Digest: AT&T builds U-verse
EmptyAT&T Inc. said Tuesday that it has signed up 13,000 subscribers for its U-verse video service as of the end of the first quarter and has since increased that user base to about 20,000. The telecommunications giant had 3,000 U-verse users at the start of the year. Reporting first-quarter results, AT&T also said its overall video customers, including U-verse and bundled satellite TV service, increased by 187,000, up from 111,000 video net adds in the fourth quarter, bringing its total video user base to 1.7 million as of the end of the first quarter.
B'caster ATV for sale
MUNICH -- A major stake in Austria's sole nationwide commercial broadcaster ATV has been put up for sale, the company said Tuesday. The stake, which at 43% is the second largest in ATV, is part of a wider sell-off of noncore assets by Austria's troubled Bawag-Bank, which was taken over in December by a group led by U.S. private-equity firm Cerberus Capital Management. The majority owner of ATV is Herbert Kloiber, head of Germany's TeleMuenchenGroup, with 53%. Bertelsmann AG's RTL and KKR/Permira's newly acquired ProSiebenSat.1 are rumored to be among the investors who have expressed interest in the Austrian broadcaster. According to the Financial Times Deutschland, Kloiber has the right of first refusal on the Bawag shares, but observers doubt he will boost his ATV stake.
Yahoo! a value pick
Shares of Yahoo! Inc. gained 0.5% on Tuesday after Jefferies & Co. analyst Youssef Squali supported the stock as a value pick. He reiterated his "buy" rating following a recent postearnings sell-off, arguing "Yahoo! continues to be a second-half 2007 stock" with revenue growth likely to accelerate as the year unfolds. Yahoo! shares closed at $28.02.