QuickLinks -- Click here to rapidly navigate through this document

EXHIBIT 10.2

FIRST AMENDMENT TO

TAX SHARING AGREEMENT

by and among

AT&T CORP.,

LIBERTY MEDIA CORPORATION,
for itself and each member of the Liberty Group,

TELE-COMMUNICATIONS, INC.,

LIBERTY VENTURES GROUP LLC,

LIBERTY MEDIA GROUP LLC,

TCI STARZ, INC.,

TCI CT HOLDINGS, INC,

and

each Covered Entity listed on the signature pages hereof,

dated as of May 28, 1999

--------------------------------------------------------------------------------

        This First Amendment, dated as of May 28, 1999 (this "First Amendment"),
to the Tax Sharing Agreement, dated as of March 9, 1999 (the "Agreement"), is
entered into by and among AT&T Corp., a New York corporation ("AT&T"), Liberty
Media Corporation, a Delaware corporation ("Liberty"), for itself and on behalf
of each member of the Liberty Group, Tele-Communications, Inc., a Delaware
corporation, Liberty Ventures Group LLC, a Delaware limited liability company,
Liberty Media Group LLC, a Delaware limited liability company, TCI Starz, Inc.,
a Colorado corporation, TCI CT Holdings, Inc., a Delaware corporation, each
Covered Entity listed on the signature pages hereof, and each entity which
becomes a party to the Agreement pursuant to Section 23 thereto. Unless
otherwise stated herein, capitalized terms used in this First Amendment shall
have the meaning ascribed to such terms in the Agreement.

        WHEREAS, the parties have entered into the Agreement which governs the
sharing, allocation and reimbursement of federal, state, local and foreign taxes
by the members of the Common Stock Group and the Liberty Group; and

        WHEREAS, AT&T intends to acquire The Associated Group, Inc., a Delaware
corporation ("AGI"), in a transaction qualifying as a tax-free reorganization
under Section 368(a) of the Code (the "AGI Acquisition") pursuant to an
Agreement and Plan of Merger dated as of May 28, 1999 (the "AGI Merger
Agreement") for and on behalf of the Liberty Group; and

        WHEREAS, certain members of the Liberty Media Group are negotiating a
form of letter (in the form approved in writing by AT&T, the "Telewest Letter")
to Microsoft Corporation ("Microsoft") relating to the interest currently held
by MediaOne Group, Inc. in Telewest that calls for the negotiation, execution
and delivery of certain agreements, instruments and other documents that give
effect to the arrangements described therein (collectively, and including the
obligations to which Microsoft would succeed pursuant to the second paragraph of
the Telewest Letter, but in each case only to the extent approved in writing by
AT&T, the "Microsoft/Telewest Arrangements"); and

        WHEREAS, the parties intend that any Tax Items arising from or relating
to the AGI Acquisition, including any Tax Items of AGI or any of its direct or
indirect assets or subsidiaries, shall be considered Tax Items attributable to
the Liberty Group except to the extent set forth herein; and

        WHEREAS, the parties intend that any Tax Items arising from or relating
to the Microsoft/Telewest Arrangements shall be considered Tax Items
attributable to the Common Stock Group except to the extent set forth herein;
and

        WHEREAS, the parties now wish to amend the Agreement in certain respects
to clarify the intent of the parties with respect to the sharing, allocation and
reimbursement of federal, state, local and foreign taxes by the members of the
Common Stock Group and the Liberty Group and to make such other amendments, as
provided herein;

        NOW, THEREFORE, the parties hereby agree as follows:

        1.     The Agreement is amended by inserting in Section 1(z) the words
", as amended" after the words "as of the date hereof" and before the period.

        2.     The Agreement is amended by deleting the first sentence of
Section 3(d)(i) and adding in lieu thereof the following:

"Any Tax Item arising from or relating to (A) TCI Wireless Holdings Inc. or any
of its direct or indirect assets or subsidiaries, (B) the disposition of certain
assets in exchange for stock of GI or the subsequent disposition of such stock,
(C) except as provided below in this Section 3(d)(i), the deemed, constructive
or actual disposition (except for the Exhibit D DITS) of the shares or other
interests in any Liberty Group Legal Entity, or measured by reference to the
difference between the value of such shares or interests and

