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BellSouth Affiliate Services Corporation history
BellSouth Affiliate Services Corporation company history timeline
BellSouth was formed in 1983 as part of the court-ordered breakup of the American Telephone and Telegraph Company (AT&T), at that time the world's largest corporation.
In May 1984 it agreed to develop a $3.3 million cellular network in Baton Rouge, Louisiana, with East Ascension Telephone Co. and Star Telephone Co., and a $4.8 million cellular system in Orlando, Florida.
Also in 1984 South Central began offering WatchAlert, a system that allowed a security-alarm signal to be transmitted even if a phone line was busy or cut.
BellSouth made $1.26 billion in 1984.
To promote these technologies to multi-tenant business offices, BellSouth Enterprises, Inc. formed BellSouth Systems Technology in 1984.
BellSouth earned $1.42 billion in 1985.
By 1986 the national Yellow Pages market had reached $6.8 billion, and BellSouth was expanding its Yellow Pages services out of its area of operation in search of greater profits.
By 1988 BellSouth was the fastest growing regional holding company, with an impressive use of new technologies and services and the addition of 600,000 new telephone lines to the network every year.
In 1988 BellSouth reversed the trend, buying Mobile Communications Corp. outright for $710 million in stock.
In 1989 Fortune magazine labeled the company "the most admired utility" for these reasons.
In 1989 BellSouth bought the 60 percent of Air Call Communications that it did not already own for $34.5 million.
BellSouth's local phone earnings, along with those of the other regional holding companies, were regulated by state commissions that allowed only a certain rate of return, about 12 percent to 15 percent by 1989.
By 1990 BellSouth had invested $550 million in overseas operations and was the only regional offering mobile communications on four continents.
However, a federal court ruling in February 1992 allowed the Bell offspring to begin offering new services, such as special fax retrieval systems and interactive video and data networks for businesses.
The company also built a trial interactive multimedia network in 1995, limiting it to the Atlanta suburb of Chamblee.
By May 1998, there were only four Baby Bells left, and BellSouth, which had long been the biggest of the regional phone companies, was now the second smallest.
Net income rose as well, and the company had record cash flow from operations in 1998.
in 2004, AT&T and Verizon announced plans to roll out cable/broadband services.
Meanwhile, by 2005, the Bell companies have been able to garner over 60% of the long distance market because they could upsell local and long distance as a package.
Morningstar: © 2018 Morningstar, Inc.
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