Cox Communications Inc. chairman James Robbins sought to quell speculation
that the company is on the prowl for a takeover.
Analysts believe Cox's stock price has been depressed in part due to
expectations that the company will chase after some other MSO, with Adelphia
Communications Corp. the most frequently cited target.
Adelphia has aggressively sought to encourage that speculation, showing
institutional investors charts on how the two companies might look combined.
But during a conference call to discuss the company's fourth-quarter results,
Robbins denied that Cox is on the acquisition trail.
'That bid was driven by a very unique set of circumstances,' Robbins said of
the MSO's attempt to merge with AT&T Broadband.
AT&T Broadband is clustered in major urban and suburban markets, and it
is the only other MSO seriously looking to deploy cable-telephone services.
'There simply aren't any properties that represent the opportunities AT&T
did,' Robbins added. 'We feel no urgency.'