Mega-Merger Madness in US Telecom Industry

This report, by Jennifer Kerr of the left-wing Associated Press via Yahoo News, reports that the Federal Communications Commission - by a 4-0 vote - accepted plans to let SBC Communications take over AT&T and Verizon to purchase MCI.

This is shameful. Although conditions will be put on these mergers, they should have never taken place. In Distributism, big companies like those above would have been broken up or encouraged to do so. They would have NOT been encouraged to merge and become bigger, for this only centralizes ownership and management of these behemoths into fewer hands.

We can only hope that smaller, worker-owned and managed competitors will arise in the upcoming years. Let us pray for such...and soon!