51.  It is expected to announce an agreement with a regional Bell operating company to resell cellular services, analysts said.

52.  It is unclear what kind of support there is for creating a smaller operating company.

53.  Its shares are paired and traded with Starwood Lodging Corp., a hotel operating company.

54.  Kalla says that while the regional Bell operating companies are well-positioned, business will become grimmer for long-distance carriers.

55.  Keitel declined to estimate the annual revenue expected from airport landing fees, concessions and other services provided by the operating company.

56.  Last April, Pacific Telesis Group -- one of the seven regional Bell operating companies -- spun off its cellular operations, creating a company called AirTouch Communications Inc.

57.  Many large phone companies continue to cut jobs, most notably the seven regional Bell operating companies.

58.  Meanwhile, the regional operating companies are just beginning to offer long-distance service to their local customers one state at a time.

59.  MCI in the third quarter will also benefit from lower fees it pays to the seven regional Bell operating companies to pass long-distance calls through their networks.

60.  Moreover, MediaOne and Time Warner have large interests in Time Warner Entertainment, a programming and cable operating company.