Comcast-AT&T could be on again

AT&T could be ready to get down to serious business with Comcast’s bid to buy its broadband cable unit. Published reports say that AT&T has presented a revised, less stringent agreement that Comcast could sign as early as today.

Comcast submitted its unsolicited bid in July, but a confidentiality agreement that AT&T requires of all bidders caused the talks to halt. Primarily, that agreement forbid bidders from discussing the acquisition with potential partners or instigating a hostile bid with AT&T’s shareholders.

Comcast initially bid $58 billion for AT&T’s cable unit in July, but the value has dropped to about $50 billion based on Comcast’s stock. Meanwhile, AT&T’s board spent last weekend mulling other undisclosed offers for the cable unit and revisiting the notion that it could spin the unit off. Analysts close to the matter have suggested negotiations might be concluded when AT&T releases its earnings in mid-October.

--Jim Barthold, senior editor