View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
December 11, 1997updated 03 Sep 2016 7:00pm

AT&T TO INVEST $1.25BN IN @HOME, SAYS REPORT

By CBR Staff Writer

Internet-over-cable company @Home Network Inc is rumored to be on the verge of winning AT&T Corp as a major investor, to the tune of $1.25bn, if a report in yesterday’s USA Today turns out to be accurate. @Home was said to be soliciting approval for the deal from its major backers, which are all cable companies, at the cable industry’s annual get together, the Western show in Anaheim, California. The negotiations were said to have been led by 45% shareholder Tele-Communications Inc (TCI) and is said to be in the final stages. @Home wouldn’t comment on the story. @Home currently has 188.5 million shares outstanding and they closed yesterday up $2.625 at $25.875, so @Home would probably issue new shares as part of the deal at least otherwise AT&T would be left with a huge chunk of the company. The paper reported that such as deal would bring @Home together with WorldGate Communications, a start-up company that is preparing a system to deliver internet content through regular cable set- top boxes. However that looks like a typo and the paper probably meant WorldNet, AT&T’s internet service. As @Home’s Matt Wolfrom pointed out from the show, WorldGate was itself going round the show touting for investors to add to Motorola Inc, Citicorp and Needham & Co.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU