AT&T Seen Planning Spin-Off

AT&T Corp. reportedly might spin off its consumer long-distance operations into a new company as a way to separate its fast-growing broadband and wireless business from its slow-growth groups.

The AT&T board of directors started looking at the move after management proposed it at an annual retreat held in late September, the Wall Street Journal reported last week, citing observers familiar with the matter. Industry analysts have watched AT&T's stock plummet - losing more than 50% of its value in the past six months - and wondered what steps it could take to reverse its course.

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