среда, 29 февраля 2012 г.
Fed: Govt says Turkey should withdraw from Iraq=2
AAP General News (Australia)
02-24-2008
Fed: Govt says Turkey should withdraw from Iraq=2
United States Defence Secretary Robert Gates said it was important for everyone to
bear in mind the importance of Iraq's sovereignty.
However, Mr Gates, in Canberra for the Australia-US Ministerial talks held yesterday,
said Turkey had suffered from attacks by PKK insurgents who had killed Turkish soldiers
and civilians.
"The first thing that is important is regular dialogue and openness between the Turkish
government and the Iraqi government and, I would …
NSW:Main stories in Friday's 1300 2GB news
AAP General News (Australia)
04-29-2011
NSW:Main stories in Friday's 1300 2GB news
SYDNEY, April 29 AAP - Main stories in Friday's 1300 2GB news:
- The two men charged over an Australian Defence Force Academy sex scandal have been
granted conditional bail and will return to the ACT Magistrate's Court in three weeks.
- Senior police warn they have no time for protesters taking the law into their own
hands after three women were arrested for climbing onto the roof of Immigration Minister
Chris Bowen's office in Fairfield.
- A new group of protesters have begun chanting outside Minister Bowen's office demanding
freedom for asylum seekers.
- The solar bonus scheme is being put on hold by the O'Farrell government after its
cost blew out by $759 million, ahead of a summit next week to determine the scheme's future.
- There are calls for a new law in the name of murdered Sydney girl Kiesha Abrahams
to ensure convicted child killers are jailed for life.
- NRL South Sydney prop Ben Ross will face Cronulla for the first time since breaking
his neck when playing for the Sharks.
AAP ra/klm
KEYWORD: MONITOR 1300 2GB SYDNEY
� 2011 AAP Information Services Pty Limited (AAP) or its Licensors.
QLD:Two bodies yet to be recovered at Qld fire
AAP General News (Australia)
08-26-2011
QLD:Two bodies yet to be recovered at Qld fire
We're still waiting for a man whose wife and five children were killed in the Queensland
fire to address the media.
50-year-old JEREMIAH LALE was due to speak at 8am (AEST), but hasn't done so yet.
Meanwhile, hundreds of floral tributes, taken by mourners to last night's prayer service
for the victims of the Queensland fire, have been carried to the fire scene this morning.
The bouquets filled two cars, and have been placed in an area which has become a shrine
to the dead.
AAP RTV tnf/wf
KEYWORD: FIRE (BRISBANE)
� 2011 AAP Information Services Pty Limited (AAP) or its Licensors.
NSW:NSW gets an Online Court from today
AAP General News (Australia)
02-15-2011
NSW:NSW gets an Online Court from today
The NSW justice system will now start dealing with some preliminary criminal matters online.
The Local Court of NSW will start with the online service .. which should increase
the efficiency of the justice system from today.
Attorney General JOHN HATZISTERGOS has announced the Online Court will enable parties
to case manage administrative matters via the internet .. and be alerted by email when
there's a development.
Online Court will be trialled in the Downing Centre Local Court over the next 12 months
.. and rolled out to other courts if successful.
Mr HATZISTERGOS says the message board will be accessible 24-hours-a-day .. seven-days-a-week
.. which will encourage the prosecution and the defence to communicate outside of the
courtroom.
AAP RTV dmg/psm/
KEYWORD: COURT (SYDNEY)
� 2011 AAP Information Services Pty Limited (AAP) or its Licensors.
Miniclip.com Features Star Wars: Clone Wars Adventures
Wireless News
10-19-2010
Miniclip.com Features Star Wars: Clone Wars Adventures
Type: News
Miniclip.com, a website dedicated to online games, announced that Star Wars: Clone Wars Adventures is now featured on Miniclip.com.
According to a release, with more than two million registered players, Clone Wars Adventures is a free-to-play family-friendly online virtual world from Sony Online Entertainment LLC (SOE) and LucasArts, a division of Lucasfilm Ltd. Clone Wars Adventures is the second SOE game on Miniclip.com In 2009, Miniclip became SOE's partner for the launch of Free Realms, the family-friendly online video game that has more than 14 million registered players engaged in the whimsical virtual world.
