SBC To Acquire AT&T In $16 Billion Deal

By Allen Tsai | Mon Jan 31, 2005 2:38 am

SBC Communications, parent company of Cingular, has agreed to acquire long distance phone company AT&T Corp. for $16 billion. The deal would create the 2nd largest regional phone company.

Top News

NFL to Monitor Facebook, Twitter

Google Fights Android Malware with Bouncer

IPad More Satisfying Than Kindle, Study Says

Apple Hires Xbox Exec to Push Gaming

HTC Wi-Fi Security Flaw Highlight Android Concerns

More News >

"It's a done deal," said SBC spokesman Larry Solomon. "We just agreed to acquire AT&T."

"Today's agreement is a huge step forward in our efforts to build a company that will lead an American communications revolution in the 21st century," SBC CEO Edward Whitacre said in a statement.

"The combination of these two strong, complementary companies will ensure that together we will have all the capabilities necessary to compete successfully in serving a broad range of customers across the country and around the globe," David Dorman, the AT&T CEO said.

While still subject to regulatory approval, the documents were signed early Monday after SBC and AT&T boards approved the transaction. The takeover of AT&T is expected to be completed by the first half of 2006.

Posted In: AT&T (508) | Mergers & Acquisitions (251)

Related News

AT&T to Boost Spectrum, Diversify Phones

Thu Jan 26, 2012 4:07 pm | By
AT&T posted a hefty fourth-quarter loss in the wake of its scrapped T-Mobile merger, as it strategizes to boost spectrum and reduce its iPhone dependence in the year ahead.

AT&T Blames FCC for Data Price Increase, Spectrum Troubles

Thu Jan 26, 2012 3:14 pm | By
AT&T's says its failed merger with T-Mobile is the reason for changes to its data plan prices, blaming the Federal Communications Commission for meddling in its affairs.

Nokia May Offer Lumia 900 at $100 to Spur Sales

Nokia to Offer Lumia 900 at $100 to Spur Sales

Thu Jan 26, 2012 11:14 am | By
Nokia's Windows Phone-powered Lumia 900 will sell for $100 when it launches at AT&T later this year, according to reports, in a move that will raise the profiles of the maker and the OS.

AT&T Boosts T-Mobile with Spectrum Transfer

Tue Jan 24, 2012 11:21 am | By
AT&T will transfer $1 billion in spectrum to T-Mobile, bolstering its would-be partner after the failed merger attempt.

AT&T Tweaks Data Plans

Thu Jan 19, 2012 10:51 am | By
AT&T announced it is increasing the cost of its data plans, along with how much data its customers will receive, as the carrier adjusts to the changing needs of its users.