IRVINE, Calif., May 30, 2000 (PRIMEZONE) -- (www.ibchannel.com) - IBC reported today that AT&T Corp. (NYSE:T) cleared a major regulatory hurdle yesterday in its quest to become the nation's largest cable television and Internet service provider when the Justice Department signed off on its $58 billion acquisition of MediaOne Group Inc. The Justice Department will require AT&T to spin off MediaOne's 34 percent stake in Herndon-based Road Runner, a high-speed Internet service with 730,000 subscribers.
About IBC
IBC's flagship business and finance portal, ibchannel.com, is one of the most well known destinations on the Internet. ibchannel.com has aligned with premier media companies including CNBC, Bloomberg, Raging Bull, The Street, and CNN, as well as the highest quality online financial content providers IPO.com, Morningstar, MarketXT, and StockPoint.
IBC Inc.'s business model is an innovative twist on traditional venture capital companies. Similar to Idealabs!, IBC is an e-business development bank that consults, incubates, develops, and grows global emerging growth companies in exchange for equity. IBC provides turnkey operational solutions to deriving revenues and enhancing public awareness for its partners by implementing advertising, marketing, media placement, strategic partnerships, and branding strategies.