AT&T Plans to Buy BellSouth

AT&T Plans to Buy BellSouth: (From the Wall Street Journal [subscription required]) “An AT&T-BellSouth deal would effectively cleave the nation’s telecom services into two massive monopolies, each vertically integrated with a local phone operation, business services, and wireless unit. And it would effectively validate the vision of competition laid out by the government — one in which traditional telecom firms compete directly against cable operators rather than against each other. A combination — which would exceed BellSouth’s current $56 billion market capitalization — would nonetheless set a showdown between AT&T and Verizon, as the two fight to control wireless, the growth portion of the telecom business.”