July 28, 1998 |
Bell Atlantic Corp. and GTE Corp. will announce today they have agreed to merge in a $55-billion stock deal that would create a telecommunications giant with about a third of all U.S. phone lines and customers in 40 states, including California, sources said. The deal could benefit consumers by expanding the availability of all-in-one phone bills and creating a stronger rival to take on the telecommunications titans in long distance.
July 28, 1998 |
The Bell Atlantic Corp. and GTE Corp. merger talks represent the latest attempt by the Baby Bells to make an end run around tough federal rules governing their entry into the long-distance telephone market. Sources say the companies are close to a merger agreement that would create a telecommunications company with control of one-third of the U.S. local phone market. Bell Atlantic is one of the regional companies spun off by AT&T in 1983, and it has operations in 13 states on the Atlantic Coast.
July 13, 1998 |
In an effort to improve telecommunications access for the deaf and hard of hearing, Bell Atlantic plans to simplify its numbering system for call centers that serve these consumers. The Baby Bell, which serves 13 states on the Eastern Seaboard, is the first local phone company to take advantage of a block of numbers set aside by the Federal Communications Commission in 1997 for use by the deaf and hard of hearing.
May 2, 1998 |
Bell Atlantic Corp. said Raymond W. Smith is stepping aside early as chief executive to let Ivan Seidenberg lead the telecommunications giant in the next phase of its growth. Seidenberg, Bell Atlantic's chief operating officer, will become CEO on June 1 rather than on Aug. 14, as originally planned. Seidenberg was CEO of Nynex Corp., which Bell Atlantic bought last August, creating the nation's second-largest phone company, behind AT&T Corp.
April 24, 1998 |
Two major telephone companies, Bell Atlantic Corp. and Worldcom Inc., reported first-quarter earnings in line with Wall Street's expectations, but their stocks reacted differently to the news. Bell Atlantic, the nation's biggest regional phone company, said net income rose 11%, to $1.04 billion, or $1.32 a diluted share, from a year earlier, as it installed more phone lines, increased traffic on its network and added more wireless customers. Revenue at the New York-based company gained 3% to $7.
March 3, 1998 |
Bell Atlantic Corp. and SBC Communications Inc. signed agreements with DirecTV and United States Satellite Broadcasting Co. to sell satellite-television services to their telephone customers. Financial terms were not disclosed. The regional Bell phone companies will offer service from DirecTV and USSB, two of the nation's largest satellite-TV providers. The move gives Los Angeles-based DirecTV and St. Paul, Minn.
October 9, 1997 |
Bell Atlantic Corp. is enlisting characters from a popular children's book to reassure customers who face complicated choices in the wild and woolly world of telecommunications. An ad campaign featuring characters from Maurice Sendak's "Where the Wild Things Are" is designed to guide consumers through the growing maze of telecommunications options. Sendak's beautifully illustrated book describes a boy named Max who journeys through a mysterious world and becomes king.
July 21, 1997 |
Bell Atlantic Corp. and Nynex Corp. said they have agreed to certain conditions for Philadelphia-based Bell Atlantic's $25-billion acquisition of New York-based Nynex, set by federal regulators to promote competition in their phone markets. The Federal Communications Commission requires that the companies make their networks available to competitors so they have access to billing and customer service information.
July 20, 1997 |
Bell Atlantic Corp. and Nynex Corp. said they've agreed to conditions set by U.S. regulators in a major step toward gaining federal approval of Bell Atlantic's acquisition of Nynex for $23.7 billion in stock. The Federal Communications Commission conditions fall under five categories, such as guaranteeing competitors access to networks and setting how they'll charge competitors for services.