"Clone Wars Adventures is an amazing game that will bring hours upon hours of entertainment to fans of the Clone Wars series," said John Smedley, President, Sony Online Entertainment. "Miniclip was an obvious choice for Clone Wars Adventures distribution as it has a proven track record of connecting players to quality games."
"Miniclip is proud to be chosen by SOE to feature its newest hit game Clone Wars Adventures," said Rob Small, CEO, Miniclip. "An ideal partnership, Miniclip is the Internet's single largest online game website that offers a fun and safe environment for kids and families, and Clone Wars Adventures is an exceptional title that offers audiences around the world dynamic and engaging gameplay."
The company noted that Clone Wars Adventures is a browser-based virtual world where fans can live out the thrills and excitement of Star Wars: The Clone Wars animated TV series on Cartoon Network. Players will be able to battle alongside their favorite Star Wars characters like Anakin Skywalker, Obi-Wan Kenobi, Yoda, and Ahsoka Tano. Developed and published by SOE and licensed by LucasArts, in conjunction with Lucasfilm Ltd., Clone Wars Adventures is the virtual destination for fans of the series. Players can go online to experience fun minigames, daily activities, events, rewards, lively social environments and competitions. Clone Wars Adventures is a dynamic world and will be updated with new content following new episodes of the animated series.
Sony Online Entertainment (SOE) is a provider of massively multiplayer online games, with hundreds of thousands of subscribers around the globe.
More Information:
miniclip.com
((Comments on this story may be sent to newsdesk@closeupmedia.com))
Copyright 2010 Close-Up Media, Inc. All Rights Reserved.
n/a
Fed: Gillard agrees to talk to union over My School tests
AAP General News (Australia)
04-24-2010
Fed: Gillard agrees to talk to union over My School tests
EDS: THIS STORY IS NOT FOR PUBLICATION UNTIL AFTER 0001 (AEST) ON SATURDAY, APRIL 24
By Bonny Symons-Brown
CANBERRA, April 24 AAP - Federal Education Minister Julia Gillard has offered to meet
with a teachers' union in hopes of heading off a threatened boycott of national literacy
and numeracy tests.
The Australian Education Union's (AEU) executive last week voted to boycott the tests,
due to be handed out next month, which inform the federal government's My School website.
It compares schools' literacy and numeracy scores with the results of statistically
similar institutions, and to the national average.
Representing thousands of public school teachers around the country, the AEU believes
the website is being used to create league tables that unfairly stigmatise underperforming
schools.
It also wants My School to publish more meaningful, accurate information, but in a
letter to the union - obtained by AAP on Saturday - Ms Gillard refused to negotiate on
the website's contents.
"I will however make myself available to speak with the full executive of the AEU to
discuss why a ban on (the) tests would be destructive," she wrote earlier this week.
"I would welcome the opportunity to discuss the significant benefits of having (national
literacy and numeracy) information on the My School website."
Ms Gillard said details of school income, resources and parental satisfaction would
all be added to the website eventually.
However, tracking academic performances over time would be possible only if the literacy
and numeracy tests were given to students in May.
The government is already putting plans in place so the tests may go ahead even if
the AEU refuses to back down.
AAP bsb/sb/jl/apm
KEYWORD: SCHOOLS (EMBARGOED)
� 2010 AAP Information Services Pty Limited (AAP) or its Licensors.
Qld: Bravehearts cry out for more funds
AAP General News (Australia)
12-10-2009
Qld: Bravehearts cry out for more funds
BRISBANE, Dec 10 AAP - The founder of one of Australia's best known child protection
organisations says she may be forced to quit her job because of a lack of government funding.
Hetty Johnston, executive director of Bravehearts, announced on Thursday that she and
seven others would have to leave the organisation she founded 13 years ago, because the
Queensland government was refusing to provide extra funds.
Ms Johnston achieved national prominence for her role in unseating former Governor-General
Peter Hollingworth over his failure to act on complaints of abuse when Anglican Archbishop
of Brisbane.
Bravehearts has offices across Australia, including three in Queensland.
