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AT&T may sell pager unit
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November 26, 1997: 7:20 a.m. ET
Shift toward core telecommunications business may lead to sale of pager unit
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NEW YORK (CNNfn) - AT&T Corp. has decided to sell off its paging unit in an ongoing attempt to cut some of its peripheral businesses.
No buyer has yet been found but the paging division is expected to bring in about $450 million.
AT&T's paging unit is the ninth largest U.S. service and boasts 1.2 million customers. However, a surge in the use of wireless telephones, some of which offer text displays similar to pagers, has eaten into the paging market.
The telecommunications giant has also been hurt by the lack of a national paging network. Unlike some of its competitors, it has a network stitched together of regional systems, which is seen as a drawback.
AT&T is currently in the midst of a shift towards strengthening its core telecommunications business and shedding low-growth businesses not related to those operations.
To that end, the company said last month it was also selling its credit card and contract customer-service units.
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