This Wall Street Journal lead (or is it more in-the-know to say, lede?) is startling:
SBC Communications Inc.'s agreement to acquire AT&T Corp. for $16 billion comes on the heels of Sprint Corp.'s $35 billion merger deal with Nextel Communications Inc.
Yes, that's right, the SBC-AT&T deal is worth less-than-half of the Nextel-Sprint merger. Wireless is where the action is...and the market capitalization.