No. 27: AT&T
Industry: Telecommunication Services
Sales: $118.9 billion
Net Income: $12 billion
AT&T (T), formerly SBC Communications, remade itself into the nation's largest telecom company via bold acquisitions, combining AT&T Wireless with its now-defunct Cingular brand in 2004, acquiring long-distance giant AT&T in 2005, and finally closing a merger with BellSouth in 2006. Now, CEO Randall Stephenson has an advantageous set of assets, including the nation's largest wireless network. In 2007, the San Antonio giant kept rolling, thanks to the tieup with Apple for rights to sell the iPhone in the U.S. Another partnership, with coffee king Starbucks, will offer free Wi-Fi to existing AT&T users.
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