Microwave Corp., AT&T; Form Venture: The two...

Microwave Corp., AT&T; Form Venture: The two companies said they have entered into an agreement to develop advanced microwave radio products for use in phone networks and private radio systems. The two will develop digital radio products that will use a new industry standard to send signals over the air through the fiber-optic cables increasingly used in telephone networks. The new standard is based on a technology called synchronous digital hierarchy transmission. Both companies will market the new radio products, with American Telephone & Telegraph Co. concentrating on high-capacity applications and Digital Microwave on low- to medium-capacity uses.