MERGERS
Group Says AT&T Purchase of MediaOne May Violate Agreement
With Time Warner (WSJ)
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INTERNET
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Amazon Stock Performance Put Focus on Web's Value (WSJ)
High Technology Should Be Elementary to Pupils (USA)
LIFESTYLES
When Geeks Get Snide (NYT)
Judge Denies Hacker Mitnick's Request to Work in Media, Lecture (WSJ)
PRIVACY
Justices Agree to Review Privacy of Cellular Phones (NYT)
INTERNATIONAL
China Telecom May Buy Networks On Mainland to Double Its Presence (WSJ)
INFO TECH
Technological Advisory Council to Hold Fifth Meeting (FCC)
MERGERS
GROUP SAYS AT&T PURCHASE OF MEDIAONE MAY VIOLATE AGREEMENT WITH TIME WARNER
Issue: Mergers
A consumer advocacy group, Consumers Union, sent a letter Monday to the Federal
Trade Commission asking the FTC to examine whether AT&T's acquisition
of MediaOne Group Inc. may violate an agreement that restricts AT&T from
having more than a 9% stake in Time Warner. In 1997, Tele-Communications
Inc. (TCI) agreed to cap its stake in Time Warner at 9% in order for the FTC
to approve a Time Warner/Turner Broadcasting System Inc. merger. AT&T bought
TCI and had to abide by the agreement. Consumers Union argues that the
AT&T-MediaOne merger violates that ownership cap because MediaOne has a 25%
stake in Time Warner Entertainment, a subsidiary of Time Warner. The letter
is the latest attempt by consumer advocates to raise alarm about the recent
string of mergers they fear will limit choice in the telecommunications
marketplace.
[SOURCE: Wall Street Journal (B4), AUTHOR: Jill Carroll]
(http://interactive.wsj.com/articles/SB962062439564120330.htm)
See Also:
OWNERSHIP LINKS BETWEEN AT&T AND AOL-TIME WARNER
Issue: Mergers
From Pres Release: Consumers Union says that the ownership links between
Time Warner, Inc., and the recently-merged AT&T and MediaOne are a violation
of the conditions that the Federal Trade Commission set for a previous
merger