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AT&T, which traces its routes to the founding of the telephone, promoted a Single Policy, Single System geared towards Universal Service. Thus by 1920, AT&T emerged as the dominant telecommunications company. Until 1934 AT&T was highly regulated by the states with price control per the government's request to protect consumers from abuses often associated with monopolies. The Telecommunications Act of 1934 created the Federal Communications Commission, which took regulation to the federal level.
AT&T retained its natural monopoly status for years until the government realized that AT&T was partaking in monopolizing the telecommunications industry with no controlling factors...
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