Comcast, MediaOne to merge

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Comcast Corp., Philadelphia, and MediaOne Group, Englewood, Colo., announced today they have entered into a $60 billion merger agreement. The companies said the deal would create the world's leading broadband communications provider, combining the third- and fourth-largest domestic cable companies. The combined Comcast/MediaOne would serve 11 million cable customers and together would have generated more than $8 billion in 1998 revenues.

Copyright March 1999, Crain Communications Inc.

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