Excerpts: “AT&T and TCI to Merge.”

• “This merger is a tremendous growth opportunity for TCI’s shareowners and employees,” said John C. Malone, chairman and CEO of TCI. “As TCI continues the large­scale deployment of advanced digital set­top devices, AT&T’s extraordinary brand and resources are ideal complements to TCI’s broadband cable distribution and operations.
• AT&T Consumer Services will offer consumers a wide variety of entertainment, information and communications products, which thoughtfully address personal tastes, needs, choice and convenience.”
• John D. Zeglis, currently president of AT&T, will be chairman and CEO of AT&T Consumer Services and will remain on the AT&T Board of Directors. Leo J. Hindery, Jr., currently president of TCI, will be the new unit’s president and chief operating officer. Malone has agreed to become a member of the AT&T Board of Directors.

Source: Tech Law Journal