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Comcast woos rivals
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August 14, 2001: 7:49 a.m. ET
Comcast said to be negotiating on the side with rival suitors for AT&T unit
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NEW YORK (CNNfn) - Comcast Corp. reportedly has held exploratory talks with AOL Time Warner and other potential rival suitors in a maneuver to stave off competing bids for AT&T 's cable television business, according to a published report Tuesday.
The New York Times, citing people close to the matter, said Comcast (CMCSK: Research, Estimates) and AOL Time Warner (AOL: Research, Estimates) have discussed a possible deal that could allow AOL to acquire AT&T's 25 percent stake in Time Warner Entertainment if Comcast wins control of AT&T Broadband, the nation's largest cable company.
AOL Time Warner has been in protracted negotiations to buy the 25 percent stake directly from AT&T, the report said. AOL Time Warner is the parent company of CNNfn.
Industry watchers believe AOL Time Warner poses the most serious threat to Comcast's bid, but the nation's No. 2 cable holding company is likely to face antirust scrutiny if it seriously pursues AT&T Broadband, the Times said.
Comcast has offered to carry Disney channels over a Comcast-AT&T Broadband network if Walt Disney (DIS: Research, Estimates) stays out of the bidding, the paper said. Comcast executives also held talks with Microsoft (MSFT: Research, Estimates), the report noted, which made investments in Comcast in 1997.
Comcast and the other companies declined to comment on the report, the paper said.
In mid-July, AT&T Corp.'s board unanimously rejected Comcast's unsolicited $44.5 billion offer for AT&T's cable unit, opening the door to other potential bids. Since then, AT&T has entertained overtures from various firms.
Shares of Comcast shed 12 cents to $37.63 Monday. 
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