Al Telephone and Telegraph Company, now known as AT&T is one of the world’s largest telecommunications companies based in the US. It is equally one of the biggest providers of mobile telephone services in the country ranking 9th on the Fortune 500 rankings of the largest United States corporations in 2020.
It had total revenue of $181 billion within that year alone.
The company was formerly known as SBC communications but later changed its name to AT&T after some structural reorganization in 2005. For the most part of the 20th century, AT&T had a monopoly on phone services in the United States even before the advent of several other telecommunication networks.
Does AT&T Own Verizon?
AT&T acquired some select Verizon Wireless, Unicel, and Alltel properties to enhance their wireless network coverage primarily in rural areas in 79 service areas including Alabama, Arizona, California, Colorado, Iowa, Kansas, Michigan, Minnesota, Montana, Nebraska, Nevada, New Mexico, North Dakota, South Dakota, Tennessee among others.
This acquisition greatly enhances AT&T’s assets in terms of mobility. Thus, providing customers on the network with a large on-net reach and lower charges. However, this does not mean that AT&T owns Verizon.