AT&T, Chambers reach cable agreement

Deal expected to close early next year

AT&T said Wednesday that it has reached an agreement with closely held Chambers Communications Corp. to purchase cable television systems serving 80,000 people in four states.

The cash and stock deal is expected to close early next year following approvals from regulatory agencies.

The systems are in Chico and Novato, Calif.; Edmonds, Wash.; Ontario, Ore.; and Payette, Idaho.

AT&T will be the nation’s largest cable operator when it completes its purchase of MediaOne Group.

AT&T stock closed Wednesday down 19¢ at $47.31.

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