Phone conglomeration fun

With AT&T's reported acquisition of Bell South, things are looking more incestuous than ever in the telecommunications market. A brief history:

AT&T gets really freaking big
AT&T splits divisions off into the Baby Bells
Cell phone companies start popping up all over, including at the Bells and AT&T
SBC starts buying up other Bells like mad
SBC and Bell South start joint venture Cingular Wireless
AT&T spins off its cell phone division
Cingular Wireless buys AT&T Wireless, is largest wireless carrier
SBC buys AT&T, changes its name to AT&T, is largest wired carrier
New AT&T buys Bell South, bringing Cingular under its total control

Hmm. That antitrust thing worked really well.