AT&T;, Time Warner to Offer Phone Service Over Cable TV
AT&T; Corp., the nation's largest
telecommunications company, and media giant Time Warner Inc.
have formed a joint venture to offer telephone service over Time
Warner's cable television wires in 33 states, the companies said
Monday.
The partnership, which has been widely expected since last
July, will be owned 77.5 percent by AT&T; and 22.5 percent by
Time Warner. The companies forecast that after three full years
of operation, the joint venture will have positive cash flow,
will be making a profit, and will have annual revenues of $4
billion.
