reneging on offer

just got a better ft offer than the one I got from my summer internship (completely different industry buy v. sell side, fi v. equities, more favorable city, bigger firm). am going to take it but don't know how to let the other firm know. any advice or ways you'd want to be let know if it was you? clearly I'll call but anything I should say to stay on as good of terms as possible?

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