Ma Everything!

With one astonishing deal, AT&T hopes to become a communications colossus--again. This is what it may mean for you

Don't think of it as cable. AT&T wants you to view that innocuous coaxial wire tacked beneath the shag as a gateway to the digital future, one through which phone calls, faxes, e-mail, news, movies and entertainments as yet unimagined will stream into your home, the gigabytes of information flowing seamlessly into your collection of computers, televisions and telephones. And at the end of the month, for all that, AT&T will be sending you one bill.

With last week's $60 billion acquisition of cable company MediaOne and a $5 billion partnership with Microsoft, AT&T and chairman C. Michael Armstrong have completed...

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