Ms Johnston said negotiations with the Queensland government over the past 12 months
had failed to raise the extra $366,000 needed.
"The offer on the table is $725,000 which is no different to, apart from normal indexing
and CPI, what we have been on for the past three years," she told AAP.
"They want us to run psychologists and social workers, which are expensive, from two
offices, and administer that and an education team for $725,000 - it's just not going
to happen.
"We want the premier to override this and provide us with the extra funds. If the state
government can't, we hope the federal government will."
Ms Johnston said if the extra funds could not be found she would have to step down
by Tuesday next week.
Bravehearts provides counselling and support for children under 18 who have been sexually abused.
Ms Johnston said one in five children in Australia was a victim of sexual assault.
AAP peb/pjo/jl
KEYWORD: BRAVEHEARTS
2009 AAP Information Services Pty Limited (AAP) or its Licensors.
Qld: Chamber of Commerce labels ban a knee-jerk reaction
AAP General News (Australia)
08-02-2009
Qld: Chamber of Commerce labels ban a knee-jerk reaction
BRISBANE, Aug 2 AAP - Premier Anna Bligh's ban on ALP members of parliament from attending
fundraising functions with businesses is a knee-jerk reaction, Queensland's peak commerce
body says.
Ms Bligh announced on Sunday all Labor members of parliament were now banned from attending
fundraising functions with businesses.
She said this followed a wake-up call by crime fighter Tony Fitzgerald who delivered
a scathing review of her government at a conference in Brisbane last week, saying the
government could be bought, Labor mates were appointed to high-paying positions and retired
politicians were exploiting their political connections for "success fees" as lobbyists.
It also follows a Galaxy poll published in The Sunday Mail which revealed 65 per cent
of people believed corruption and cronyism were widespread in the Bligh government.
Chamber of Commerce and Industry Queensland president Beatrice Booth said she feared
the ban would severely effect businesses and members of parliament from networking.
"I think this may be a knee-jerk reaction that needs more thought and discussion with
businesses," Ms Booth said.
"How will they distinguish between what is fundraising functions and those that are not?
"This could lead to a dangerous outcome and limit the important process of businesses
networking with politicians."
The chamber of commerce represents about 25,000 businesses across Queensland.
AAP peb/jm/de
KEYWORD: FUNDRAISER BOOTH
2009 AAP Information Services Pty Limited (AAP) or its Licensors.
WA: Elies released from Perth hospital
AAP General News (Australia)
12-30-2008
WA: Elies released from Perth hospital
French yachtsman YANN ELIES has been discharged from Royal Perth Hospital after surgery
on injuries he suffered during a round-the-world yacht race.
The 34 year-old sailor suffered a broken leg when he fell to the deck of his yacht
Generali in rough seas off the cost of Western Australia.
He dragged himself to his bunk but could not move for days while the Australian Navy
Frigate HMAS Arunta sailed one thousand kilometres to rescue him.
ELIES underwent surgery a week ago and was discharged from Royal Perth this afternoon.
It's understood he's due to fly back to France tonight.
AAP RTV jp/crh
KEYWORD: SAIL GLOBE ELIES (PERTH)
2008 AAP Information Services Pty Limited (AAP) or its Licensors.
Wpo: Stingers chase bronze medal today
AAP General News (Australia)
08-21-2008
Wpo: Stingers chase bronze medal today
Australia's women's water polo players are attempting to finish their Olympic campaign
on a high in today's bronze medal playoff match against Hungary in Beijing.
Little is expected to separate the two sides that finished locked at 7-7 following
their heated group stage encounter last week.
The Stingers are chasing Australia's second Olympic medal in the sport's history after
winning the gold in Sydney and coming fourth in 2004.
The game starts at 1900 (AEST) at the Yingdong Natatorium before the US and the Netherlands
meet in the gold medal decider from 2020 (AEST).
AAP RTV tdw/jmt/wz/FDF/af
KEYWORD: OLY08 WPO AUST (BEIJING)
2008 AAP Information Services Pty Limited (AAP) or its Licensors.
NSW: Carparks becoming hotspots for Sydney thieves=2
AAP General News (Australia)
04-15-2008
NSW: Carparks becoming hotspots for Sydney thieves=2
Over the 24 months to December 2007, motor vehicle theft fell by 5.5 per cent, while
break and enter into commercial and government buildings fell by 10.4 per cent.
