The Baby Bells want to enter cable's market -- without paying the same fees

The Baby Bells have been making headlines lately with bold plans to take on the cable industry. SBC Communications Inc. (SBC ) aims to spend as much as $6 billion by 2007 to build a state-of-the-art fiber system connecting 18 million homes to TV programs, as well as voice and Internet data. Verizon Communications Inc. (VZ ) has an even more technologically ambitious goal: spending $2.4 billion by the end of 2005 to provide video and other services to some 3 million homes. BellSouth Corp. (BLS ) has big plans, too.

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