Visions of Ma Bell: AT&T Buys BellSouth

By  | 

NEW YORK (AP) - AT&T has confirmed it's reached a deal to acquire smaller rival BellSouth for $67 billion in stock.

The deal would substantially expand the reach of the telecommunications giant, already the country's largest by number
of customers served.

It also goes a long way toward resurrecting the old Ma Bell telephone system.

BellSouth is the dominant local telephone provider in nine
Southeastern states.

Together, the two could have $70 million local-line phone customers and nearly 10 million broadband subscribers.

AT&T and BellSouth are already wireless partners, jointly owning the nation's largest carrier, Cingular Wireless.