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.
February 19, 2005 |
The shape of the telephone industry has changed practically overnight. In the space of two weeks, long-distance carriers AT&T Corp. and MCI Inc. agreed to be acquired by local phone giants that once were rivals. In the eyes of Edward E. Whitacre Jr., chairman of SBC Communications Inc., buying AT&T was essential for his company, the industry and the future health of the U.S. economy.
February 2, 2005 |
SBC Communications Inc. said Tuesday that it expected to eliminate about 13,000 jobs after its $16-billion acquisition of AT&T Corp. closes, but the telephone company stressed that many of those positions could be cut through attrition rather than layoffs. The projection came during an occasionally heated meeting with investors a day after SBC announced plans to acquire AT&T, its former corporate parent, in a deal that would create one of the world's biggest telecommunications companies.
February 1, 2005 |
Which three letters will it be -- AT&T or SBC? Now that SBC Communications Inc. has a deal to buy AT&T Corp., the telecom world is wondering which initials will live on. The decision is up to SBC. And its chairman, Edward E. Whitacre Jr., wasn't saying much Monday when the companies announced SBC's proposed $16-billion acquisition of its onetime parent company. "We obviously need a few days to figure all this out," Whitacre said.
January 31, 2005 |
The board of AT&T Corp., the nation's oldest and best-known telephone company, agreed late Sunday to be acquired by SBC Communications Inc. for $16 billion, almost all of it in stock, according to people familiar with the situation. The historic reunion of the two, which were separated by the 1984 breakup of the AT&T monopoly known as Ma Bell, would create the nation's largest telephone company, surpassing another AT&T offspring, Verizon Communications Inc.
January 27, 2005 |
SBC Communications Inc. said Wednesday that fourth-quarter earnings fell 17%, pushed down by costs for acquiring AT&T Wireless and higher severance and pension expenses. California's dominant local telephone company earned $754 million, or 23 cents a share, down from $905 million, or 27 cents, in the same period last year. Revenue fell 3% to $10.3 billion. For the year, SBC's profit fell 30% to nearly $6 billion, or $1.79 a share, from $8.5 billion, or $2.56 a share.
January 26, 2005 |
SBC Communications Inc. is bringing back a traditional pension plan for 55,000 management employees -- a move that industry experts call virtually unprecedented. Traditional pensions, which promise to pay retirees fixed monthly benefits for life, have been on the wane for the last decade as hundreds of companies have moved to "hybrid" plans that work more like 401(k) programs.
January 13, 2005 |
Hewlett-Packard Co., the second-largest maker of personal computers, and SBC Communications Inc. said Wednesday that they planned to jointly sell technology and communications services to U.S. businesses starting this quarter. Hewlett-Packard and SBC, the nation's second-largest local-telephone company and the dominant carrier in California, said the aim was to help clients cut the cost of running data and voice networks and supporting the computer systems used to run businesses.