WASHINGTON, D.C. 20549


                                   FORM 8-K

                                CURRENT REPORT
                      PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

     Date of report (Date of earliest event reported): November 18, 2002

                                  AT&T CORP.

              (Exact Name of Registrant as Specified in Charter)

                                   New York

                (State or Other Jurisdiction of Incorporation)

               1-1105                              13-4924710

      (Commission File Number)         (IRS Employer Identification No.)

      900 Routes 202-206 North                       07921
       Bedminster, New Jersey

   (Address of Principal Executive                 (Zip Code)

      Registrant's telephone number, including area code: (908) 221-2000

                                Not Applicable

        (Former Name or Former Address, If Changed Since Last Report)



      On November 18, 2002, AT&T Corp. issued a press release, a copy of which
is attached as Exhibit 99.1 hereto and incorporated herein by reference.


      (c)   Exhibits.

      Exhibit 99.1 Press Release, dated November 18, 2002.



            Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date:  November 18, 2002                           AT&T CORP.

                                      By: /s/ Robert S. Feit
                                          Name:  Robert S. Feit
                                          Title:  Vice President--Law and


                                   Exhibit Index

99.1  Press Release, dated November 18, 2002.

Eileen M. Connolly
908-234-8510 (office)
908-410-1419 (cell)

Sue Fleming
908-234-4548 (office)



BEDMINSTER, N.J.- AT&T today spun off AT&T Broadband to AT&T shareowners of
record on November 15, 2002.

Immediately following the spin off, AT&T Broadband combined with Comcast
Corporation. The combination, which creates the world's pre-eminent broadband
services company, has an aggregate value of approximately $60 billion, including
stock and debt.

With more than 21.4 million subscribers, the new Comcast is one of the leading
broadband communications, media and entertainment companies in the world. It
will be the world's leading provider of broadband video, voice and data
services. The combined company will have 59,000 employees, a presence in 41
states, approximately 6.3 million digital video customers, 3.3 million
high-speed data customers and 1.3 million cable telephony customers.

C. Michael Armstrong, retiring chairman and chief executive officer of AT&T and
now chairman of Comcast Corporation said, "Once again AT&T Broadband is
positioned to accelerate the development and transformation of our industry.
AT&T Broadband and Comcast can accomplish more together than we could alone.
Comcast will create value for its customers, shareowners and employees by
bringing more services to more people more quickly."

Speaking of the AT&T Broadband employees, Armstrong said, "I am truly proud of
the extraordinary people who have brought AT&T Broadband so far. Their energy,
enthusiasm and commitment are outstanding. I am sure that through their
continued hard work, they will unlock the potential of this new generation of
broadband services."

The merger will be accomplished through an exchange of stock to AT&T
shareowners, who will receive .3235 of a share of Comcast Corporation Class A
common stock for each share of AT&T they owned at market close on November 15,
2002 - the record date.


Following the merger AT&T shareowners will own a 56 percent economic stake and
about a 66 percent voting interest in the new company. The Roberts family, which
owns Comcast Class B shares, will control one third of the new company's
outstanding voting interest.

Comcast has assumed more than $24 billion in debt from AT&T and its
subsidiaries, as well as $5 billion of AT&T subsidiary trust convertible
preferred securities held by Microsoft Corporation, which will be converted into
115 million shares of Comcast.

AT&T shareowners will continue to hold their shares in AT&T, one of the largest
communications services company in the world with more than 50 million consumer
and 4 million business customer relationships.

"AT&T is well positioned for the future with a top-notch leadership team, a
world-class network, a sound financial structure and a wealth of opportunity in
the marketplace," Armstrong said.

Speaking about AT&T employees, he said, "AT&T people consistently executed with
purpose and integrity during one of the most turbulent times in our industry.
I'm proud of what we accomplished together over the last five years, and prouder
still of having been a part of this fine company."

Also today, AT&T conducted its previously announced 1-for-5 reverse stock split,
which was approved by AT&T shareowners earlier this year. Following completion
of the reverse stock split, AT&T anticipates it will have approximately 770
million shares outstanding.

The AT&T Board of Directors recommended and the AT&T shareowners overwhelmingly
approved the reverse split to adjust the trading price of AT&T stock following
the company's restructuring, including the spin off of AT&T Wireless and AT&T

With the reverse split, holders of AT&T common stock will receive one share of
AT&T stock for every five shares they currently hold. At the time issued, each
new share will represent the same interest in AT&T as the five shares it

As a result of the reverse stock split, AT&T shareowners who own five or more
shares of AT&T and are in the dividend reinvestment plan will receive an account
statement for full and fractional shares of the new AT&T. AT&T shareowners who
own five or more shares of AT&T but are not in the AT&T dividend reinvestment
plan will receive account statements for full shares of AT&T, and cash for
fractional shares. Shareowners who own fewer than five AT&T shares will receive
cash payments for fractional shares.

AT&T's trading symbol on the New York Stock Exchange will remain "T;" however,
AT&T's CUSIP number will change as a result of the transaction.


AT&T, noting that it is premature to declare future quarterly dividends, said
that if it continues paying its regular dividend at the same rate, AT&T
shareowners would expect AT&T's quarterly dividend to change from 3.75 cents per
share to 18.75 cents per share, as a result of this reverse split.

Effective November 18, AT&T shareowners will no longer be able to trade their
current AT&T stock certificates, and will receive information by mail regarding
the action they need to take. Shareowners without certificates will
automatically have their account balances adjusted for the reverse stock split
and will receive a statement reflecting their new share balance by mail in
approximately one month.

                                    # # #

The foregoing are "forward-looking statements" which are based on management's
beliefs as well as on a number of assumptions concerning future events made by
and information currently available to management. Readers are cautioned not to
put undue reliance on such forward-looking statements, which are not a guarantee
of performance and are subject to a number of uncertainties and other factors,
many of which are outside AT&T's control, that could cause actual results to
differ materially from such statements. For a more detailed description of the
factors that could cause such a difference, please see AT&T's filings with the
Securities and Exchange Commission. AT&T disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. This information is presented solely to
provide additional information to further understand the results of AT&T.