| BUSINESSWEEK ONLINE : MAY 17, 1999 ISSUE | ||||||||
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| NEWS: ANALYSIS & COMMENTARY
The Hostetter Saga A journey from cable visionary to power broker 1963 Hostetter and pal Irv Grousbeck found Continental Cablevision, investing $2,000 each. They begin buying cable franchises. 1980 Grousbeck sells his share for $600 million. Hostetter continues expansion. 1994 Continental launches the first cable-modem Internet-access service in Cambridge, Mass. 1996 U S West buys Continental for $11.8 billion. Hostetter becomes the biggest outside shareholder and agrees to continue running it. 1997 Continental is renamed MediaOne; Hostetter resigns when CEO Chuck Lillis moves MediaOne headquarters from Boston to Denver. 1998 MediaOne is spun off from U S West. 1999 Comcast, led by Brian Roberts, agrees to buy MediaOne for $48 billion. With Hostetter's help, AT&T's Michael Armstrong launches a $58 billion counterbid. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
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AT&T: What Victory Means TABLE: The AT&T Deal for MediaOne PHOTO: C. Michael Armstrong The Man Behind AT&T's Coup TABLE: The Hostetter Saga ``AOL Has to Do Something Quickly'' TABLE: How AOL Plans to Fight Back INTERACT E-Mail to Business Week Online | |||
