Interesting People mailing list archives
final re TCI/BA
From: David Farber <farber () central cis upenn edu>
Date: Sat, 16 Oct 1993 07:35:16 -0400
Andrew is a successful venture player in San Fran Date: 15 Oct 1993 09:49:24 -0800 From: "Anker, Andrew" <anker () spcom com> Subject: RE: TCI/Bell Atlantic I definitely agree with you on the subject of McCaw, I differ on Malone. If you look at the structure of the transaction, they're just slamming the companies together, converting TCI stock into Bell Atlantic class B stock, no dividend, essentially just another cable stock. This was not a purchase by Bell Atlantic. This was Malone getting access to more capital and at the same time acquiring some telephone subscribers. I'm going out on a limb on this, but given the amount of capital the combined entity is going to need to spend to get TCI's plant anywhere near able to do all the whiz bang stuff everyone seems to think people want, I'm betting that in 5 years when the Bell Atlantic Class B (i.e., TCI) stock converts to Class A, Bell Atlantic's capital structure and dividend payout, etc. will look alot more like the cable companies do today than like the telephone companies. And John Malone will be Chairman and CEO. -aa ________________________
Current thread:
- final re TCI/BA David Farber (Oct 16)