Telephone industry consolidation

We have have talked about the power of the incumbent telephone companies. Syed noticed that the FCC just approved the purchase of MCI by Verizon and the purchase of AT&T by SBC (which plans to change its name to "AT&T").

This is part of an ongoing consolidation trend in which the companies that own the wires to our homes and businesses, the "last mile," are growing.

For background, check the class note on telephone history and regulation.