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After this purchase, SBC adopted the better-known AT&T name and brand, with the original AT&T Corp. On November 18, 2005, SBC Communications, Inc.based in San Antonio, purchased AT&T Corp. Purchase of former parent and acquisitions (2005–2013) įurther information: History of AT&T § Rise of SBC, and History of AT&T § Post-consolidation wireless acquisitions Zeglis ended his service as president of AT&T in 2001 and resigned from his positions in AT&T Wireless in 2004. By 1998, the company was in the top 15 of the Fortune 500, and by 1999, when Zeglis assumed the positions of chairman and CEO of AT&T Wireless, AT&T was part of the Dow Jones Industrial Average (lasting through 2015). Michael Armstrong was named CEO, and Armstrong appointed John Zeglis as president later in that same year. During this time, the company changed its name to SBC Communications Inc. In the latter half of the 1990s, the company acquired several other telecommunications companies, including two Baby Bells ( Pacific Telesis Group and Ameritech Corporation), while selling its cable business.
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The company soon started a series of acquisitions, including the 1987 acquisition of Metromedia mobile business and the acquisition of several cable companies in the early 1990s. Southwestern Bell Corporation (SBC) was one of the companies created by the breakup of AT&T Corp. AT&T continued to operate long-distance services but faced increasing competition from overseas supplied competitors such as MCI and Sprint. These new companies were known as Regional Bell Operating Companies, or more informally, Baby Bells. regulators broke up the AT&T monopoly, requiring AT&T to divest its local subsidiaries, which it did by grouping them into seven individual companies.
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It is the world's largest telecommunications company by revenue and the third largest provider of mobile telephone services in the U.S. is an American multinational telecommunications holding company that is Delaware-registered but headquartered at Whitacre Tower in Downtown Dallas, Texas.