Robbery with a weapon other than a firearm also dropped by seven per cent.
BOSCAR director Don Weatherburn said there had also been an increase in the number
of arrests for heroin use or possession over the past 24 months, in particular in Sydney
in August and November last year.
An examination of the trend over five years, however, suggested it was a "bounce-back"
to normal levels, rather than the start of an upward trend, Dr Weatherburn said.
AAP nr/wjf/maur/nf
KEYWORD: CRIME NSW 2 SYDNEY
2008 AAP Information Services Pty Limited (AAP) or its Licensors.
Fed: McDiven likely to step down as party president: Minchin
AAP General News (Australia)
12-11-2007
Fed: McDiven likely to step down as party president: Minchin
Liberal Senator NICK MINCHIN says the federal president of the Liberal Party .. CHRIS
MCDIVEN .. is likely to step down from her position tomorrow.
Ms MCDIVEN is expected to announce her intention when the Liberal Party's federal executive
meet in Canberra.
Senator MINCHIN's told ABC Radio the federal council will need to elect a new president
at the next meeting of the party's governing body.
Senator MINCHIN's dismissed suggestions Ms MCDIVEN should have urged former prime minister
JOHN HOWARD to stand down before the election.
AAP RTV sld/af
KEYWORD: LIBERALS MINCHIN (CANBERRA)
2007 AAP Information Services Pty Limited (AAP) or its Licensors.
Fed: Oddities of the week
AAP General News (Australia)
04-27-2007
Fed: Oddities of the week
SYDNEY, April 27 AAP - Oddities of the week:
+ Two men who set up their own sovereign state in a Queensland suburb and made up
their own currency to pay bills have been ordered by a court to stop operating as a bank.
In evidence put to the Federal Court in Brisbane, the men made fake currency and cheques
valued at more than $500,000 and used it to pay bills including rent, mortgage repayments,
phone bills and legal fees. The currency was created under the authority of their own
Independent Sovereign State of Australia, of which one of the men is the self-styled attorney-general
and chief justice and the archbishop of the Church of Love and Peace. The pair also set
up their own parliament at Kalbar, west of Ipswich.
+ Anzac Day is a solemn day when diggers dress up and display their medals proudly.
But people in Byron Bay dressed down for the occasion and displayed something very different.
More than 200 nudists and their families met at Tyagarah Beach, just north of Byron Bay,
to pay their respects to the diggers who fought for their freedom. After marking the moment
with a minute's silence, a naked Australian beach cricket team got down to the serious
business of defending its title against New Zealand.
+ The first blind pilot to fly half-way around the world touched down in Darwin, calling
it a "fair dinkum place". Miles Hilton-Barber, a 57-year-old motivational speaker from
Derby in England, set off on his epic journey from London in a small microlight plane
on March 7. He is expected to complete the final leg of his journey to Sydney before the
end of the month, when he will soar into the record books as the first sight impaired
pilot to clock the 21,722km trip. So far, he has traversed 18 countries and weathered
a windchill factor of minus 25 degrees Celsius while above mountains in Lebanon.
AAP sg/cjh/cdh
KEYWORD: ODDITIES
2007 AAP Information Services Pty Limited (AAP) or its Licensors.
Fed:Drought natural process, not greenhouse:CSIRO researcher
AAP General News (Australia)
12-27-2006
Fed:Drought natural process, not greenhouse:CSIRO researcher
SYDNEY, Dec 28 AAP - The drought gripping Australia's south-east is due to natural
climatic change and not the greenhouse effect, a CSIRO researcher says.
Barrie Hunt says a CSIRO model of 10,000 years of natural climate variability put the
current drought in perspective, The Australian reports today.
The findings undermine a recent claim that the current drought was a one-in-1,000-year
event brought about by climate change.
SA Premier Mike Rann last month reported that a water summit in Canberra was told the
current dry was worse than a one-in-100-year drought, warning it offered a glimpse of
the future with climate change.
