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AT&T; Seeks OK to Sell Stakes in 8 Cable Outlets

From Bloomberg News

AT&T; Corp., the largest U.S. cable television company, is seeking regulatory permission to sell stakes in E Entertainment, the Food Network and six other cable channels it acquired when it bought MediaOne Group Inc. last year.

AT&T; proposed the sales in a January filing with the Federal Communications Commission. In July, the New York-based company asked the FCC for permission to sell stakes in Outdoor Life and Speedvision, also obtained through MediaOne.

The other networks AT&T; plans to sell are Digital Cable Radio, Fox Sports New England, In Demand, National Cable Communications, New England Cable News and the Sunshine Network. AT&T; didn’t give a reason for the move and didn’t disclose its ownership stakes in the networks or stakes held by others.

The Food Network has shows featuring cooking and such chefs as Emeril Lagasse and Wolfgang Puck. E Entertainment, with such shows as “Talk Soup” and “Celebrity Profile,” follows the lifestyles of celebrities.

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AT&T; shares rose $1.29 to close at $25.10 on the New York Stock Exchange.


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