Tuesday, November 01, 2005
Report from Bush World: Media Monopoly....
The Federal Communications Commisson cleared a deal that will allow Verizon Communications to purchase M.C.I. Inc. and S.B.C. Communications to buy AT&T Corp. Verizon is the #1 U.S. local telephone company and will acquire the No. 2 long distance carrier M.C.I. for $8.6 billion. SBC will buy AT&T for $16 billion. Consumer groups and competitors say the combinations would destroy competition. It's not like annual revenues of roughly $90 billion apiece, stakes in the two largest U.S. wireless companies and ambitious plans to expand subscription television services will curtail competition.from the air america homepage
