At&t; exits satellite operations business

AT&T; Corp. said it withdrew its application with the U.S. government for a license to launch a new generation of communications satellites. AT&T;’s decision to cancel its

application to the Federal Communications Commission follows the disposal of several of its existing satellite businesses in recent months, completing its exit from the satellite operations

business. In a statement, the New York-based company said investment in the new Ka-band satellite technology was a drain on capital resources that did not fit with a renewed focus on its

core long-distance business and key growth areas of wireless, online and local services. Ka-band refers to radio frequencies that handle two-way voice and data communications. The new class

of satellites would have allowed AT&T; to offer a range of next-generation communications services such as video, data transmission and high-speed Internet services. MORE TO READ