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Imagine that AT&T is a country made up of several states. The federal government has certian amount of control over each state, though the state retains some power. Most of the states in AT&T are controled mostly by federal power.
Cingular was originally a state shared by the countries SBC and BellSouth. Cingular was so powerful that it was able to conquor AT&T's wireless state (at the cost of $41b). AT&T itself was powerful enough to take SBC and BellSouth, thus taking control of Cingular. Cingular, being strong and popular, was able to remain relatively independant for a time, as it already had loyalty and a good reputation (and a little orange logo that was nationally recognizable).
Now, however, AT&T has enough power to retake Cingular totally. Cingular will become "the New AT&T", and the little orange man will cease to be.
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