will give Bresnan access to 317,000 basic subscribers in Montana, Wyoming, Colorado and Utah, and will help Comcast shed assets outside major cities following the multibillion-dollar acquisition of AT&T Corp.'s cable television unit last year.
Comcast (CMCSA: down $1.22 to $24.83, Research, Estimates) is now the No. 1 U.S. cable TV operator with more than 21.4 million subscribers. The transaction is expected to close by March 31, the companies said in a joint release.
Privately held Bresnan said the new systems will operate locally as Bresnan Communications, and they will be upgraded to roll out advanced video and high-speed data services in the U.S. mountain states.
In December, Liberty Media Corp. (L: down $0.31 to $9.35, Research, Estimates) said it was selling some of its international cable units to an entity controlled by industry pioneer Bill Bresnan, who runs Bresnan Communications. Earlier in 2002, his company bought some 320,000 subscribers in three Western states from AT&T Broadband, a unit of AT&T (T: down $0.57 to $18.45, Research, Estimates), for $735 million.