AT&T; Says Loss Widens on Calling Card Fees
- Share via
In a statement filed with the Securities and Exchange Commission, AT&T; Corp. said its 2004 loss widened by 46 cents a share because of $553 million set aside for fees U.S. regulators ruled the company must pay.
The Federal Communications Commission ruled unanimously last month that AT&T; -- the largest U.S. long-distance phone company -- owed the fees on prepaid calling cards dating to 1999. The decision will be appealed, said the company, which is based in Bedminster, N.J.
Shares of AT&T;, which is being acquired by SBC Communications Inc., fell 4 cents to $19.35 on the NYSE.
From Bloomberg News
* Nextel Partners Inc., whose mobile telephones can be used as walkie-talkies, said it would restate financial results from 2000 to 2004 because of new accounting rules for lease transactions.
* John Muleta, chief of the wireless bureau at the Federal Communications Commission, plans to leave his post at the end of March for unspecified reasons.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.