Cingular Wireless Loses &#36;497 Million in 4Q
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In results skewed by its blockbuster acquisition of AT&amp;T Wireless Services Inc., Cingular Wireless LLC swung to a loss in the fourth quarter but said Monday it was heartened by its status as the nation's largest mobile phone provider.
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Atlanta-based Cingular Wireless, on the cusp of closing its acquisition of AT&amp;T Wireless, reported third-quarter results yesterday that showed higher sales and a slight decrease in operating income.
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Profit fell 94 percent in the third quarter as sales fell in the companyâs cell phone business, but it forecast better-than-expected fourth-quarter results.
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The media company said it lost $333.4 million in the fourth quarter on write-downs, the cost of newspaper spinoffs and weak ad sales.
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Cingular Wireless, the mobile venture of SBC Communications Inc.  and BellSouth Corp. , said on Monday revenue rose in the fourth quarter on strong subscriber growth.
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Description: The Justice Department clears the way for Cingular Wireless to acquire AT&amp;T Wireless. The deal, worth an estimated $41 billion, would make Cingular the nation&#39;s largest wireless phone company.
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Sprint Nextel Corp., the nation's third largest wireless carrier, said Wednesday that fourth-quarter profits rose 33 percent on stronger revenue, but the company continued to lose high-quality subscribers.
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Cingular Wireless on Tuesday closed  its $41 billion cash purchase of AT&T Wireless Services Inc.  AWE.N, creating the biggest U.S. mobile service with more  than 46 million customers.
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MCI Inc. yesterday reported a loss of $3.4 billion during its third quarter, reflecting its recent decision to write down the value of its telecommunications network.
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The California Public Utilities Commission on Thursday upheld a &#36;12.1 million fine against Cingular Wireless, related to a two-year investigation into the cellular telephone company's business practices.
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The announcement comes after Sprint last week reported deeper-than-expected customer losses for the fourth quarter and said it would cut about 4,000 jobs in a bid to reduce costs.
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Cingular Wireless on Tuesday closed  its $41 billion cash purchase of AT&T Wireless Services Inc.  AWE.N, creating the biggest U.S. mobile telecom service with  more than 46 million customers.
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Cingular Wireless today announced it has completed its previously announced merger with AT&amp;T Wireless, creating the nation&#39;s biggest wireless carrier with the
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Cingular Wireless on Wednesday said record new subscribers drove revenue higher in the third quarter, but blamed a decline in operating profit on increased costs to gain customers and from its pending merger with AT&amp;T Wireless Services Inc.
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Cingular Wireless LLC&#39;s $41 billion buyout of rival AT&amp;T Wireless Services Inc., approved Tuesday by the Federal Communications Commission, is expected to give customers
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SBC Communications Inc., SBC.N the  No. 2 U.S. telecommunications company, said on Wednesday its  fourth-quarter earnings fell 17 percent, hurt by merger-related  costs at its Cingular Wireless joint venture and one-time  charges for job cuts and pension changes.
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Qwest Communications International Inc. (QN: Quote, Profile, Research) , the No. 4 US local telephone company, on Thursday reported a third-quarter loss as it settled