News

Oxygens Angel May Be Allen

6/06/1999 8:00 PM Eastern

New York -- Geraldine Laybourne may have found the angel she needs to get her Oxygen
women's channel off the ground next February: acquisition-hungry Paul Allen.

Last Friday, Oxygen Media wasn't commenting on a Los Angeles Times report
that Allen was negotiating to invest $100 million in the company.

That investment would reportedly get Allen a 7 percent stake, and as part of the deal,
he would launch Oxygen on his Charter Communications systems. Charter now has more than 5
million subscribers.

The published report also said that like Allen, Cox Communications Inc. was looking to
take an equity stake in Oxygen in exchange for giving it carriage. Cox and Allen's
Vulcan Ventures Inc. couldn't be reached for comment at press time.

Having signed deals with Charter and Cox would help Oxygen to collect on an offer that
AT&T Broadband & Internet Services extended to it. AT&T Broadband promised
Oxygen 7 million subscribers over two years, contingent on other cable operators
committing to offer the network to 5 million subscribers.

Oxygen's rate card is reportedly 19 cents per month, per subscriber.

Want to read more stories like this?
Get our Free Newsletter Here!