AT&T, Charter close cable systems swaps


AT&T Broadband and Charter Communications and have closed previously announced cable system transactions, with AT&T getting $1.77 billion in cash and cable systems while Charter receives about 554,000 customers on systems in disparate locations.

AT&T Broadband received $1.77 billion - $1.75 billion in cash - and Charter cable systems serving 9,000 customers in Sebastian, Fla., valued at $24 million. Charter systems in the Miami Beach, Fla., area, originally included in the transaction, will remain with Charter.

Charter received cable systems from AT&T serving some 563,000 customers in the St. Louis area; areas of Auburn, Birmingham, Montgomery and Selma, Ala.; and the Reno area of Nevada and California. &