March 13, 1999
AT&T Corp. got clearance from the Justice Department to buy IBM Corp.'s global communications network for $5 billion, with no conditions attached. AT&T says it could receive $2.5 billion in additional revenue in the first full year of operating the network.
October 12, 2003 |
Global Crossing Ltd., the telecommunications firm that symbolized the industry's rise, excess and ultimate collapse, may soon emerge as a battered survivor -- a feat few thought possible when the company sought bankruptcy protection nearly two years ago. The company could wrap up its Chapter 11 reorganization as early as this week, with one man being hailed as the tough-minded executive who made it possible: Chief Executive John J. Legere.
September 21, 1995
1900 -- AT&T becomes the parent company of American Bell. Early 1900s -- Seeking a monopoly, AT&T refuses to allow rival phone companies to connect to its network until they sell out to AT&T. 1910 -- AT&T gains effective control of Western Union, its biggest telephone competitor. 1913 -- Under threat of an antitrust lawsuit, AT&T agrees to dispose of Western Union stock and not to buy other independent phone companies without government approval.
July 1, 2005 |
AT&T Corp. shareholders approved the company's $16-billion acquisition by SBC Communications Inc., which would create one of the world's largest phone companies. The merger has won regulatory approval in 26 states and still needs OKs from 10 additional states and the federal government. If it is approved, closing is expected late this year or early next year.