These tracking shares reflected results and prospects of the group's business, and would be traded separately.
In 1996, US West acquired Continental Cablevision for $5.3 billion in stock and renamed it MediaOne (initially named Media1).
Amos B. Hostetter, Jr., a founder and former chairman and CEO of Continental resigned after US West moved the company's headquarters from Boston, Massachusetts.
[2] Most early-period modems for the service were created by the manufacturer LANcity (Bay Networks).
The buyout of MediaOne by AT&T happened close on the heels of AT&T's purchase of cable company TCI.
That buyout by TCI already made AT&T the largest cable company, and MediaOne only served to increase their margin of leadership.
The deal effectively made the Boston/New England region MediaOne's largest clustered market.