February 22, 2002 |
AT&T Corp. appointed President David Dorman and Chief Financial Officer Charles Noski to its board as the biggest U.S. long-distance phone company prepares to separate its cable-television business. Noski, 49, also was named vice chairman and will remain CFO. The appointments take effect immediately.
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.
July 26, 1997 |
One year after a pipe-bomb exploded in a crowded park during the 1996 Olympic Games in Atlanta, FBI agents seem no closer to solving the crime. Although they have pursued more than 13,000 leads resulting from public appeals for information, no arrests have been made. In fact, their only suspect so far proved to be a public relations disaster. That was Richard Jewell, a 34-year-old private security guard who was hounded by the media until he was officially cleared three months later.
March 28, 1997 |
Closing one of the worst flops in corporate-merger history, Quaker Oats Co. agreed Thursday to sell Snapple Beverage Corp. to Triarc Cos. for $300 million, only 27 months after Quaker spent $1.7 billion to buy the maker of trendy drinks. The Quaker-Snapple fiasco joins such ill-fated business marriages as AT&T Corp. and computer maker NCR and General Electric Co. and defunct brokerage house Kidder, Peabody & Co.
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.
April 8, 1995 |
AT&T Corp. said Friday that its McCaw Cellular Communications unit has decided to buy the 48% of LIN Broadcasting Corp. it does not already own for $127.50 a share, or $3.3 billion in cash. The decision is a major step in ending a dispute over the cellular telephone company's value. The price was determined by a process set in 1989 when McCaw bought 52% of LIN. McCaw was later acquired by AT&T for $11.5 billion in a deal completed last September.