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March 21, 2011, 5:30 AM EDT
By Tim Culpan
(See EXT3 for more reports on the takeover.)
March 21 (Bloomberg) -- The following details AT&T Inc.’s acquisitions since its breakup. AT&T’s plan to buy T-Mobile USA from Deutsche Telekom AG for $39 billion, creating the largest U.S. wireless carrier, caps more than $250 billion of purchases over two decades, according to data compiled by Bloomberg.
1876: Alexander Graham Bell invents the telephone, leading to the formation of the Bell Telephone Company, later becoming the American Telephone & Telegraph Company and then AT&T.
January 1982: AT&T and the U.S. Department of Justice sign a Modification of Final Judgment that ends an antitrust suit and splits the company up.
January 1984: AT&T Corp. is split into seven Regional Bell Operating Companies. These “Baby Bells” later merged or were renamed to form operators including Verizon and Qwest. AT&T held onto the long-distance business and spun off Bells Labs to become Lucent Technologies Inc.
September 1994: AT&T finishes its $11.5 billion acquisition of McCaw Cellular Communications Inc. after the Federal Communications Commission clears the way for the combination of the U.S.’s largest long-distance service provider and the largest cellular operator.
December 1994: SBC Communications Inc., a Baby Bell formerly known as Southwestern Bell Corp., buys Associated Communications Corp. for $680 million.
September 1996: AT&T completes its spinoff of Lucent Technologies Inc., its systems-and-equipment unit.
December 1996: AT&T completes its $3.4 billion spinoff of NCR Corp., its computer business, officially restructuring the company.
April 1997: SBC closes acquisition of a fellow Baby Bell, Pacific Telesis Group, for more than $16 billion.
October 1998: SBC acquires Southern New England Telecommunications Corp. for $6.74 billion, giving the then-No.2 local phone operator access to the northeastern U.S. market dominated by Bell Atlantic Corp.
February 1999: AT&T receives approval from shareholders and the Federal Communications Commission for its $57.5 billion purchase of Tele-Communications Inc., the No. 2 U.S. cable-television company.
May 1999: AT&T completes the U.S. portion of its $5 billion acquisition of International Business Machines Corp.’s global communications network, ahead of schedule.
July 1999: SBC acquires Comcast Corp.’s cellular business for $1.67 billion, putting the operator in nine of the top 10 U.S. markets.
October 1999: SBC buys No. 5 operator Ameritech Corp. for a final value of $84 billion, making it the largest U.S. local phone company. SBC was required to sell about half of Ameritech’s wireless units as a condition for regulatory approval. They were sold for $3.25 billion.
June 2000: SBC buys a 43 percent stake in Prodigy Communications Corp. as part of a venture to combine their Internet businesses. SBC later buys the remainder of Prodigy for $390 million.
October 2000: AT&T says it will divide into four separate companies in 2002 to reverse a stock slide that cut its market value more than $61.5 billion in 2000.
August 2001: Liberty Media Corp. is split off from AT&T, a move that gave Chairman John Malone more freedom to raise money and invest in cable-television systems.
December 2001: Comcast Corp. agrees to buy AT&T’s cable- television unit for $72 billion in stock and assumed debt, ending AT&T’s plan to deliver everything from phone calls to digital movies on demand through one cable line.
January 2005: SBC announces plan to buy AT&T after AT&T posted declining revenue for 20 straight quarters. SBC completes purchase of AT&T for $22 billion, including debt. The combined entity is later renamed AT&T Inc.
January 2007: AT&T Inc. closes its acquisition of Bell South Corp., including consolidation of their Cingular Wireless venture. The final value passes $102 billion, including debt.
April 2007: AT&T posts quarterly net income that almost doubles to $2.85 billion after its acquisitions reaped $900 million in savings. AT&T has 62.2 million wireless customers and 12.9 million high-speed Internet customers by the end of the first quarter of 2007.
April 2007: AT&T Chief Executive Ed Whitacre retires at 65 after 17 years leading Southwestern Bell, SBC and AT&T. He led the company from being a regional provider to the largest U.S. phone operator.
June 2007: AT&T announces plan to buy Dobson Communications Corp. for $2.8 billion in cash. The deal closed in November.
June 29, 2007: AT&T becomes the first mobile carrier globally to offer Apple Inc.’s iPhone, helping boost revenue at its wireless unit.
December 2010: AT&T agrees to buy radio spectrum from Qualcomm Inc. for $1.93 billion, allowing it to ease congestion and expand into fourth-generation high-speed wireless networks.
March 2011: AT&T announces plans to pay about $39 billion to buy T-Mobile USA.
--Editors: Michael Tighe, Young-Sam Cho
To contact the reporter on this story: Tim Culpan in Taipei at tculpan1@bloomberg.net.
