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BUSINESS
By New York Times News Service | September 20, 1994
WASHINGTON -- Hours after clearing the final regulatory hurdle, AT&T Corp. completed its $12.6 billion purchase of McCaw Cellular Communications yesterday and formally began an industrywide race to build a national wireless-communications network.As had been expected, the Federal Communications Commission approved the deal, which will unite the world's largest telecommunications company with the world's largest cellular-telephone operator. On balance, the agency said, those aspects of the deal that foster competition outweigh the anti-competitive aspects.
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NEWS
December 17, 2002
Eli Ginzberg, 91, an economist who taught at Columbia University for more than six decades, advised eight U.S. presidents and led pioneering research efforts in employment and health care, died Thursday at his home in New York City. Dr. Ginzberg served as director of staff studies at the National Manpower Council from 1952 until 1961. He wrote about the importance of integrating women and racial minorities into the work force, and in the early 1950s he played a role in the desegregation of the Army as an aide to Secretary of the Army Frank Pace Jr. Keith McCaw, 49, a billionaire whose family helped create a cellular-phone empire, was found dead Sunday in a hot tub in his lakeside Seattle mansion.
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BUSINESS
By New York Times News Service | April 6, 1995
Craig O. McCaw, the billionaire who has been looking for a new project ever since he sold his company to AT&T, has finally found one: Nextel Communications, a one-time high flier in wireless communications that has been flirting with death in recent months.Mr. McCaw announced yesterday that he and his family would invest $300 million immediately and as much as $1.1 billion in Nextel over the next six years. If he exercises all his options under his agreement with Nextel, he would own about 23 percent of the company and become its largest shareholder.
BUSINESS
By BLOOMBERG NEWS | January 11, 2000
McLEAN, Va. -- Nextlink Communications Inc., a telephone company controlled by cellular pioneer Craig McCaw, said yesterday that it has agreed to buy Concentric Network Corp. for $2.9 billion in stock in order to add Internet services for business customers. Nextlink will pay $45, or about 0.573 share, for each Concentric share, based on Friday's closing price. Concentric would give Nextlink Internet access and Web-site management services to offer small and mid-size businesses. Selling electronic-commerce services may give Nextlink an edge over its competitors, the regional local-phone service companies, which are barred from offering long distance.
BUSINESS
By New York Times News Service | September 21, 1994
NEW YORK -- Having just consummated an acquisition of the nation's biggest cellular telephone company, executives at AT&T Corp. offered a glimpse yesterday of what they mean by "anytime, anywhere" communications: a colossal marketing opportunity.One day after completing its purchase of McCaw Cellular Communications, AT&T executives reiterated their sweeping vision of how to link the world's biggest long-distance company with the world's largest wireless operator.To whet appetites, AT&T and McCaw executives described an initial sampling of new services: message systems that beep people when calls come in, no matter where they are; two-way paging systems; and "personal phone numbers."
NEWS
By New York Times News Service | August 17, 1993
In a move that could profoundly alter telecommunications in the United States, American Telephone & Telegraph Co. announced yesterday that it would acquire the nation's biggest cellular telephone company for $12.6 billion.The takeover of McCaw Cellular Communications of Kirkland, Wash., would give AT&T control of a vast wireless telephone network, rapidly blurring the traditional line between local and long-distance service.The deal, which is subject to federal approval, would be the fifth-largest takeover in the nation's history.
NEWS
December 17, 2002
Eli Ginzberg, 91, an economist who taught at Columbia University for more than six decades, advised eight U.S. presidents and led pioneering research efforts in employment and health care, died Thursday at his home in New York City. Dr. Ginzberg served as director of staff studies at the National Manpower Council from 1952 until 1961. He wrote about the importance of integrating women and racial minorities into the work force, and in the early 1950s he played a role in the desegregation of the Army as an aide to Secretary of the Army Frank Pace Jr. Keith McCaw, 49, a billionaire whose family helped create a cellular-phone empire, was found dead Sunday in a hot tub in his lakeside Seattle mansion.
NEWS
August 18, 1993
Ten years is a lifetime in the constant technological churning of the electronics world. That might also prove to be the life span of the legal decree that dismantled AT&T, the communications giant known as Ma Bell, in 1984. This country's laws against monopolistic dominance over key industries haven't changed in the last decade, but technological advances may have overtaken them to the point they are irrelevant.AT&T's proposed acquisition of McCaw Communications, the largest cellular phone network in this country, has as many legal and competitive implications as it does technical opportunities.
BUSINESS
By Michael Dresser and Michael Dresser,Sun Staff Writer | August 9, 1994
The $12.6 billion merger of AT&T Corp. and the nation's largest cellular phone company, conditionally approved by the Justice Department last month, ran into a new obstacle yesterday as Bell Atlantic Corp. and Nynex Corp. filed a lawsuit seeking to squelch the deal.The suit, filed by the two regional Bell companies and their cellular subsidiaries under the Clayton antitrust law, asks the federal court in New York's Eastern District to issue an injunction forbidding AT&T's acquisition of McCaw Cellular Communications Inc.After a lengthy review, the Justice Department on July 15 announced a settlement under which it would let the merger proceed so long as AT&T took steps to ensure that the deal wouldn't have anti-competitive effects.
BUSINESS
By New York Times News Service | April 6, 1994
WASHINGTON -- A federal judge yesterday blocked AT&T's $12.6 billion deal to buy the nation's biggest cellular-telephone company, saying that it would violate the antitrust ruling that broke up the old Bell system a decade ago.The decision may not necessarily derail AT&T's proposed purchase of McCaw Cellular Communications, but it throws a significant obstacle into the merger plans and is almost certain to delay the merger for at least several months.The...
BUSINESS
By BLOOMBERG NEWS | April 7, 1999
McLEAN, Va. -- MCI WorldCom Inc., the No. 2 U.S. long-distance phone company, is in talks to buy nationwide wireless phone company Nextel Communications Inc., people familiar with the companies said.Nextel has hired Morgan Stanley Dean Witter & Co. and Lazard Freres & Co. to advise it in the discussions. Salomon Smith Barney Inc. is advising WorldCom. Nextel shares have surged about 22 percent over the past three weeks amid takeover speculation, raising its market value to almost $11.5 billion.
BUSINESS
By New York Times News Service | April 6, 1995
Craig O. McCaw, the billionaire who has been looking for a new project ever since he sold his company to AT&T, has finally found one: Nextel Communications, a one-time high flier in wireless communications that has been flirting with death in recent months.Mr. McCaw announced yesterday that he and his family would invest $300 million immediately and as much as $1.1 billion in Nextel over the next six years. If he exercises all his options under his agreement with Nextel, he would own about 23 percent of the company and become its largest shareholder.
BUSINESS
March 7, 1995
Affirmative action challengeNationsBank Corp. has filed a lawsuit challenging how the federal government is monitoring the company's record on affirmative action.The suit seeks to stop the U.S. Labor Department from using bank-employment records in two cities to review the Charlotte, N.C.-based banking company's record on hiring and promoting women and minorities.NationsBank says in the suit, filed last week, that the department's "unwarranted and unreasonable designation" of its Tampa, Fla., and Columbia, S.C., operations for review could cause the bank "to suffer actual injury," because the department can bar the company from federal contracts.
BUSINESS
By New York Times News Service | September 21, 1994
NEW YORK -- Having just consummated an acquisition of the nation's biggest cellular telephone company, executives at AT&T Corp. offered a glimpse yesterday of what they mean by "anytime, anywhere" communications: a colossal marketing opportunity.One day after completing its purchase of McCaw Cellular Communications, AT&T executives reiterated their sweeping vision of how to link the world's biggest long-distance company with the world's largest wireless operator.To whet appetites, AT&T and McCaw executives described an initial sampling of new services: message systems that beep people when calls come in, no matter where they are; two-way paging systems; and "personal phone numbers."
BUSINESS
By New York Times News Service | September 20, 1994
WASHINGTON -- Hours after clearing the final regulatory hurdle, AT&T Corp. completed its $12.6 billion purchase of McCaw Cellular Communications yesterday and formally began an industrywide race to build a national wireless-communications network.As had been expected, the Federal Communications Commission approved the deal, which will unite the world's largest telecommunications company with the world's largest cellular-telephone operator. On balance, the agency said, those aspects of the deal that foster competition outweigh the anti-competitive aspects.
BUSINESS
September 14, 1994
AT&T, McCaw face fresh hurdleThe $12.6 billion merger of AT&T Corp. and McCaw Cellular Communications Inc. will face another legal challenge -- but not until the deal is done.Two regional bell companies, Bell Atlantic Corp. and Nynex Corp., yesterday won a judge's permission to go to trial with a complaint that the deal would harm competition in the cellular long-distance business. But U.S. District Judge Edward R. Korman in Brooklyn had not signed an official order for the trial because attorneys for the two sides were still negotiating restrictions on AT&T and McCaw until the trial takes place.
BUSINESS
By BLOOMBERG NEWS | April 7, 1999
McLEAN, Va. -- MCI WorldCom Inc., the No. 2 U.S. long-distance phone company, is in talks to buy nationwide wireless phone company Nextel Communications Inc., people familiar with the companies said.Nextel has hired Morgan Stanley Dean Witter & Co. and Lazard Freres & Co. to advise it in the discussions. Salomon Smith Barney Inc. is advising WorldCom. Nextel shares have surged about 22 percent over the past three weeks amid takeover speculation, raising its market value to almost $11.5 billion.
BUSINESS
By BLOOMBERG NEWS | January 11, 2000
McLEAN, Va. -- Nextlink Communications Inc., a telephone company controlled by cellular pioneer Craig McCaw, said yesterday that it has agreed to buy Concentric Network Corp. for $2.9 billion in stock in order to add Internet services for business customers. Nextlink will pay $45, or about 0.573 share, for each Concentric share, based on Friday's closing price. Concentric would give Nextlink Internet access and Web-site management services to offer small and mid-size businesses. Selling electronic-commerce services may give Nextlink an edge over its competitors, the regional local-phone service companies, which are barred from offering long distance.
BUSINESS
By Michael Dresser and Michael Dresser,Sun Staff Writer | August 9, 1994
The $12.6 billion merger of AT&T Corp. and the nation's largest cellular phone company, conditionally approved by the Justice Department last month, ran into a new obstacle yesterday as Bell Atlantic Corp. and Nynex Corp. filed a lawsuit seeking to squelch the deal.The suit, filed by the two regional Bell companies and their cellular subsidiaries under the Clayton antitrust law, asks the federal court in New York's Eastern District to issue an injunction forbidding AT&T's acquisition of McCaw Cellular Communications Inc.After a lengthy review, the Justice Department on July 15 announced a settlement under which it would let the merger proceed so long as AT&T took steps to ensure that the deal wouldn't have anti-competitive effects.
BUSINESS
By New York Times News Service | April 6, 1994
WASHINGTON -- A federal judge yesterday blocked AT&T's $12.6 billion deal to buy the nation's biggest cellular-telephone company, saying that it would violate the antitrust ruling that broke up the old Bell system a decade ago.The decision may not necessarily derail AT&T's proposed purchase of McCaw Cellular Communications, but it throws a significant obstacle into the merger plans and is almost certain to delay the merger for at least several months.The...
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