2

--------------------------------------------------------------------------------

the holder's basis therein, or (D) AGI, A-Group Merger Corp. ("AGI Merger Sub"),
Cayman LLC (as defined in the AGI Merger Agreement), Delaware LLC (as defined in
the AGI Merger Agreement), Teligent, Inc., TruePosition, Inc., or any of their
respective direct or indirect subsidiaries or affiliates (or any predecessor or
successor of any of the foregoing under applicable corporate, limited liability
company, partnership or other organizational law) (the "AGI Entities"); the
status of any member of the Common Stock Group as the successor under Code
Section 381 (or comparable provision of state, local or foreign Tax law) to any
of the AGI Entities; any direct or indirect asset, liability, business,
investment or operation of any of the AGI Entities; any AT&T Common Stock or New
Liberty Media Group Tracking Stock held at any time directly or indirectly by
any of the AGI Entities; the amendments made as of the closing date of the
merger of AGI Merger Sub into AGI (the "AGI Merger") to the Contribution
Agreement and to the Limited Liability Company Agreement of Liberty Media
Group LLC and the transactions contemplated by such amendments (and only such
amendments); the AGI Acquisition, the AGI Merger Agreement, the AGI Merger, any
Pre-Merger Restructuring Transaction (as defined in the AGI Merger Agreement),
any Post-Merger Restructuring Transaction (as defined in the AGI Merger
Agreement), the issuance of AT&T Common Stock or New Liberty Media Group
Tracking Stock in the AGI Merger or any other transaction contemplated by the
AGI Merger Agreement, the First Supplement to Inter-Group Agreement dated
May 28, 1999 (the "First Supplement") (other than Section 1.5 and the preamble
paragraph relating to the Telewest Letter thereof), this Clause D of this First
Amendment, or the Voting Agreement dated May 28, 1999 by and among AT&T,
Liberty, and certain stockholders of AGI (the "Voting Agreement"), or any other
document to which the Company, Liberty or any of their respective Subsidiaries
(as defined in the AGI Merger Agreement) or Affiliates (as defined in the AGI
Merger Agreement) is a party that is referred to in the AGI Merger Agreement,
the First Supplement (other than Section 1.5 and the preamble paragraph relating
to the Telewest Letter thereof), this Clause D of this First Amendment and the
Voting Agreement or executed in connection therewith (any of the foregoing Tax
Items specified in this Clause D shall be referred to hereinafter as a "Clause D
Tax Item"), shall be for the account of the Liberty Group (except to the extent
otherwise provided in this Section 3(d)(i) with respect to any Clause D Tax
Item), and Liberty shall pay AT&T any Tax (or any reduction in any Tax refund,
credit or other benefit) attributable thereto. Notwithstanding anything in the
preceding sentence to the contrary, any Clause D Tax Item shall be for the
account of AT&T if, and to the extent that, such Clause D Tax Item arises
directly from and would not have arisen but for (i) any inaccuracy in any of the
representations by AT&T or AGI Merger Sub in the Officer's Certificate dated as
of the closing date of the AGI Merger delivered by AT&T and AGI Merger Sub in
connection with the opinions to be delivered pursuant to Section 8.2(j), 8.3(h)
and 8.4(h) of the AGI Merger Agreement, (ii) any breach by AT&T or AGI Merger
Sub of any of their representations or covenants in Sections 3.6, 3.7, 3.11,
3.12, 3.13, 3.14, 5.4, 5.5, 7.7, 7.13, and 7.15 of the AGI Merger Agreement or
(iii) any breach by AT&T of any representation or covenant in the Inter-Group
Agreement (except in the case of clauses (i), (ii) and (iii), to the extent
arising out of or relating to actions taken by AT&T at the request of Liberty as
contemplated by Section 1.2(e) of the First Supplement or otherwise in writing),
and AT&T shall pay to the applicable Governmental Authority or to Liberty any
Tax, and shall pay to Liberty any reduction in any Tax refund, credit or other
benefit that is for the account of Liberty hereunder, attributable thereto. Any
Tax Item arising from or relating to the execution and delivery of, or the
performance of the obligations of the Liberty Media Group (as defined in the
Parent Charter) under, the Telewest Letter, the Microsoft/Telewest Arrangements,
or any other transaction contemplated thereby or by Section 1.5 of the First
Supplement, this sentence of this First Amendment, or any other document
referred to in Section 1.5 of the First Supplement or this sentence of this
First Amendment (any of the foregoing Tax Items specified in this sentence shall
be referred to hereinafter as a "Telewest Tax Item"), shall be for the account
of the Common Stock Group (except to the extent otherwise provided in this
Section 3(d)(i) with respect to any Telewest Tax Item), and AT&T shall pay to
the applicable Governmental Authority or to Liberty any Tax, and shall pay to
Liberty any reduction in any Tax refund, credit or other benefit that is for the
account of Liberty hereunder, attributable thereto. Notwithstanding anything in
the preceding sentence to the contrary, any Telewest Tax Item shall be for the
account of Liberty if, and to the extent that, such Telewest Tax Item arises
directly from and would not have arisen but for (i) any breach by Liberty or any
member of the Liberty Media Group (as defined in the Inter-Group Agreement) of
any of its representations or covenants

