Cabler MediaOne Group Inc. said its fourth-quarter net income rose to $3.65 billion, compared with a loss of $338 million a year ago, while revenues rose to $693 million from $643 million for the period ended Dec. 31.
The Englewood, Colo.-based company also said proportionate operating cash flow increased 18% to $783 million. It attributed gains to the sale of international assets it is shedding as part of its planned $58 billion takeover by AT&T Corp.
MediaOne Group’s 25%-owned share of Time Warner Entertainment reported fourth-quarter revs of $943 million, up 14% on a pro-forma basis over fourth quarter 1998.
Once AT&T acquires MediaOne, it is expected to restructure the ownership structure of TWE.
During the period, MediaOne said it added 81,000 new video, telephone and high- speed data subscribers in the U.S. At the end of the year, MediaOne served 56,000 digital video subscribers.