Word: cellular
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Dates: during 1990-1999
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...father of Michael Jordan, had been murdered, police in Lumberton, North Carolina, arrested two youths in connection with the killing. Larry Martin Demery and Daniel Andre Green, both 18, are charged with robbing and murdering Jordan. Police found the pair by tracing calls they had made on the cellular phone while joyriding in Jordan's Lexus...
...announced it would acquire McCaw Cellular Communications, the nation's largest cellular-telephone company, for $12.6 billion. The pending deal has prompted antitrust concerns as Ma Bell hopes to stake its place in the booming wireless communications business, bypassing the Baby Bell systems that now handle cellular calls...
...highly personal kind of deal, done in a quiet hallway of a New York City hotel, man to man. The place was the Waldorf Astoria, and the players were Robert Allen, chairman of AT&T, and Craig McCaw, head of McCaw Cellular Communications. In the middle of an edgy negotiation, they had left their factotums, emissaries and lieutenants behind and paced the corridor together for just 20 minutes before shaking hands on a transaction in which the largest U.S. telephone company would buy the No. 1 provider of cellular service for $12.6 billion in stock. In the process, Craig McCaw...
Together, AT&T and McCaw will give rivals plenty of reason to fret. They are expected to strengthen each other's hold on their respective markets. By linking its own computerized telephone grid with McCaw's advanced cellular network, AT&T is expected to develop a broad menu of customized services. It could, for instance, bundle telephone handsets, long-distance and cellular service in a single package. With AT&T, Craig McCaw moves one step closer to realizing his biggest dream: building the first nationwide cellular-telephone network...
...merger turned out to be the richest -- and luckiest -- deal in McCaw's life. The two companies had first spoken of the arrangement last November when AT&T agreed to acquire 33% of McCaw Cellular of Kirkland, Washington, for $3.8 billion. Negotiations stalled, however, over the issue of how to divvy up strategic decisions and future profits. The solution of buying all of McCaw, rather than just part of it, might not have been possible a few months ago. Fortune intervened, however, when the value of AT&T's stock rose 46%, or $26.5 billion, between November and two weeks...