David M. Ewalt, 10.11.04

NEW YORK - Verizon Wireless, the hulking champ of the cellular world, is about to meet a new contender.

Any day now, the Federal Communications Commission is expected to recommend the approval of Cingular Wireless' $41 billion buyout of AT&T Wireless, a deal which threatens to create the country's largest wireless carrier and to bump the market leader out of first place.

Cingular, a joint venture between SBC Communications and BellSouth, is currently the No. 2 carrier, and AT&T Wireless is No. 3. The post-buyout Cingular could have around 46 million customers, and would likely boast the largest and most robust coverage area of any carrier.

Full Story at Forbes