After failing to persuade legislators that the elimination of competition is a good thing, AT&T announced yesterday, December 19th, 2011, that they will abandon plans for their market destroying merger with T-Mobile. Of course, this will spell certain doom for us all. Check out this except from AT&T’s press release:
The actions by the Federal Communications Commission and the Department of Justice to block this transaction do not change the realities of the U.S. wireless industry. It is one of the most fiercely competitive industries in the world, with a mounting need for more spectrum that has not diminished and must be addressed immediately. The AT&T and T-Mobile USA combination would have offered an interim solution to this spectrum shortage. In the absence of such steps, customers will be harmed and needed investment will be stifled.
Because monopolies are great for growth. You can read the whole press release on AT&T’s site.