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AT&T, Raleigh agree on ultra-fast Internet installation

AT&T EARNS 2
Craig Warga - BLOOMBERG NEWS
Priming itself for the age of Internet-delivered video, AT&T Inc. said it would buy DirecTV for $48.5 billion in cash and stock, or $95 per share.

RALEIGH AT&T said Wednesday it has reached an agreement with city officials to install gigabit high-speed Internet service in parts of the city.

The fiber-based service will be part of an initiative called the North Carolina Next Generation Network.

The company said the gigabit network will deliver data speeds as much as 10 times faster than what is available on conventional networks.

AT&T did not specify which areas in the city will receive the ultra-fast service.

Similar networks, which AT&T calls “AT&T U-verse with GigaPower,” have been approved in Durham and Winston-Salem, and the company has asked for approvals from Carrboro, Cary and Chapel Hill, an announcement said.

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