AT&T systems eyed

ATLANTA -- Cox Communications, owner of the Las Vegas cable TV system, is looking at a deal to merge with or acquire part of AT&T Corp.'s big cable operation, media reports say.

Cox, currently the nation's fifth-largest cable company, may be too small to buy AT&T Broadband outright since the price would be in the $50 billion-plus range. More likely would be a stock swap that would give AT&T shareholders a majority stake in Atlanta-based Cox.

Just as likely is for Cox to make a side deal in which another cable operator comes away with most assets of AT&T Broadband while Cox plucks up a few choice cable systems, analysts say.

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