Article 43

 

Recent Telecom Mergers

2/14/05 - Verizon Communications Inc. agreed to buy MCI Inc. for $6.75 billion in cash and stock.
More HERE and HERE.

1/31/05 - SBC Communications Inc. agreed to acquire former parent AT&T Corp. in a $16 billion deal, mostly in stock, that would create one of the world’s largest telecom companies.
More HERE, HERE and HERE.

3/5/06 - AT&T Inc. (formed from merger above) buys BellSouth for $67 billion. This gives AT&T total control of Cingular, the nations largest cell phone provider, and BellSouth’s nine-state network. Together, the three companies employ more than 316,000 people.
More HERE.

1/10/05 - Alltel Corp., the sixth biggest U.S. cellular carrier, agreed to buy agreed to buy Western Wireless Corp., a Northwest regional carrier that owns the Cellular One brand, for about $4.4 billion in cash and stock.
More HERE and HERE.

12/15/04 - Sprint Corp. entered into a “merger of equals” with Nextel Communications Inc. in a $35 billion deal, mostly in stock, combining the nation’s third and fifth largest cell-phone carriers.
More HERE.

Completed 10/26/04 - Cingular Wireless LLC acquired AT&T Wireless Services Inc. for $41 billion in cash forming the nation’s largest cell-phone company.
More HERE and HERE.

Posted by Elvis on 02/18/05 •
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  1. 3/15/05

    The CEOs from the nation’s largest phone companies went to Washington last week to convince Congress that merging their businesses will be good for America. Fortunately for them, much of the leadership on Capitol Hill appears to have reached the same conclusion.

    Calling the planned acquisition of AT&T Corp. by SBC Communications Inc. and of MCI Inc. by Verizon Communications Inc. “a necessary tune-up to the telecom industry,” Rep. Fred Upton, R-Mich., said the mergers “are not only logical but integral.”

    FULL STORY

    Posted by Burned Out Baby Boomer  on  03/15/05
  2. SBC to take AT&T name after marriage
    10/27/05

    WASHINGTON (Reuters) SBC Communications (SBC) said Thursday it will change its name to AT&T after completing its $16 billion purchase of that company, restoring a 120-year-old brand to what will become the largest U.S. telecommunications company.

    The future of the AT&T name, which had lost some luster among consumers in recent years, had been a lingering question around SBC’s purchase. USA TODAY reported Oct. 6 that SBC planned to take the AT&T name.

    SBC said it would launch a new logo and marketing campaign, along with a new stock symbol, once the merger closed. That could come as soon as next month, depending on approval from federal and state regulators.

    The purchase will make SBC, formerly known as Southwestern Bell, the largest U.S. provider of traditional landline and wireless communications services to homes and businesses with about $90 billion in annual revenues.

    AT&T, whose history dates back 130 years to the invention of the telephone, has been slammed by increasing competition from SBC and other dominant local carriers in the long-distance market. AT&T’s market value and revenue peaked in 1999, and the company announced last year it would no longer compete for residential customers.

    The combination of AT&T and SBC reunites “Ma Bell,” as AT&T was known for years, with a “Baby Bell,” one of the local phone companies spun off from AT&T because of antitrust rulings in 1984.

    SBC has estimated the deal could generate savings and a slight increase in revenues with a net current value of $15 billion, or about $2 billion a year through 2008, with the amount rising to $3 billion by 2011.

    About 85% of the improvements come from cost reductions, which include nearly 13,000 job cuts.

    Industry analyst Jeff Kagan said SBC will need to update the AT&T name “to play in the new game of telephone, television, Internet and cellular, but that will be easy compared to trying to carve out a new name like SBC in market after market around the country.”

    SOURCE

    Posted by Burned Out Baby Boomer  on  10/28/05

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