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Industry: Email Alert RSS FeedBellSouth buys Atlanta wireless system; latest, but likely not last, in series of wireless buys for telco. (Wireless Cable of Atlanta)(Brief Article)
Broadcasting & Cable, November, 1996 by Katz, Michael
Latest, but likely not last, in series of wireless buys for telco In a move to combat US West's Atlanta-based cable provider, MediaOne, BellSouth has agreed to purchase Wireless Cable of Atlanta for $43.5 million in stock. Wireless Cable of Atlanta now serves only 9,000 households in the Atlanta area, but has line of sight to about 900,000 homes, which constitute approximately 80% of all households within a 35-mile radius of downtown Atlanta.
The purchase price, which translates to roughly $39 per line-of-sight home, is well above the standard $28 in the average wireless system purchase. "They did pay a premium above previous direct comparables," says Alex. Brown analyst James Boyle. However, "even at that level it's a relative bargain for...
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