DOJ Approves AT&T-TCI Merger - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

DOJ Approves AT&T-TCI Merger

The Justice Department today approved the proposed $48 billion merger between AT&T and Tele-Communications Inc. The government said it would approve the deal after the companies agreed TCI would divest its 23.5% stock interest in Sprint's PCS wireless business.

The merger will give AT&T another network to provide businesses and consumers with high-speed Internet access. "We feel this transaction represents the largest step to date toward meeting the central goal" of competition that was set in the sweeping telecom deregulation law in 1996, said Jim Cicconi, AT&T general counsel and executive VP for government affairs and federal policy.

AT&T and TCI agreed to place the Sprint wireless assets in a trust when they announced the merger earlier this year. The agreement to sell the Sprint stock "will ensure that the merger will not blunt the move toward a more competitive market in wireless services and that customers continue to reap the benefits of that competition," said Joel Klein, the Justice Department's assistant attorney general for antitrust.

The Bell companies that are trying to merge have argued that if regulators are going to allow AT&T and TCI to merge, they should also allow Bells to merge with each other. The Consumer Federation of America and some municipal governments have expressed concerns that the merger will hurt residential cable competition.

The FCC still has to approve the merger, which the companies hope will close by mid-1999.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2020 State of DevOps Report
2020 State of DevOps Report
Download this report today to learn more about the key tools and technologies being utilized, and how organizations deal with the cultural and process changes that DevOps brings. The report also examines the barriers organizations face, as well as the rewards from DevOps including faster application delivery, higher quality products, and quicker recovery from errors in production.
News
The State of Chatbots: Pandemic Edition
Jessica Davis, Senior Editor, Enterprise Apps,  9/10/2020
Commentary
Deloitte on Cloud, the Edge, and Enterprise Expectations
Joao-Pierre S. Ruth, Senior Writer,  9/14/2020
Slideshows
Data Science: How the Pandemic Has Affected 10 Popular Jobs
Cynthia Harvey, Freelance Journalist, InformationWeek,  9/9/2020
Register for InformationWeek Newsletters
Video
Current Issue
IT Automation Transforms Network Management
In this special report we will examine the layers of automation and orchestration in IT operations, and how they can provide high availability and greater scale for modern applications and business demands.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll