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funchords
Hello
Premium,MVM
join:2001-03-11
Washington, DC
 ·Verizon Online DSL
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| reply to jester121
Re: Verizon DSL vs Verizon FIOS
said by jester121  :It wasn't a merger OR a spin-off, but rather a combination of the 2. In your own quote Rob, Thanks, yes, that's valid. | |
Sammer
join:2005-12-22
Canonsburg, PA | reply to jester121
Whatever, it was a very good deal for Comcast and mostly an attempt to cut losses by AT&T. | |
jester121
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| reply to funchords
It wasn't a merger OR a spin-off, but rather a combination of the 2. In your own quote Rob,
Under the terms of the previously announced transaction, AT&T has spun off
AT&T Broadband and combined it with Comcast. As a result, AT&T
shareholders are entitled to receive 0.3235 shares of the new Comcast
Corporation Class A common stock in respect of each share of AT&T common
stock they owned at the close of business on Friday, November 15, 2002, the
record date for the spin-off, and will continue to hold their shares of AT&T
common stock. | |
funchords
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Washington, DC
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| reply to Sammer
said by Sammer :IOW AT&T sold its cable interests (mostly from the purchase of TCI) to Comcast. No, while that would be "in other words," it's neither what I said nor how it went down. This was a merger. See below.
COMCAST COMPLETES AT&T BROADBAND TRANSACTION
Company to Focus on Basic Video,Deploying Broadband Cable and Internet, and Customer Service
Philadelphia - November 18, 2002 - Comcast Corporation (NASDAQ: CMCSA;
CMCSK) today announced that its transaction with AT&T Broadband is complete,
bringing together cable assets serving more than 21.4 million subscribers in 41
states.
The new Comcast Corporation, formerly named AT&T Comcast Corporation,
provides digital cable to 6.3 million customers, high-speed data to more than 3.3
million customers and cable phone service to more than 1.3 million customers.
Brian L. Roberts, Chief Executive Officer of Comcast, said, "This is an historic
moment for the entire Comcast family - including our employees, customers and
shareholders. This vibrant new company is a leader in serving consumers with
exciting new products and technologies, and is focused on providing the highest
standards in customer service.
"Comcast is a financially strong company uniquely positioned to generate
significant benefits for our customers and shareholders alike. Our focus now
turns to bringing all of our cable systems up to the Comcast standard, quickly
moving to deploy digital cable and data to meet the growing demand for these
products, and continuing to deliver consistently strong financial results. I'm
excited for the many opportunities that lie ahead of us," said Mr. Roberts.
C. Michael Armstrong, Chairman of Comcast, said, "Today marks the birth of a
leading national broadband communications media and entertainment company.
The people of Comcast and AT&T Broadband should be proud of what they have
created, and excited for the opportunities that the future is sure to bring. I'm
looking forward to working closely with Brian and the management team to help
realize the potential of this great new company."
Under the terms of the previously announced transaction, AT&T has spun off
AT&T Broadband and combined it with Comcast. As a result, AT&T
shareholders are entitled to receive 0.3235 shares of the new Comcast
Corporation Class A common stock in respect of each share of AT&T common
stock they owned at the close of business on Friday, November 15, 2002, the
record date for the spin-off, and will continue to hold their shares of AT&T
common stock. Comcast shareholders will receive for each share of old
Comcast common stock one share of the corresponding class of the new
Comcast common stock.
The new Comcast common stock will begin trading under the NASDAQ symbols
CMCSA and CMCSK on Tuesday, November 19th .
The Comcast Board of Directors consists of 12 directors. The five directors
appointed by Comcast from its board are: Decker Anstrom, Sheldon M. Bonovitz,
Julian A. Brodsky, Brian L. Roberts and Ralph J. Roberts. The five directors
appointed by AT&T from its board are: C. Michael Armstrong, J. Michael Cook,
George M.C. Fisher, Louis A. Simpson and Michael Sovern. The jointly
appointed board members are: Kenneth J. Bacon and Dr. Judith Rodin. --
Robb Topolski -= funchords.com =- Hillsboro, Oregon
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Sammer
join:2005-12-22
Canonsburg, PA | reply to funchords
IOW AT&T sold its cable interests (mostly from the purchase of TCI) to Comcast. | |
funchords
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| reply to jt4
In 2002, parts of AT&T Corp. and its subsidiaries and affiliates and (the former) Comcast Corporation and its subsidiaries and affiliates merged to become a new entity called AT&T Comcast Corporation.
The AT&T was later dropped from the name. | |
EPS
join:2008-02-13
Hingham, MA
| reply to jt4
Comcast bought all of AT&T Broadband, essentially, and briefly during the proceedings an entity named "AT&T Comcast" was created (which changed its name back to Comcast after it completed), much like how in this new Sprint-Clearwire merger a new entity called "New Clearwire" will exist that will then change its name to "Clearwire". | |
jt4
@comcast.net | reply to funchords
att comcast. never heard of att comcast. comcast has bought some of att market. comcast bought the bay area cable system from att and upgrade to fiber to the node. | |
funchords
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Washington, DC
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1 edit | It might be tempting for people to carryover the reputation of Clearwire to New Clearwire, which has different management and philosophies in addition to different technology.
Even here on DSLReports, there ought to be a delineation between Clearwire and New Clearwire -- just like it does with Verizon DSL and Verizon FIOS (although those are the same company) -- just as it did with AT&T Broadband and AT&T Comcast (which was the same technology but a brand new company was created).
The old Clearwire is a very restricted service, with caps and cutoffs and no promises of openness and -- as Karl described -- a consumer impression that it was ghetto broadband at best.. As a condition of FCC approval, the new Clearwire comes with built-in (and enforceable) promises of openness -- users are free to use whatever applications, protocols, and frequent any sites that they want. Giving the New Clearwire a clean slate will also help to illuminate that these promises were made and help ensure they are kept.
I don't believe the low subscription predictions will hold within its footprints (of which it will start with probably two by years end). The New Clearwire's version of WiMax beats the crap out of every other mobile broadband performance in the USA. Of course, how it's packaged into useful tiers will help decide it for consumers.
--
Robb Topolski -= funchords.com =- Hillsboro, Oregon
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