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Comcast wins AT&T cable
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December 20, 2001: 9:59 a.m. ET
Cable operator beats out competitors with $47B offer.
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NEW YORK (CNN/Money) - Comcast Corp. beat out Cox Communications and AOL Time Warner with a $47 billion bid for AT&T's cable-television business.
The combined operation will have about 22 million subscribers and $19 billion in revenue.
Comcast (CMCSK: down $2.35 to $35.72, Research, Estimates) raised its bid to win the broadband unit while software maker Microsoft Corp. (MSFT: down $2.01 to $67.48, Research, Estimates) provided financial assistance to Comcast and competing cable operator Cox Communications Inc. (COX: up $1.64 to $40.03, Research, Estimates) in an effort to block AOL. AOL Time Warner is the parent company of CNN/Money.
CNNfn's Before Hours program takes a closer look. 
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