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SBC-Bellsouth JV taps CEO
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July 14, 2000: 5:01 p.m. ET
Stephen Carter to head wireless company created by two telecom firms
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NEW YORK (CNNfn) - SBC Communications Inc. and BellSouth Corp. on Friday tapped Stephen Carter to pilot the joint-venture company that will be created with the merger of the two telecommunications companies' U.S. wireless operations.
Carter, who was president of SBC Wireless, responsible for SBC's U.S. wireless operations and its nearly 12 million customers, will serve as president and chief executive officer of the joint-venture company.
Prior to managing SBC's wireless operations, Carter led SBC's national expansion into 30 U.S. markets outside its traditional wireline territory, and SBC's long-distance business.
"Our goal in selecting a CEO for the new company was to identify a proven business leader who can fully leverage the powerful assets that will be deployed in our consumer and business wireless markets," said Duane Ackerman, BellSouth chairman and CEO.
 In April, Atlanta-based BellSouth (BLS: Research, Estimates) and San Antonio-based SBC (SBC: Research, Estimates) Communications agreed to combine their wireless telephone operations, forming the nation's No. 2 wireless concern.
The as-yet nameless venture will be based in Atlanta. Two major operations centers will continue to be located in Dallas and Atlanta, focused on serving more than 17.4 million customers and 175 million potential customers in 34 states, the District of Columbia, and two U.S. territories.
The alliance will form a powerful nationwide wireless network boasting 16.2 million wireless subscribers, reaching 19 of the nation's top 20 markets and 40 of the top 50, and generating annual revenue of $10.2 billion.
At that size, SBC/Bellsouth will be capable of competing head-to-head with current industry leaders Verizon Wireless, the new venture created this week by Verizon Communications (VZ: Research, Estimates) and Vodafone AirTouch (VOD: Research, Estimates), and with AT&T Corp. (T: Research, Estimates) and Sprint PCS (PCS: Research, Estimates).
The venture also named Mark Feidler as the company's chief operating officer. He is currently the president of BellSouth's domestic wireless operations.
The proposed joint venture currently is under review by U.S. government regulators. The European Union has approved the proposed venture. The companies anticipated receiving regulatory approvals and beginning operations later this year. 
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