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Cisco, GI, AT&T set project
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January 7, 1999: 8:10 p.m. ET
Planned system would allow users to fax, surf, watch TV at the same time
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NEW YORK (CNNfn) - Cisco Systems Inc. and General Instrument Corp. said Thursday they are working with AT&T on a system to allow AT&T's customers to watch television, send faxes, surf the Web and talk on the telephone -- all at the same time.
Cisco Systems (CSCO) and General Instrument (GIC) said they intend to work with AT&T (T) on a non-exclusive basis to develop and test a seamless end-to-end Internet Protocol (IP) solution that would allow AT&T to offer data, voice and video services over the hybrid fiber-coax network now deployed by AT&T and Tele-Communications Inc. (TCOMA)
The companies haven't reached a definitive agreement.
"Cisco's collaboration with AT&T and GI will result in a New World network that will fundamentally change the way communications services are delivered to the consumer market," said John Chambers, president and chief executive officer of Cisco Systems.
"By combining broadband Internet, phone and video services over a single cable line, we are taking a major step towards implementing future integrated data, voice and video telecommunications on a mass market scale."
Chambers told the Moneyline News Hours with Lou Dobbs that most consumers can expect to have IP connectivity in their homes as a "very viable option" in the next two to three years.
"Almost all the large cable companies and all the large traditional voice players have realized there's only going to be one connection to the home, and that connection will be data, voice and video combined," he said.
Cisco Systems shares finished 3-7/8 higher at 103-5/8 in Thursday trade. AT&T shares slipped 5/8 to 82-1/4, while General Instrument shares finished unchanged at 36-15/16. 
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