Teleport Communications Group
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Teleport Communications Group (TCG) was the first Competitive local exchange carrier (CLEC) in the U.S. First formed in 1985, it competed with the existing telephone companies to provide dial tone and related services in the largest U.S. markets.[1] The success of TCG and other CLECs demonstrated that competition was possible in the local telephone market. This contributed to the passage of the Telecommunications Act of 1996 which eased the entrance of new CLECs by requiring the incumbent telephone companies, the largest being legacies of AT&T, to interconnect with the new entrants.
In 1998, TCG was acquired by AT&T for $12 billion. At that time the publicly traded TCG (NASDAQ, TCGI) served 65 markets and generated $800 million in revenue. Its largest investors were cable TV companies TCI, Comcast and Cox Communications. [2]
- ^ Teleport Communications Group (March 5, 1998). "Annual Report". 10-K: 3–5. Securities Exchange Commission.
- ^ Teleport Communications Group (March 5, 1998). "Quarterly Report". 10-Q: 6–7. Securities Exchange Commission.
