WSJ broke the news that two companies have reached a tentative deal and it could be announced pretty soon. According to the report, AT&T CEO David Dorman will become the president of the joint company, while SBC Chairman and CEO Ed Whitacre is going to retain those two positions. AT&T will have three board seats on the new combined company’s board. “SBC is expected to keep using the AT&T brand name, at least in dealing with its business customers, because the AT&T name is recognized all over the world. SBC’s brand, by comparison, has little recognition outside its territory of mostly Southwestern and Western states,” The Journal adds. The $15-billion stock plus $ 1 billion cash deal turns SBC into the largest phone company in the US, with presence in local, long distance, wireless and business markets.
* More Telecom Mergers Ahead
* Why AT&T is a good deal for SBC?
* Fall out of AT&T-SBC Merger
* The Real Reason SBC wants AT&T
* Press Release
* Merger FAQ
* Partners see problems with the deal
* Dan Gross’s gross attempt at snark – doesn’t work