What Happened on July 26th

AT&T Corp. and Microsoft Corp. announced an alliance to promote Microsoft's World Wide Web browser, Internet Explorer, in a move designed to allow both giants to gain easier entrance into the burgeoning Internet business sphere. Under the deal, AT&T and Microsoft agreed to promote and distribute jointly Internet Explorer and AT&T's Internet service. The deal represented AT&T's move to expand its long-distance telephone service and another effort by Microsoft to offset its late entry into online computing software, a misstep that allowed Netscape Communications Corp. to dominate browser technology.