But, Mr Hunt said the drought was more likely a natural process.
"It is very, very highly likely that what we are seeing at the moment is natural climatic
variability," The Australian quoted Mr Hunt as saying.
"When people talk about it as a 1,000-year drought, they haven't got the information.
They don't understand that according to natural variability we could get another one in
50 years or it might be another 800 years, and there's no way of predicting it."
The CSIRO's global climate model incorporates measurements of air pressure, temperature
and wind at different levels of the atmosphere, sea surface temperatures and rainfall,
the paper said.
AAP jnb
KEYWORD: CLIMATE
2006 AAP Information Services Pty Limited (AAP) or its Licensors.
Fed: Gov says terror war could last 50 years
AAP General News (Australia)
08-19-2006
Fed: Gov says terror war could last 50 years
By Peter Veness, Steve Larkin and Nick Lenaghan
CANBERRA, Aug 19 AAP - The government's two most senior members have urged Australians
to brace for a long-term war against terror - one that could last longer than the Cold
War.
In Melbourne, Treasurer Peter Costello said Australians must "steel ourselves" for
a war of more than 50 years.
"The cold war lasted over 50 years," Mr Costello said of the long ideological battle
between soviet Russia and the US. The exact length of the war is disputed by historians,
although many consider it lasted between 1945 and 1990.
"The war on terror could last a lot longer," he said.
In Adelaide, Prime Minister John Howard called on Australians to realise the long-term
nature of the war, which started with the September 11, 2001 destruction of the World
Trade Centre by militant Islamist group al-Qaeda.
"It's essential we recognise the long term nature of this and recognise that we are
dealing with an enemy like no enemy before," Mr Howard told the South Australian Liberal
Party's annual general meeting today.
"There is no simple answer, there will be no quick end to the war against terrorism."
Just last week, British police foiled a plot to blow up as many as 10 airliners in
mid-flight between the US and UK.
Terrorism analysts remain divided about how strong the links between the 24 people
arrested by Scotland Yard and al-Qaeda's leadership are.
But they are united in the opinion the group hold the same beliefs as al-Qaeda - a
hatred of the West.
Mr Howard said the fanaticism of the militant groups was not his only worry.
"Our opponents in the war against terrorism are not only fanatical but they are also
very tenacious and as some disappear or are annihilated ... others come forward to take
their place."
Mr Howard said it was essential "that we hold our nerve" in the war against terrorism.
"This is a war where you are dealing with a sinister opponent, with borders that are seamless.
"You are dealing with a guerilla campaign of unprecedented menace and of unprecedented threat.
"We need strong alliances, we need a continuing military commitment in those parts
of the world where striking at the heart of terrorism is so very important."
But Labor says the threat of a drawn-out global fight against Islamist militants is
the fault of the government.
And Australia is a bigger terror target because of its involvement with Iraq, said
opposition international security spokesman Kevin Rudd.
"The Howard government has mismanaged the war on terrorism by cutting and running from
Afghanistan at the end of 2002 and instead diverting all of Australia's national security
forces to Iraq," Mr Rudd told reporters in Melbourne.
"Iraq three-and-a-half years later is on the verge of civil war and has become itself
a new training ground for terrorists and ... one of the greatest national security policy
failures in Australia's history.
"On top of that, Iraq has made Australia a much bigger terrorist target than it would
otherwise have been."
Signalling just how difficult the war would be to end, Mr Costello said the destruction
of ideas was necessary.
"The defeat of them and their ideas will signal the end of the war on terrorism," he said.
Mr Costello refused to comment directly on the case of Jack Thomas, whose convictions
on terrorism charges were quashed on appeal yesterday.
He said Australia's laws on terrorism were strong enough.
"We live in a system where you've got to prove an offence in the courts and sometimes
the proof is difficult," he said.
"All a government can do is collect evidence, bring it before a court, and try and
secure a conviction and a penalty against people who would be a danger to our society
and our fellow Australians."
AAP pv/sd
KEYWORD: TERROR NIGHTLEAD
) 2006 AAP Information Services Pty Limited (AAP) or its Licensors.
