The Justice Department yesterday approved the sale of AT&T to SBC and the sale of MCI to Verizon, though hurdles remain, reports the New York Times. The Federal Communications Commission is scheduled to meet today to consider the deals. The deals are also subject to approval by several state regulators. Yesterday, SBC said it would adopt the AT&T name after the purchase was completed. SBC and Verizon will together control 56 percent of that $135 billion market, according to the Yankee Group.

The next largest competitor will be Qwest Communications with 7 percent. Still, Justice Department antitrust regulators made few demands on SBC and Verizon; smaller phone companies have said the deals would reduce competition.

"Rubber-stamping these mergers is an embarrassing milestone in this nation because it puts an end to any real hope of head-to-head telephone competition," said Gene Kimmelman, the senior director of public policy at the Consumers Union.