Umm.. The break up of AT&T is precisely what sparked the telecommunications revolution in the first place, or at least it was a huge factor. AT&T had petrified so much that innovation was virtually nil. As for its merger with SBC, the world has changed, and telcom has moved far beyond just local/long distance; and moreover, AT&T is still not even remotely the monopoly it once was.
I haven't seen any innovation sparked because of the break-up. I see a lot of technologies coming around and growing but that has more to do with time and eventualities then the break-up.