Las Vegas Sun

November 28, 2009

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Deal with AT&T adds 2,000 Nev. customers

Friday, July 9, 1999 | 11:23 a.m.

Cox Communications Inc.'s $2.8 billion deal with AT&T will give the company 2,000 new customers in rural Nevada.

The deal, announced Wednesday, gives Cox AT&T's stake in Peak Cablevision, which has systems in Ely and Eureka. Peak, based in Englewood, Colo., has a total of 117,000 customers in Oklahoma, Arkansas, Utah and Nevada.

The two rural Nevada systems will take an as yet undetermined name when Cox takes them over. Cox's Las Vegas programming won't be fed to those markets.

Under terms of the deal, Cox swapped its AT&T stock valued at $2.8 billion for AT&T-owned cable operations in seven states. Cox also gets $750 million in other considerations, including cash.

When the deal is approved, Cox would have 5.5 million customers nationwide, making it the nation's fifth largest cable provider. The company acquired the Las Vegas cable system last year from Prime Cable.

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