AT+T COMCAST

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					AT+T COMCAST
SHARE OF INDUSTRY

AT+T Comcast   21m basic $18.2b
Time Warner    10.9m       8.0b
Charter        6.6m        5.0b
Cox            6.3m        5.8b
Adelphia       5.7m        Bankrupt
Cablevision    3.0m.       2.6b
Major revenue streams

  Cable systems           $18.2b
  Retail (57% of QVC) $ 5.1b
  Sports (66% of Comcast Spectator which
   owns Philadelphia 76ers, NHL’s Flyers,
   AHL’s Phantoms) etc.
  Cable Channels          $847million
  Other (incl stake in Time Warner cable)
                           $5b.
Cost to buy AT+T broadband:         $54b
Total AT+T Comcast debt: $30b.
Total size, 21 million customers (out of 70 million
  cable households) in 17 of the top 20 cities, or
  1 in 5 US TV homes.
Could earn $24 billion in 2003.
Massive control over what goes into US TV
  homes, with ads of size to make new services
  pay.
Threats and Opportunities
  Size of debt (more than that AOL TW)
  Competition from satellite (26m. Homes by 2007)
  State cable market in terms of cable households.
  Involvement of AT+T chair as non-exec director
   (Michael Armstrong).
  Need to complete upgrade of AT+T systems
  Need to boost subs to digital cable, high-speed data
   (30% of subs by 2006), and video on demand.
Some problems

				
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posted:3/12/2008
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