AT&T: From TCI to Breakup

Author:
Updated:
Original:


June 24, 1998:

AT&T agrees to buy Tele-Communications Inc. for $48 billion.


Feb. 1, 1999:

AT&T reaches tentative agreement with Time Warner Inc. to provide telephony service over Time Warner's cable network.


March 5, 1999:

AT&T closes TCI purchase, forms AT&T Broadband & Internet Services.


May 6, 1999:

AT&T, after a battle with Comcast Corp., agrees to buy MediaOne Group Inc. for $58 billion.


Aug. 10, 1999:

After trading in the $50 to $60 range, AT&T stock begins to fall into the mid-$40s.


Oct. 5, 1999:

AT&T Broadband president Leo Hindery resigns; AT&T Corp. CFO Dan Somers assumes the post.


Oct. 18, 1999:

Liberty Media Group Inc. chairman John Malone tells
Forbes

magazine he favors more tracking stocks for AT&T to help boost share price.


June 15, 2000:

AT&T closes MediaOne purchase. Wins conditional FCC approval if it agrees to either divest of 9.7 million cable subscribers, its 25 percent interest in Time Warner Entertainment L.P., or its Liberty Media Group holdings.


Aug. 28, 2000:

AT&T restructures its relationship with Excite@Home Corp., increasing voting control from 56 percent to 74 percent.


Sept. 1, 2000:

AT&T Broadband announces plan to give customers up to five months of free cable telephone service.


Oct. 12, 2000:

AT&T stock falls below $25 per share.


Oct. 25, 2000:

AT&T announces restructuring to split into four separate companies: Wireless, Consumer Long Distance, Broadband and Business Services.

Related