Last month, AT&T acquired the 40% of Cingular Wireless it didn't own when it got the final go ahead on its acquisition of BellSouth. Now, the company is planning a major advertising campaign to rebrand all Cingular products with the AT&T name. It is the third rebranding related to AT&T since 2004. At that time, AT&T was renamed Cingular after the company acquired the old AT&T's wireless unit. Last year, AT&T dropped a billion dollars changing its name from SBC Communications to AT&T and the current campaign is expected to cost no less. One company likely to profit from such a campaign is AT&T's primary ad agency, Omnicom Group's GSD&M and BBDO.
• Sources: Press Release, NY Times, Reuters,
• Related commentary: It's Official: AT&T/BellSouth Merger Gets FCC Approval, Apple's iPhone Partnership With Cingular Could Drag It Down, AT&T: Optimism On Cingular Growth, Minor iPhone Impact on AT&T
• Potentially impacted stocks and ETFs: AT&T (NYSE:T), Omnicom Group (NYSE:OMC). Competitors: Verizon (NYSE:VZ), Sprint Nextel Corporation (NYSE:S), Vodafone (NASDAQ:VOD). ETFs: Telecom HOLDRS (NYSEARCA:TTH), iShares S&P Global Telecom (NYSEARCA:IXP), iShares Dow Jones US Telecom (BATS:IYZ), PowerShares Dyn. Telecom & Wireless (NASDAQ:PTE), Vanguard Telecommunication Services (NYSEARCA:VOX)
Seeking Alpha's news summaries are combined into a pre-market briefing called Wall Street Breakfast. Get Wall Street Breakfast by email -- it's free and takes only a few seconds to sign up.