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We present segmented transmission-line (TML) electroabsorption modulators (EAMs) with characteristic impedance close to 50 Ω. The segmented TML approach allows us to design a traveling-wave EAM with 50 Ω impedance and very high bandwidth. The devices show low return loss (<-15 dB) and excellent frequency response up to 50 GHz, and exhibit a maximum model-extrapolated 3 dBe bandwidth (BW) of 90 GHz. An effective modeling tool based on Bloch-wave analysis is derived. Design considerations and TML properties for periodic TML-EAMs are discussed.