SAN FRANCISCO (06/05/2000) - The U.S. Federal Communications Commission (FCC) today granted a conditioned approval for the proposed merger between MediaOne Group Inc. and AT&T Corp., according to an FCC statement.
In a memorandum opinion and order adopted today, the FCC ordered AT&T within six months of completion of the merger to inform the FCC of what interests it will divest to come into compliance with the FCC's "horizontal ownership" rule.
This rule prohibits a single cable company from serving more than 30 percent of the nation's multichannel video programming distribution subscribers, who are served primarily by cable television and direct broadcast satellite services.
The FCC concluded that the merged firm without divestitures would have served 41.8 percent of the nation's multichannel video programming distribution subscribers.
AT&T is having a press conference this afternoon to discuss the ruling. Details to follow.
AT&T, in Basking Ridge, New Jersey, can be reached at +1-908-221-2000 or http://www.att.com/. The FCC, in Washington, D.C., can be reached at http://www.fcc.gov/.