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Short Take: SBC takes major charge for Pac Tel

SBC Communications said it will take a $1.9 billion to $2.3 billion write-down related to its buyout of Pacific Telesis, including the near-shutdown of video services and closure of cable TV operations in California. Deregulation allowed phone companies to get into the TV business, giving more choice to consumers. But many telcos have opted out, at least for now, to focus on core services.