Englewood, Colo. -- AT&T Broadband & Internet
Services and Midcontinent Media Inc. signed a definitive agreement on a 50-50 joint
venture involving 200,000 cable subscribers.
The venture will combine Midcontinent's wholly owned
systems in North and South Dakota, Nebraska, Minnesota and Montana with AT&T Broadband
systems in the Dakotas and one system in Minnesota.
AT&T Broadband's contribution covers 65,000
subscribers. The companies' existing jointly owned holdings in Sioux Falls Cable TV
will also be rolled in.
Midcontinent will manage the new partnership under the name
The companies expect to close the deal in early 2000. No
financial terms were disclosed.
Midcontinent now has 132,000 subscribers in 166
Midcontinent will also manage AT&T Broadband systems
bought earlier this year from South Dakota Cable, with 16,500 subscribers.