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AT&T; Corp is restricted in its business activities thanks to a 1982 agreement with the Justice Department that broke up the old AT&T; telephone monopoly. The consent decree:
Bars AT&T;, or any of its successors, from investing in any of the seven regional Bell operating companies.
Allowed AT&T; to enter the computer business and continue producing telephone equipment and conducting telephone research and development, but barred AT&T; from providing local telephone exchange service.
Took away AT&T;’s control over the Yellow Pages phone directories and transferred the lucrative publishing business to the regional Bells.
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