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.
June 2, 2005 |
SBC Communications Inc. is cutting the price for high-speed Internet access to $15 a month for new subscribers who sign up online, making another aggressive move to add and retain customers in advance of the big telephone company's push into cable TV service this year. The promotional rate for SBC Yahoo DSL Express, which requires a one-year contract and lasts for 12 months, is priced well below what many dial-up Internet services as well as rival broadband providers charge.
May 30, 2005 |
Verizon Communications Inc. and SBC Communications Inc. failed to win passage of legislation in Texas that would have made it easier for the companies to sell television services in the state. The failure highlights the difficulties the nation's two largest phone companies face in broadening their services to compete against cable system operators.
May 28, 2005 |
SBC Communications Inc., which is acquiring AT&T Corp. for $16 billion, appointed Chief Operating Officer Randall Stephenson to its board and increased the number of directors to 15. Stephenson, 45, will join Chief Executive Edward Whitacre as the only SBC executives on the board of the second-largest U.S. local telephone company. Whitacre, 63, has said he's unlikely to stay on after he turns 65 and that Stephenson is among the candidates to succeed him.
May 12, 2005 |
SBC Communications Inc., the nation's second-largest telephone company, said Wednesday that it would offer a product to help Internet phone companies connect customers to 911 dispatchers. The service will let providers of calling based on voice over Internet protocol, or VOIP, give customers the same 911 services available to subscribers of landline phone companies, San Antonio-based SBC said in a statement. SBC joins Verizon Communications Inc. and BellSouth Corp.
April 26, 2005 |
Regional telephone giant SBC Communications Inc. said Monday that its first-quarter net income fell 54% because of one-time costs for the Cingular Wireless acquisition of AT&T Wireless and large one-time gains in last year's first quarter. SBC, which owns 60% of Cingular, earned $885 million, or 27 cents a share, compared with $1.9 billion, or 58 cents, a year earlier. Quarterly revenue rose 2.5% to $10.25 billion.