We like the cable business, ... We think that's a business that's going to be a consolidating business over the next couple of years and we'd like to be in a position to play in that consolidation. And I think this puts us right in the midst of it as we speak.
Although MGM is a valuable asset, we have decided to withdraw our bid. Unfortunately, Time Warner could not reach agreement with MGM at a price that would have represented a prudent use of our growing financial capacity.
We're committed to cooperating with the independent examiner as well as fulfilling all of our other obligations under the settlement.
It will become the most significant physical structure and place in the world five years from now.
In the fourth quarter, we'll continue to extend the competitive advantages of our cable company and our other businesses to fuel growth in 2006 and beyond.
We're now in a position to do the things that I didn't think we'd be able to do till the 2005 time frame.
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