To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net.
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(See EXT3 for more reports on the takeover.)
March 21 (Bloomberg) -- The following details AT&T Inc.’s acquisitions since its breakup. AT&T’s plan to buy T-Mobile USA from Deutsche Telekom AG for $39 billion, creating the largest U.S. wireless carrier, caps more than $250 billion of purchases over two decades, according to data compiled by Bloomberg.
1876: Alexander Graham Bell invents the telephone, leading to the formation of the Bell Telephone Company, later becoming the American Telephone & Telegraph Company and then AT&T.
January 1982: AT&T and the U.S. Department of Justice sign a Modification of Final Judgment that ends an antitrust suit and splits the company up.
January 1984: AT&T Corp. is split into seven Regional Bell Operating Companies. These “Baby Bells” later merged or were renamed to form operators including Verizon and Qwest. AT&T held onto the long-distance business and spun off Bells Labs to become Lucent Technologies Inc.
September 1994: AT&T finishes its $11.5 billion acquisition of McCaw Cellular Communications Inc. after the Federal Communications Commission clears the way for the combination of the U.S.’s largest long-distance service provider and the largest cellular operator.
December 1994: SBC Communications Inc., a Baby Bell formerly known as Southwestern Bell Corp., buys Associated Communications Corp. for $680 million.
September 1996: AT&T completes its spinoff of Lucent Technologies Inc., its systems-and-equipment unit.
December 1996: AT&T completes its $3.4 billion spinoff of NCR Corp., its computer business, officially restructuring the company.
April 1997: SBC closes acquisition of a fellow Baby Bell, Pacific Telesis Group, for more than $16 billion.
October 1998: SBC acquires Southern New England Telecommunications Corp. for $6.74 billion, giving the then-No.2 local phone operator access to the northeastern U.S. market dominated by Bell Atlantic Corp.
February 1999: AT&T receives approval from shareholders and the Federal Communications Commission for its $57.5 billion purchase of Tele-Communications Inc., the No. 2 U.S. cable-television company.
May 1999: AT&T completes the U.S. portion of its $5 billion acquisition of International Business Machines Corp.’s global communications network, ahead of schedule.
July 1999: SBC acquires Comcast Corp.’s cellular business for $1.67 billion, putting the operator in nine of the top 10 U.S. markets.
October 1999: SBC buys No. 5 operator Ameritech Corp. for a final value of $84 billion, making it the largest U.S. local phone company. SBC was required to sell about half of Ameritech’s wireless units as a condition for regulatory approval. They were sold for $3.25 billion.
June 2000: SBC buys a 43 percent stake in Prodigy Communications Corp. as part of a venture to combine their Internet businesses. SBC later buys the remainder of Prodigy for $390 million.
October 2000: AT&T says it will divide into four separate companies in 2002 to reverse a stock slide that cut its market value more than $61.5 billion in 2000.
August 2001: Liberty Media Corp. is split off from AT&T, a move that gave Chairman John Malone more freedom to raise money and invest in cable-television systems.
December 2001: Comcast Corp. agrees to buy AT&T’s cable- television unit for $72 billion in stock and assumed debt, ending AT&T’s plan to deliver everything from phone calls to digital movies on demand through one cable line.
January 2005: SBC announces plan to buy AT&T after AT&T posted declining revenue for 20 straight quarters. SBC completes purchase of AT&T for $22 billion, including debt. The combined entity is later renamed AT&T Inc.
January 2007: AT&T Inc. closes its acquisition of Bell South Corp., including consolidation of their Cingular Wireless venture. The final value passes $102 billion, including debt.
April 2007: AT&T posts quarterly net income that almost doubles to $2.85 billion after its acquisitions reaped $900 million in savings. AT&T has 62.2 million wireless customers and 12.9 million high-speed Internet customers by the end of the first quarter of 2007.
April 2007: AT&T Chief Executive Ed Whitacre retires at 65 after 17 years leading Southwestern Bell, SBC and AT&T. He led the company from being a regional provider to the largest U.S. phone operator.
June 2007: AT&T announces plan to buy Dobson Communications Corp. for $2.8 billion in cash. The deal closed in November.
June 29, 2007: AT&T becomes the first mobile carrier globally to offer Apple Inc.’s iPhone, helping boost revenue at its wireless unit.
December 2010: AT&T agrees to buy radio spectrum from Qualcomm Inc. for $1.93 billion, allowing it to ease congestion and expand into fourth-generation high-speed wireless networks.
March 2011: AT&T announces plans to pay about $39 billion to buy T-Mobile USA.
--Editors: Michael Tighe, Young-Sam Cho
To contact the reporter on this story: Tim Culpan in Taipei at tculpan1@bloomberg.net.
To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net.
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