The telecom industry's identity crisis

The internet age has become an identity crisis as they face increasing competition from Silicon Valley, an uncertain merger landscape and global pressures in the race to 5G networks. It's no longer enough to power the pipes and cell towers that send internet traffic coursing around the world. The services that ride on top of that traffic, -- Google, Facebook and Amazon -- now dominate the internet ecosystem. Meanwhile, companies like Comcast, Verizon and AT&T that built the networks in the first place are trying to stake their claims in the next round. This dynamic isn't new; telecom companies have been grappling with rising cord-cutters, a saturated broadband market, declining monthly bills and shifting consumer habits for several years. But analysts say it's become a make-or-break situation for the established telecom providers to chart a course for survival — with many planning to do so through mergers and acquisitions.