3

--------------------------------------------------------------------------------

in the Telewest Letter or the Microsoft/Telewest Arrangements or (ii) any breach
by Liberty of any representation or covenant in the Inter-Group Agreement
(except in the case of clauses (i) and (ii), to the extent arising out of or
relating to actions taken by Liberty at the express written request of AT&T),
and Liberty shall pay AT&T any Tax (or any reduction in any Tax refund, credit
or other benefit that is for the account of AT&T hereunder) attributable
thereto."

        3.     The Agreement is amended by inserting in Section 3(d)(ii) the
words ", as amended," after the words "dated February 11, 1999" and before the
words "among AT&T, TCI and Liberty."

        4.     The Agreement is amended by deleting Section 9(b) and adding in
lieu thereof a new sentence as follows:

"From and after the Closing Date, Liberty shall have the right to control in all
respects all Tax Proceedings with respect to (I) any member of the TCI
Affiliated Group with respect to any Pre-Closing Taxable Period or (II) AGI for
any taxable period ending on or prior to the date of the closing of the AGI
Merger or any Subsidiary of AGI during any such period for such period;
provided, however, that (i) AT&T shall be entitled to participate in any such
Tax Proceeding at its expense, (ii) Liberty shall keep AT&T updated and informed
and shall consult with AT&T with respect to any contested Tax Item,
(iii) Liberty shall act in good faith with a view to the merits in connection
with the Tax Proceeding and (iv) any proposed settlement shall require the
consent of AT&T, which consent shall not be unreasonably withheld."

        5.     Except as otherwise expressly provided herein, the Agreement
shall continue in full force and effect without modification.

4

--------------------------------------------------------------------------------

        IN WITNESS WHEREOF, each of the parties has caused this First Amendment
to be executed by its respective duly authorized officer as of the date first
set forth above.

    AT&T CORP.
 
 
By:
 
 

--------------------------------------------------------------------------------

    Name:         Title:    
 
 
LIBERTY MEDIA CORPORATION, for itself and for
each member of the Liberty Group
 
 
By:
 
  

--------------------------------------------------------------------------------

    Name:         Title:    

5

--------------------------------------------------------------------------------

Each of the Covered Entities listed below on this page hereby executes this
First Amendment as a member of the Liberty Group to acknowledge that such Person
is bound by this First Amendment as a member of the Liberty Group:

    TCI WIRELESS HOLDINGS, INC.
 
 
By:
 
 

--------------------------------------------------------------------------------

    Name:         Title:    
 
 
TCIP, INC.
 
 
By:
 
  

--------------------------------------------------------------------------------

    Name:         Title:    
 
 
TCI INTERACTIVE, INC.
 
 
By:
 
  

--------------------------------------------------------------------------------

    Name:         Title:    
 
 
SILVER SPUR LAND AND CATTLE CO.
 
 
By:
 
 

--------------------------------------------------------------------------------

    Name:         Title:    

6

--------------------------------------------------------------------------------

    TELE-COMMUNICATIONS, INC.
 
 
By:
 
 

--------------------------------------------------------------------------------

    Name:         Title:    
 
 
LIBERTY VENTURES GROUP LLC
 
 
By:
 
  

--------------------------------------------------------------------------------

    Name:         Title:    
 
 
LIBERTY MEDIA GROUP LLC
 
 
By:
 
  

--------------------------------------------------------------------------------

    Name:         Title:    
 
 
TCI STARZ, INC.
 
 
By:
 
 

--------------------------------------------------------------------------------

    Name:         Title:    
 
 
TCI CT HOLDINGS, INC.
 
 
By:
 
  

--------------------------------------------------------------------------------

    Name:         Title:    

7

--------------------------------------------------------------------------------

QuickLinks

EXHIBIT 10.2