FCC approves AT&T-BellSouth merger.

The commission, which had been split between Democrats and Republicans for months on what, if any, conditions should be imposed on the merger, accepted conditions that AT&T had proposed in a formal letter sent to the commission on Thursday. The merger was approved by 4-0 vote.

First announced in March, the merger will create a super-size AT&T that will become the nation's dominant phone company, controlling more than half the telephone and Internet access lines in the U.S.

The merger follows two other major telecommunications mergers. In 2005, Verizon Communications announced the acquisition of MCI, and SBC Communications said it would acquire AT&T. Even though regulators approved these mergers only on the basis of certain conditions, the deal between AT&T and BellSouth easily won unconditional approval earlier this year from the antitrust division of the Department of Justice. This infuriated the two FCC Democratic commissioners, Jonathan Adelstein and Michael Copps, who had expected some conditions to be placed on the merger.

Now, is it just me, or does it seem that AT&T is back in the market? A few years back it seemed that they were doomed, but not I'm not too sure. While speaking to some of my Business friends and the University of Alberta, they told me that telecommunication stocks are the place to invest as no matter what happens, people will have to communicate with each other. Smart thinking my friend. Smart thinking.

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