Niagara Falls (New York) Gazette, June 26, 1928, page 29:

SERIES  OF  MERGERS  CREATES  IMPRESSIVE  RADIO  COMPETITION
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International  Radio  Telephone  and  Telegraph  Co.,  Makes  Big  Bid  for  Business.
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    WASHINGTON, June 26.--One swallow does not make a summer but, to paraphraseth is truism, three swallows may make a powerful competitor to the Radio Corporation of America.
    This is the interpretation of politicians and radio authorities with respect to the absorption of the Mackay Radio and Telegraph Company by the International Radio Telephone and Telegraph Company. The latter organization, with its world-wide ramifications in radio, telegraph and cable, looms as a competitor of R. C. A. in bidding for communication channels and traffic.
    This latest merger is the climax to a series of "swallows." The Brandes Radio Company was the first to be swallowed up, the Federal Telegraph Company of San Francisco absorbing the radio interests of this New Jersey manufacturer of loud speakers and headsets. This merger also included the Kolster radio interests, which was once an integral part of the Federal Telegraph Company.
Into  Bigger  Unit
    The ink was hardly dried on the contact binding these two companies when the news was flashed of the absorption of the Federal Telegraph company by the Mackay system. Now the International Radio Telephone and Telegraph Company combines all of these erstwhile units into a single organization.
    Mackay, it may be recalled, was a strong contender for short-wave channels at the hearings of the Federal Radio Commission. This company then loomed as a competitor of the Radio Corporation of America, both contending with considerable emphasis for their alleged rights to a division of the short-wave channels.
Claim  for  Waves  Stays
    The absorption of the Mackay interests by the International does not, presumably, change the status of these claims. The application of the former company for the use of high frequencies for commercial communication is on file with the Federal Radio Commission and there is no indication of its withdrawal. In fact, the International, with its far-flung tentacles, will probably be even more insistent in its claims for short-wave channels.
    If this potential competition between the Radio Corporation of America and the International Radio Telephone and Telegraph Company becomes formidable, it will have a wholesome effect on the radio industry. The Federal Trade Commission will certainly welcome competition in radio, since this body is investigating monopolistic charges.