The At&T Deal Spells Competition For Now

This is what it must have been like to live at the beginning of the Industrial Revolution. Amazing changes in telecom are coming at breathtaking speed, altering the very nature of work and leisure. In one huge deal, AT&T emerges as a digital goliath, capable of delivering high-speed voice, video, and Internet services into 60% of American homes. It becomes the biggest cable operator in the nation, as well as the leader in long-distance phones. Comcast receives cash and two million subscribers from AT&T. And Microsoft joins in, possibly investing billions in AT&T to expand its software into the set-top boxes that will control the flow of new products into the home. Whew! What are we to make of all of this?

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