BellSouth and SBC Communications Complete Combination of U.S. Wireless Businesses
SAN ANTONIO and ATLANTA, - October 2, 2000 - SBC Communications Inc. (NYSE: SBC) and BellSouth Corporation (NYSE: BLS) today announced that they have completed the combination of their U.S. wireless businesses and formed a new nationwide provider that will offer the most advanced products and services under a new brand name. All necessary approvals have been received, including the Federal Communication Commission.
In April, BellSouth and SBC announced plans to merge their domestic wireless operations to create the nation's second-largest wireless company, a powerful single entity jointly controlled by both companies, poised to compete nationwide in the exploding wireless voice and data businesses. The new company will serve more than 19 million customers and 190 million potential customers in 38 states, the District of Columbia and two U.S. territories. The name of the new joint venture, which will be headquartered in Atlanta, is expected to be announced soon.
BellSouth (NYSE: BLS) is a $26 billion communications services company. It provides telecommunications, wireless and wireless long distance communications, Internet and data services, advertising and publishing, and video and entertainment services to 40 million customers in 18 countries worldwide. For more information about BellSouth, visit http://www.bellsouth.com/
SBC Communications Inc. (http://www.sbc.com/) is a global communications leader. Through its subsidiaries' trusted brands - Southwestern Bell, Ameritech, Pacific Bell, SBC Telecom, Nevada Bell, SNET and Cellular One - and world-class network, SBC's subsidiaries provide local and long-distance phone service, wireless and data communications, paging, high-speed Internet access and messaging, cable and satellite television, security services and telecommunications equipment, as well as directory advertising and publishing. In the United States, the company currently has 94.1 million voice grade equivalent lines, 11.7 million wireless customers and is undertaking a national expansion program that will bring SBC service to an additional 30 markets. Internationally, SBC has telecommunications investments in 22 countries. With more than 208,000 employees, SBC is the 13th-largest employer in the U.S., with annual revenues that rank it among the largest Fortune 500 companies.
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