f the subscribers in the top 20 U.S. markets. "Diversification" is the latest buzzword in the cable industry, but Comcast has long focused on expanding its business lines. In the late 1980s, Comcast acquired the American Cellular Network and is now a major player in the cellular service market. Comcast also purchased a controlling stake in QVC, the cable shopping channel and provides some telephone services. It even owns a controlling interest in the NBA's Philadelphia 76ers and the NHL's Philadelphia Flyers. The company also has investments in content providers such as Comcast Spectacor, Comcast SportsNet, Cable Sports Southeast, E! Entertainment Television, G4 and others. Cable ready During the 1990s, Comcast began to devote more attention to investing in and developing cable content. In 1995, the company formed its C3 division (Comcast Content and Communication) to create new cable programming and plan ventures related to software and cyberspace. Together with Disney, Comcast owns a majority stake in the E! Television network. Comcast is also betting that cable will be the wave of the future for the Internet and that its diverse product line will enable it to sell product bundles, multiple telephone lines and Internet service packages to customers. The return of the bartering system In March 1999, Comcast jumped on the cable consolidation bandwagon and announced a plan to merge with rival MediaOne Group Inc., in an all-stock deal worth $48.6 billion. But two months later, MediaOne received a more lucrative offer from AT&T Corp. and terminated its deal with Comcast, which entered into a trade of some of its cable systems with those of AT&T instead. Comcast gained control of Lenfest, Philadelphia's major cable system, and all Washington, D.C.-area based VAULT CAREER LIBRARY © 2005 Vault Inc. Vault Guide to the Top Telecom Employers Comcast Corporation cable systems except Fairfax County's. In November 1999, Comcast bought Lenfest outright for $5.2 billion in stock. Through the trades and acquisitions, Comcast ga