$72 billion deal of phone giants clears big hurdle; tentative nod from U.S.; Ameritech-SBC would have to expand to new cities and welcome competitors

Article Abstract:

The Federal Communications Commission approved the $72 billion buyout of SBC Communications Inc. by Ameritech Corp. only when the companies agreed to 28 conditions that would encourage competition. The new company will be the country's largest local phone company with approximately 55 million phone lines in 13 states. The agreement, hammered out over 3 intensive months is a response to the criticism of the federal government's blithe approval of Bell Atlantic and Nynex, a deal that stifled competition. FCC Chairman William E. Kennard is heartened by the promise of open telecommunications markets and indicated he would likely approve the deal.

Asset sales & divestitures, Acquisitions & mergers, Telecommunications, Wired Telecommunications Carriers, Telephone Communications, Local Telephone Service, Telecommunications industry, United States. Federal Communications Commission, Telephone services, AT&T Inc., Local telephone services, Ameritech Corp.

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Viacom plans to create on-line music and children's sites

Article Abstract:

With plans to invest $250 million in promoting a new Web presence, Viacom will create online music and secure children's sites, all to be accomplished after an acquisition of an Internet radio service known as Imagine Radio. Viacom's cable competitor, TCI, is a major investor in Sonic Net, a service that allows home pages and bulletin boards for the music community.

Comment:

Company wants to provide online music for kids

On-Line Information Services, Videotex & Teletext, Telegraph & other communications, Services development, Services, Online services, Internet services, Abstract, Music, Viacom Inc., VIA, Internet radio, Internet audio broadcasting

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