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FCC Approves AT&T's Buyout of BellSouth

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Herman Munster Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-29-06 04:21 PM
Original message
FCC Approves AT&T's Buyout of BellSouth
http://biz.yahoo.com/ap/061229/att_bellsouth.html?.v=12

WASHINGTON (AP) -- The Federal Communications Commission unanimously approved AT&T Inc.'s $86 billion buyout of BellSouth Corp. on Friday. The FCC's approval was the last major regulatory hurdle for the proposed deal, which is the largest telecommunications merger in U.S. history.

Lawyers for AT&T and the two Democratic commissioners who had opposed the merger hammered out a compromise, the details of which were released Thursday night.

Among the conditions offered by AT&T is a promise to observe "network neutrality" principles, an offer of $19.95 per month stand-alone digital subscriber line service, and a vow to divest some wireless spectrum.

AT&T offered the concessions after a little more than a week of marathon negotiations with lawyers who work for the two Democrats on the commission, Michael Copps and Jonathan Adelstein.

Adelstein said Friday he was pleased with the agreement.

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Nikki Stone1 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-29-06 04:23 PM
Response to Original message
1. AT&T is really SBC, a baby bell that got big
bought out AT&T and took on the name.

Not happy that the Baby Bells are remerging
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karynnj Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-29-06 04:54 PM
Response to Reply #1
3. Especially as this is not the decent venerable AT&T
But what used to be Southwest Bell headquartered in Texas.

I'm unhappy that AT&T was broken apart in teh first place. AT&T as a regulated monopoly had been a source for basic research that helped not just AT&T, not just telecommunications but the the world. That technology led to telephone service being one of the few components of the Consumer price index that consistently went down. AT&T was also an outstanding employer, providing great benefits and decent wages to its employee - who often stayed with the company for more than 30 years.

Even if they were all recombined - much of the good has been lost.

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Nutmegger Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-29-06 04:24 PM
Response to Original message
2. The return of Ma Bell? n/t
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karynnj Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-29-06 04:55 PM
Response to Reply #2
4. I wish it were - but she was killed
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