MediaOne Group
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MediaOne Group was a media/cable TV company that was formed in 1995 by U S WEST, Inc.. In order to segregate its regulated telephone service from its unregulated cable TV businesses, it separated their assets and businesses into two groups named U. S. West Communications Group and U. S. West Media Group' and issued to its sharholders separate shares for the Media Group. Although both were part of the same corporation, the shares of each group reflected and tracked the results and prospects of the group's business, and could be traded separately. The Media Group's ticker symbol was UMG.
The Media Group initially held MediaOne, a cable service, and U S WEST Dex, the directory publisher for U S WEST Communications Group.
In 1998, U S WEST split up into two separate companies. U S WEST,Inc. changed its name to MediaOne Group, Inc., put the business of the Communications Group into a new company named U. S. WEST, Inc. and spun off its shares to the Communications Group shareholders. The U S WEST Dex publishing division was transferred to the Communications Group prior to the split. Chuck Lillis became CEO of MediaOne Group.
In 1999, Comcast sought to acquire MediaOne for $60 billion. AT&T raised the ante on the deal to $62 billion. AT&T completed its acquisition in 2000.
Following Comcast's acquisition of AT&T Broadband in 2002, MediaOne Group's assets are now with Comcast.
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