Fed: Costello defends fuel excise at petrol price jumps
AAP General News (Australia)
04-12-2006
Fed: Costello defends fuel excise at petrol price jumps
CANBERRA, April 12 AAP - Treasurer Peter Costello has defended the federal government
excise on petrol as prices at the bowser hit $1.40 a litre.
"Australia has a very low excise but unfortunately we don't control the world oil price,"
Mr Costello said today.
He refused to speculate on how high petrol prices could go or whether skyrocketing
crude oil prices would impact on inflation.
"We're living through our third oil shock and the last two ended really badly for the
world and for Australia, so let's be vigilant to make sure the same thing doesn't happen
here," Mr Costello said.
His comments came as NRMA again accused oil companies of price gouging - this time
as motorists prepare to hit the road for the Easter long weekend.
As petrol hit $1.40 a litre in capital cities, NRMA motoring president Alan Evans said
the price rise at the pump was not linked to the ballooning cost of crude oil.
"What we can't see is a direct correlation between the price of crude and the price
at the pump," Mr Evans said today.
However, he cautioned motorists against taking out their anger on petrol station owners.
"We're saying don't take your anger out on petrol station attendants, it's not their
fault," Mr Evans said.
With price rises coming just days before families take Easter holidays, Mr Evans said
it was time for the Australian Competition and Consumer Commission to step in.
"It highlights the need for the ACCC to be given powers to increase their monitoring," he said.
AAP pv/so/br
KEYWORD: PETROL COSTELLO
2006 AAP Information Services Pty Limited (AAP) or its Licensors.
понедельник, 27 февраля 2012 г.
NSW: Budget won't be in surplus for three years: mid-year review
AAP General News (Australia)
12-14-2005
NSW: Budget won't be in surplus for three years: mid-year review
The New South Wales government's scrapping of the property vendor duty has wiped out
a 300 million dollar budget surplus .. and the state's budget will not be back in surplus
for at least three years.
A mid-year budget review .. to be released next week .. will show a balanced New South
Wales budget in the current 2005-2006 financial year.
But the review says that in 2006-07 .. the budget will show a deficit of more than
500 million dollars .. but return to balance in 2007-2008 and a surplus in 2008-09.
New South Wales Premier MORRIS IEMMA released some details of the review in an address
to the Committee for the Economic Development of Australia today.
AAP RTV acb/was/wz/jv
KEYWORD: BUDGETNSW (SYDNEY)
2005 AAP Information Services Pty Limited (AAP) or its Licensors.
Qld: Woman sexually assaulted on uni campus
AAP General News (Australia)
04-06-2005
Qld: Woman sexually assaulted on uni campus
BRISBANE, April 6 AAP - A woman was sexually assaulted at a Queensland university campus,
police said today.
The 19-year-old was on a bridge within the St Lucia campus of the University of Queensland
when she was attacked from behind about 7.10pm (AEST) yesterday.
A police spokeswoman said a man pushed the woman to the ground and indecently assaulted
her before she fought him off and ran for help.
AAP rm/lb
KEYWORD: BRIDGE
2005 AAP Information Services Pty Limited (AAP) or its Licensors.
NSW: Boaties to face random breath tests
AAP General News (Australia)
12-08-2004
NSW: Boaties to face random breath tests
SYDNEY, Dec 8 AAP - New laws allowing random breath tests for boaties were introduced
to NSW parliament today.
Current legislation only allows police to test if they have reasonable suspicion a
skipper is intoxicated.
Police Minister John Watkins said the new ruling could see any boatie on the water
forced to take a random breath test.
"Alcohol and boating don't mix, and skippering a boat if you're over the limit is as
dangerous as drink driving," Mr Watkins said in a statement.
"With this new law, we are providing a stronger deterrent."
Since 1991, it has been illegal for anyone with a blood alcohol level above 0.05 to
skipper a boat in NSW.
Alcohol has contributed to 53 deaths on the water since 1992, including 18 fishing-related
incidents.
Mr Watkins said he hoped the new laws would pass quickly through parliament and come
into force following brief consultation.
AAP tam/was/bwl
KEYWORD: BOATIES
2004 AAP Information Services Pty Limited (AAP) or its Licensors.
Comcast says it's `committed' to buying AT&T cable unit.(Knight Ridder Newspapers)
Comcast is trying to become the biggest cable company in the world.
