Date of Award

Spring 2006

Document Type

Legacy Thesis

Degree Name

Bachelor of Science (BS)


Finance and Economics


College of Business

First Advisor

Robert B. Burney


There has been a strong move toward consolidation of the Telecommunication and Information Communication industries a) after the forced divestment of AT&T, b) after the passage of the Telecommunications Act of 1996, and c) due to the strength of the current (5th) merger wave which encompasses all industries in the United States. One of the key characteristics of this wave is the usage of debt by both acquirers and targets. It is helpful to analyze the relationship of debt usage by all parties so as to establish a prediction into the direction of the consolidation.