Bell Atlantic-GTE merger is set to receive approval of the FCC

Article Abstract:

The Federal Communications Commission is expected to approve the merger between Bell Atlantic Corp. and GTE. This merger, if approved, will create the largest local phone company in the U.S.

Acquisitions and mergers

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AT&T to sell cable systems to shed debt

Article Abstract:

AT&T is under pressure from securities ratings to pay down some $64 bil in debt. AT&T is selling parts of its Broadband and Internet Services to Mediacom Communications Corp. for $2.2 bil. It will also sell a Japan Telecom Co. investment to Vodafone Group PLC for $1.35 bil. Charter Communications Inc. is line to acquire some cable systems for just under $2 bil. AT&T claims it is on track to reduce its level of debt to $32 bil. The company is concentrating its cable marketing efforts in major metropolitan areas.

Cable Television Systems, Cable Networks, Cable and other pay TV services, Statistical Data Included, T, Cable television broadcasting industry, Cable television, AT and T Corp., AT&T Broadband and Internet Services Inc., Mediacom Communications Corp.

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FCC officials signal concerns with Baby Bell mergers; U.S. could try to halt Bell Atlantic, SBC deals in the 'public interest.'

Article Abstract:

The FCC could seek to reject two proposed Baby Bell mergers, according to agency and industry officials. SBC Communications' $56 billion bid for Ameritech, as well as the $52 billion merger between Bell Atlantic and GTE, could draw a challenge from the FCC for failing to serve the 'public interest.' The deals have concerned the FCC because they would narrow the number of large local telephone carriers to four, according to an FCC staff member leading its review. By contrast, local carriers formerly consisted of seven Baby Bells and GTE. FCC staffers rarely take an assertive position on pending mergers. Any denial probably would raise controversy, as the Justice Department continues to struggle in its efforts to prosecute the new deals. It will take months before the FCC will render a decision on the two mergers.

Facilities & equipment, Local Telephone Service, Government regulation, AT&T Inc., SBC, Regional Bell Operating Companies, Local telephone services, AIT, Ameritech Corp.

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