October 1, 2005 |
Antitrust lawyers at the Justice Department are in favor of approving two landmark telecommunication mergers without requiring major changes, sources close to the review process said Friday. Lawyers at the department's antitrust division are inclined to approve SBC Communications Inc.'s purchase of AT&T Corp. and Verizon Communications Inc.'s acquisition of MCI Inc.
September 1, 2005 |
SBC Communications Inc. will probably change its name to AT&T Corp. once the combination of the two companies is complete, people familiar with the matter said. The AT&T brand is likely to be chosen because it is recognized globally, said the people, who declined to be identified. Executives at San Antonio-based SBC have been considering the change since the company in January agreed to buy AT&T for $16 billion. A decision to become AT&T would keep alive a name that is synonymous with U.S.
August 25, 2005 |
SBC Communications Inc. said it would offer Yahoo Inc.'s music service to bolster content provided to its nearly 6 million high-speed Internet subscribers. The service costs $4.99 a month for an annual subscription or $6.99 monthly for unlimited listening access to a catalog of more than 1 million songs, the companies said. Sunnyvale, Calif.-based Yahoo offers the service for the same prices.
August 16, 2005 |
Hewlett-Packard Co. sued a unit of SBC Communications Inc., seeking to invalidate five patents for data-handling systems. A lawsuit filed in federal court in Delaware on Aug. 12 contends that SBC Laboratories Inc. since 2001 has asked Hewlett-Packard to pay millions of dollars to license the patents. Palo Alto-based Hewlett-Packard said that it didn't infringe the patents, that they were not valid and that it expected SBC to sue.
July 26, 2005 |
California antitrust enforcers said SBC Communications Inc.'s proposed $16-billion purchase of AT&T Corp. was unlikely to harm competition for most products. In an advisory opinion filed Friday with state regulators, which are reviewing the transaction, Atty. Gen. Bill Lockyer recommended only one condition of approval: a one-year pricing freeze for some high-capacity phone and data lines purchased from AT&T by competing telecommunications companies.
July 22, 2005 |
SBC Communications Inc. reported lower second-quarter profit Thursday as California's dominant telephone company absorbed more costs from the acquisition of AT&T Wireless by its Cingular Wireless joint venture. SBC earned $1 billion in the period, or 30 cents a share, down from $1.17 billion, or 35 cents, a year ago.
July 21, 2005 |
AT&T Corp., which has agreed to be acquired by SBC Communications Inc. for $16 billion, said Wednesday that its second-quarter earnings nearly tripled because of cost cutting. AT&T, the largest U.S. provider of business telecommunications services, said it had earned $307 million, or 38 cents a share, compared with $108 million, or 14 cents, a year earlier. Excluding one-time charges from the SBC deal, a debt buyback and restructuring, AT&T said it had earned 62 cents a share.
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.
June 13, 2005 |
State regulators will open a series of hearings Tuesday to find out what Californians think about the nation's biggest telephone merger. In 14 hearings this month in seven cities, the California Public Utilities Commission expects to hear from people who support or oppose the proposed $16-billion acquisition of long-distance carrier AT&T Corp. by SBC Communications Inc., the state's dominant local phone company.