claims the original AT&T Corp.’s history (dating to 1877) as its own, but retains SBC's pre-2005 corporate structure and stock price history. still existing as the long-distance landline subsidiary of the merged company. After this purchase, SBC adopted the better-known AT&T name and brand, with the original AT&T Corp. On November 18, 2005, SBC Communications, Inc.based in San Antonio, purchased AT&T Corp. Purchase of former parent and acquisitions (2005–2013) įurther information: History of AT&T § Rise of SBC, and History of AT&T § Post-consolidation wireless acquisitions Zeglis ended his service as president of AT&T in 2001 and resigned from his positions in AT&T Wireless in 2004. By 1998, the company was in the top 15 of the Fortune 500, and by 1999, when Zeglis assumed the positions of chairman and CEO of AT&T Wireless, AT&T was part of the Dow Jones Industrial Average (lasting through 2015).
Michael Armstrong was named CEO, and Armstrong appointed John Zeglis as President later in that same year. During this time, the company changed its name to SBC Communications Inc.
In the latter half of the 1990s, the company acquired several other telecommunications companies, including two Baby Bells ( Pacific Telesis Group and Ameritech Corporation), while selling its cable business.
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The company soon started a series of acquisitions, including the 1987 acquisition of Metromedia mobile business and the acquisition of several cable companies in the early 1990s. Southwestern Bell Corporation (SBC) was one of the companies created by the breakup of AT&T Corp. AT&T continued to operate long-distance services but faced increasing competition from overseas supplied competitors such as MCI and Sprint. These new companies were known as Regional Bell Operating Companies, or more informally, Baby Bells. regulators broke up the AT&T monopoly, requiring AT&T to divest its local subsidiaries, which it did by grouping them into seven individual companies. įurther information: Breakup of the Bell System, History of AT&T § Breakup, and History of AT&T § Post break-up restructuring The current AT&T reconstitutes much of the former Bell System, and includes four of the seven "Baby Bells" along with the original AT&T Corp., including the long-distance division. also acquired Time Warner in 2016, with the proposed merger confirming on J and the aim of making AT&T the largest and controlling shareholder of Time Warner and rebranding it as WarnerMedia in 2018. acquired BellSouth Corporation in 2006, the last independent Baby Bell company, making its formerly joint venture Cingular Wireless (which had acquired AT&T Wireless in 2004) wholly owned and rebranding it as AT&T Mobility. and using its history, a version of its iconic logo and stock-trading symbol which launched on December 30, 2005.
and took on its branding, with the merged entity naming itself AT&T Inc. In 2005, SBC purchased its former parent AT&T Corp. The latter changed its name to SBC Communications Inc. AT&T antitrust lawsuit resulted in the divestiture of AT&T's ("Ma Bell") local operating subsidiaries which were grouped into seven Regional Bell Operating Companies (RBOCs), commonly referred to as "Baby Bells", resulting in seven independent companies, including Southwestern Bell Corporation (SBC). In 1899, AT&T became the parent company after the American Bell Telephone Company sold its assets to its subsidiary. The American Bell Telephone Company formed the American Telephone and Telegraph Company (AT&T) subsidiary in 1885. The latter was a successor of the original Bell Telephone Company founded by Alexander Graham Bell in 1877. After expanding services to Arkansas, Kansas, Oklahoma and Texas, through a series of mergers, it became Southwestern Bell Telephone Company in 1920, which was then a subsidiary of American Telephone and Telegraph Company. The company began its history as the American District Telegraph Company, formed in St. ĭuring most of the 20th century, AT&T had a monopoly on phone service in the United States. As of 2020, AT&T was ranked 9th on the Fortune 500 rankings of the largest United States corporations, with revenues of $181 billion. It is the world's largest telecommunications company and the largest provider of mobile telephone services in the U.S. (originally the American Telephone and Telegraph Company) is an American multinational conglomerate holding company that is Delaware-registered but headquartered at Whitacre Tower in Downtown Dallas, Texas.
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