AT&T reports clearing the way with Cablevision Systems Corp. for AT&T's sale of $1 billion worth of Cablevision and Rainbow Media stock.
The companies said they had agreed on what they called "an orderly disposition" of the Cablevision and Rainbow common stock held by AT&T. AT&T will prepare to sell the stock in March 2002.
AT&T also will have registration rights for its Rainbow Media Group tracking stock and Cablevision has agreed to file a registration statement by October 1, 2001 for the sale of the Rainbow Media Group tracking stock AT&T holds.
- Richard Tedesco