But to accomplish that, Comcast Corp. will have to convince AT&T Corp. shareholders that they are offering a great deal for their cable system.
Comcast has offered AT&T $44.5 billion in Comcast stock and another $13.5 billion to assume its debt to buy its cable unit, which has 13.5 million subscribers nationwide.
Such a deal would give Comcast 22 million cable customers, making it nearly twice as big as the No. 2 cable operator AOL Time Warner. Comcast, which has 8.4 million subscribers, is the third-largest cable company in the nation, behind AT&T and AOL Time Warner.
AT&T on Monday said it had no plans to sell its cable operations, but Comcast President Brian Roberts said he was ``absolutely committed'' to reaching a deal.
Roberts Monday tried to rally support for the deal from AT&T shareholders, after months of talks with AT&T's board fell apart.
``It accelerates AT&T's own plan to separate the company,'' he said.
AT&T in October announced plans to split its communications empire into four separate companies. The first stage of breakup started Monday, when AT&T spun off the wireless unit. Other units would handle residential phone customers, business phone customers and the cable operations.
Under Comcast's bid for the cable unit, AT&T shareholders would receive Comcast shares valued at $12.60 each, based on Friday's closing price. AT&T shareholders would also keep ownership of the rest of AT&T's core business. Comcast also would take over $13.5 billion in AT&T debt.
Comcast also said it was prepared to buy AT&T's 25.5 percent stake in Time Warner and 30 percent in Cablevision. Comcast stock took a hit Monday as investors worried about the bid for AT&T, shares closing at $39.30, down $2.98. Meanwhile, AT&T investors welcomed news of Comcast's proposed takeover. AT&T stock closed at $18.70, up $1.98.
Here is the dilemma for AT&T shareholders and executives:
AT&T plans to break into four companies to boost the value of its shares, which have been falling since spring 2000 when it hovered near $60. Chief executive officer Michael Armstrong says the company is worth more than investors give it credit and will fetch more broken into four companies.
The Comcast bid would seem to confirm that strategy.
The total value of Comcast's bid for just the cable division is $58 billion, just $5 billion lower than the value of AT&T's four divisions' total stock value. If you multiply AT&T's 3.37 billion outstanding shares by the Monday closing price of $18.70, AT&T is valued at $63 billion.
But the bid is not being embraced by AT&T executives because they spent about $100 billion piecing together the cable empire through acquisitions that began nearly three years ago.
So from that perspective, Comcast is not offering a good deal.
``It's looks like a huge premium, but you have to see that AT&T paid a lot more for the assets than Comcast is, and since that time, AT&T has put even more into its assets,'' said media analyst Robin Diedrich of Edward Jones in St. Louis. ``Comcast would be buying better assets than AT&T bought initially.''
AT&T executives simply see the bid as the next attack in the long-running battle between Comcast and AT&T for cable subscribers.
In March 1999, the Roberts family, the majority owners of Comcast, announced an agreement to buy MediaOne Group Inc. AT&T trumped the offer with a higher cash-and-stock offer. Comcast got $1.5 billion in cash when it abandoned the bid and let AT&T buy MediaOne.
AT&T, the long-distance giant, grew to become the largest cable company by buying up cable systems nationwide as an avenue for providing local phone service.
Comcast agreed to drop its fight for MediaOne in exchange for an agreement to swap some cable properties in different parts of the country in an effort to create big regional clusters.
Though Roberts said he doesn't think regulators will try to block Comcast's attempt to become the dominant cable company in the country, some analysts say the move will be highly scrutinized.
Imran Khan, a senior analyst at Boston-based Yankee Group, said regulators will want to look at what this deal would do to the competitive landscape, because Comcast would operate nearly one-third of cable service nationwide. ``They wouldn't just let it come down to two companies serving the whole country,'' Khan said.
The Center for Digital Democracy, a nonprofit group in Washington, D.C., that advocates open Internet access, said it worries Comcast's plan to buy AT&T would hurt consumers and competitors because it would give Comcast too much power.
X X X
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