The 1996 Telecommunications Act seems to be encouraging competition in key segments of the telephone and cable television industries. Stock price data suggest that the wave of "megamergers" in telecommunications-probably an unanticipated result of the Telecommunications Act-is associated with...

Dynamic competitive forces are dramatically altering mobile markets in the U.S. and around the world. Wireless networks, having sunk considerable capital in the creation of phone systems, must not only compete among themselves for subscribers, but also need to form strategic alliances with...