The Federal Communications Commission has approved the mergers of SBC with AT&T and Verizon with MCI.

According to the Commission's Web site, [the FCC]... concluded that consumers will reap the rewards of the public interest benefits that will flow from these mergers. These benefits include integration of complementary networks, which will increase efficiency and provide consumers with new services and improved network performance and reliability. The mergers will create stable, reliable U.S.-owned companies that will provide improved service to government customers and benefit national defense and homeland security. In addition, the mergers will give the companies increased economies of scale and scope, which should increase their incentives and resources to engage in basic research and development. Finally, the mergers should result in substantial cost savings, which should benefit consumers throughout the country.

TMCnet's own Robert Liu offers some excellent commentary on today's FCC news.