Recent competitive activities by the now seasoned Baby Bells could have global impact with the emergence of IPTV (Internet Protocol Video) as a serious priority for U.S. telecommunications as companies try to 'fend off cablers offering Internet phone services. Verizon Communications and AT&T, the largest regional Bells, are laying billions of dollars in fiber to deliver IPTV to customers, and the Bells will connect many millions of homes with fiber or more robust versions of digital subscriber line (DSL) that can transport video. The companies will build out this time around instead of buying, with Verizon in the lead for build out, as the company plans to build connect every home in its region with fiber. The plans are expensive, with Infonetics Research's Jeff Heynen predicting that Verizon' plans will cost between $1,200 and $1,500 per subscriber, while the model used by AT&T and BellSouth will cost between $700 and $900 each. There are already IPTV customers in Hong Kong, and France, Italy, the United Kingdom, and many other countries have had uneven success in launching IPTV. Topics covered include the ways in which the Bells are differentiating themselves from cable, the effects on opportunity of new technologies, and advantages for some wireless companies. The cash flow gained by the Bells through the purchase of AT&T and MCI will cover a large part of the expense of laying fiber, if not all of it, even though customer reaction is still not certain.