AT&T is a telecommunications company that provides wireless communications, local exchange, and long-distance services.
Origin and growth (1885–1981)
AT&T was founded as Bell Telephone Company by Alexander Graham Bell, Gardiner Greene Hubbard, and Thomas Sanders after Bell’s patenting of the telephone. One of its subsidiaries was the American Telephone and Telegraph Company (AT&T), established in 1885, which was acquired by the Bell Company on December 31, 1899, but for legal reasons, AT&T remained the main company.
Breakup and reformation (1982–2004)
In 1982, U.S. regulators broke up the AT&T monopoly, requiring AT&T to divest its regional subsidiaries and turning them each into individual companies.These new companies were known as Regional Bell Operating Companies, or more informally, Baby Bells.AT&T continued to operate long-distance services, but as a result of this breakup, faced competition from new competitors such as MCI and Sprint.
The company changed its name to SBC Communications. By 1998, the company was in the top 15 of the Fortune 500, and by 1999 the company was part of the Dow Jones Industrial Average (lasting through 2015).
Recent developments (2014–present)
In late 2014, AT&T purchased Mexican cellular carrier Iusacell, and two months later, it purchased the Mexican wireless business of NII Holdings.AT&T merged the two companies to create AT&T Mexico.
In July 2015, AT&T purchased DirecTV for $48.5 billion. AT&T then announced plans to converge its existing U-verse home internet and IPTV brands with DirecTV, to create AT&T Entertainment.
On April 24, 2020, AT&T announced that effective July 1, 2020, company COO John Stankey would replace Randall L. Stephenson as CEO of AT&T. It was also acknowledged that AT&T’s acquisitions of DirecTV and Time Warner had by this point resulted in a massive debt burden of $200 billion for the company.
As a result of planned cost cutting programs, the sale of Warner Bros. Interactive Entertainment, DirecTV, Xandr, and Crunchyroll were proposed. The planned sale of Warner Bros. Interactive Entertainment was abandoned after COVID-19 related growth in the Gaming industry, as well as a positive reception to upcoming DC Comics, Lego Star Wars, and Harry Potter titles from fans and critics. The other subsidiaries are still receiving bids as of September 1st, 2020.
They aspire to be the most admired and valuable company in the world. Their goal is to enrich their customers’ personal lives and to make their businesses more successful by bringing to market exciting and useful communications services, building \r\nshareowner value in the process.
Their mission is to exploit technical innovations for the benefit of AT&T and their customers by implementing next-generation technologies and network advancements in AT&T’s services and operations.