Cablevision to Sell Boston Franchise to AT

Cablevision Systems Corp., the New York City area’s largest cable-television provider, agreed to sell its Boston business to AT&T; Corp. for $1.16 billion and a suburban New York cable system. AT&T; would pay $878 million in stock and $284 million in cash to acquire 357,850 subscribers. Cablevision would get 125,500 customers from Englewood, Colo.-based MediaOne Group Inc., which is being acquired for $59.3 billion by AT&T.; AT&T; owns about 38% of Bethpage, N.Y.-based Cablevision. Cablevision shares rose $5.38 to close at $63.75, AT&T; rose $3.88 to close at $50.94, and MediaOne rose $3.06 to close at $78.44, all on the NYSE.