In an effort to hold on to AT&T’s struggling cable business, company chairman C. Michael Armstrong is planning to meet with top Disney officials Thursday to discuss the possibility of a strategic alliance, according to the Los Angeles Times, which cited people close to the situation. The newspaper observed that it was unlikely that Disney would attempt to top the $40-billion that Comcast Corp. offered for AT&T Broadband, as the cable operation is officially known, but that it might be interested in making a considerable investment in the company or merge its cable networks with the AT&T distribution unit.
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