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Justice Department Approves AT&T Acquisition of MediaOne
AT&T (T Quote) moved closer Thursday to becoming the nation's largest cable company, as the Justice Department approved its acquisition of MediaOne(UMG Quote) on the condition that it sell off MediaOne's minority stake in Road Runner, the No. 2 provider of high-speed Internet access.
AT&T already owns a controlling stake in Excite@Home, the leading provider of broadband Internet access, and the MediaOne acquisition would have given it dominance in this market.
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