Cinci Bell, like SNET in Connecticut, was an AT&T affiliate rather than a subsidiary like the other operating companies. In practical terms it made little difference, since they had licensing agreements for the Bell trademarks and patents, bought their equipment from Western Electric, and otherwise operated just like all the other operating companies. Both were minority owned by AT&T with the rest of their stock listed on the NYSE, and were boring utility stocks you bought if you wanted a reliable dividend.
At the time of the Bell breakup, AT&T sold off their holdings in both and cut them loose. SNET was later bought by SBC, which is kind of odd since it is a fairly small telco surrounded by then Bell Atlantic now Verizon.
Cinci Bell is still independent. It makes sense that nobody bought Cinci since they made themselves financially unattractive during their Broadwing phase. Now that they've straightened themselves out I expect that sooner or later at&t will buy them since they're surrounded by at&t territory and their wireless is GSM which would be straightforward to integrate into Cingular's GSM network.
R's, John