|
|
|
Satellite
merger could be dead
|
|
The Justice Department will file
a lawsuit today to block EchoStar Communications Corp.'s $21 billion
merger deal with Hughes Electronics, the parent of DirecTV, according
to people familiar with the department's plans.
--October 31, 2002
|
|
Revenue
up, Comcast gets back in the black
|
|
Comcast Corp. posted a more than
12 percent jump in third-quarter sales as the MSO signed up more
high-speed Internet and digital cable customers.
--October 28, 2002
|
|
Financial
news roundup: JDS, Arris, Insight
|
|
As the earnings parade continues
to march on, results from JDS Uniphase Corp., Arris and Insight
Communications Company offer a mixed bag.
--October 25, 2002
|
|
iVAST
realigns
|
|
MPEG-4 software provider iVAST has
let go 10 staffers in an attempt to better align its staff with
market demand.
--October 25, 2002
|
|
SBC:
DSL numbers up, revenue down
|
|
SBC Communications Inc.'s third quarter
results offer a mixed bag. On the one hand, the company beefed
up its DSL subscriber numbers, but on the other SBC suffered a
5 percent year-over-year drop in revenue.
--October 24, 2002
|
|
Lucent
beats earnings estimates, sales plunge
|
|
Lucent Technologies Inc.'s ongoing
attempt to reach break-even revenue of $2.5 billion per quarter
led to another quarterly loss.
--October 23, 2002
|
|
AT&T
Broadband adds advanced service subs in Q3,
but sheds more basics
|
|
In what will likely be the last earnings
call for AT&T Broadband before merging with Comcast Corp. sometime
before the end of 2002, the MSO reported third quarter revenue
of $2.5 billion, up 8.2 percent on a pro forma basis, and up 6.4
percent on a reported basis. AT&T Broadband said the jump was
fueled primary by the addition of new cable telephony, high-speed
data and digital video subs during the quarter.
--October 22, 2002
|
|
EchoStar,
Hughes revise merger plan
|
|
In an effort to save their proposed
$ 18-billion satellite-TV merger, EchoStar Communications Corp.
and Hughes Electronics Corp. filed a revised plan Monday with
federal regulators that will clear the way for new competition,
said people familiar with the filing.
--October 22, 2002
|
|
Flag
emerges in harsh climate
|
|
Global bandwidth merchant Flag Telecom
Holdings Ltd. officially emerged from bankruptcy on Wednesday,
Oct. 9, about six months after filing for Chapter 11 protection.
--October 10, 2002
|
|
AOL
faces tough times
|
|
AOL Time Warner Inc.'s woes keep
adding up. The floundering media giant that's seen ads evaporate
from its American Online division, could now face a steep decline
in profits from its 35 million AOL subscribers, according to a
report issued yesterday.
--October 10, 2002
|
|
Corning,
SBC warn profit will be at low-end of forecasts
|
|
Demand in the telecom sector remains
weak, and Corning Inc. and SBC Communications Inc. say they are
feeling the pinch. Both companies have issued warnings that their
financials will be at the low-end of their earlier forecasts.
--October 9, 2002
|
|
AOL
Time Warner puts big bucks into BigBand
|
|
AOL Time Warner Ventures is the latest
big name to invest in BigBand Networks, a start-up based in Redwood
City, Calif.
--October 8, 2002
|
|
TiVo
raises $25 million
|
|
Digital-recorder-maker TiVo Inc.
has signed an agreement to sell investors $25 million in common
stock.
--October 8, 2002
|
|
Broadbus
snags $12 million
|
|
Video-on-demand server systems startup
Broadbus Technologies Inc. has received a $12 million shot in
the arm. Comcast Interactive Capital participated in the Series
A-1 round of financing.
--October 7, 2002
|
|
Com21
shares up a penny
|
|
The Street was relatively unmoved
by Com21 Inc.'s announcement that its third-quarter guidance will
fall in line with previous estimates. The company's shares were
up a penny in early trading.
--October 4, 2002
|
|
Microtune
stumbles on warning
|
|
Microtune Inc. shares slipped to
a new 52-week low at one point in early trading, following news
that the radio frequency product maker's third-quarter results
will come in below the Street's expectations.
--October 3, 2002
|
|
Cablevision
ranks low in liquidity
|
|
Cablevision Systems Corp. ranks among
companies most likely to run out of cash in the next 12 months,
Moody's Investors Service said yesterday in unveiling a new ranking
system.
--October 3, 2002
|
|
Warning
pummels Charter's stock
|
|
Charter Communications Inc.'s stock
fell as much as 29 percent in early trading, following news that
the MSO has revised its third-quarter growth forecast.
--October 2, 2002
|
|
Court
approves Williams' reorg plan
|
|
After six-months in Chapter 11 proceedings,
Williams Communications Group Inc. says the pieces of its reorganization
plan are falling into place and expects to emerge from bankruptcy
this month.
--October 2, 2002
|
|
360networks
poised to emerge from Chapter 11
|
|
Vancouver-based 360networks is poised
to exit bankruptcy protection, after a bankruptcy judge in the
Southern District of New York approved its reorganization plan
late Tuesday, Oct. 1.
--October 2, 2002
|
|
Harmonic
tumbles on revised outlook
|
|
Wall Street is frowning on Harmonic
Inc.'s stock, following a revised third-quarter outlook that will
come in below previous expectations.
--October 1, 2002
|
|
UPC
restructures debt
|
|
European cable network operator United
Pan-Europe Communications NV has reached an agreement with its
creditors to restructure its debt. The deal will give its parent
UnitedGlobalCom a minimum 65.5 percent interest in the company.
--September 30, 2002
|
|
WorldCom
cuts overseas
|
|
Looking to ensure its overseas operations
continue to be fully funded, WorldCom Inc. has plans to reduce
its foreign work force by 2,000.
--September 16, 2002
|
|
Lucent
to bleed red in Q4
|
|
When the fourth quarter end on Sept.
30, Lucent Technologies Inc. expects to post a wider-than-expected
loss of 45 cents a share. The news pummeled Lucent's stock, sending
its shares down more than 11 percent in early trading.
--September 13, 2002
|
|
Adelphia
holds out on Rigas' severance
|
|
Lawyers for Adelphia Communications
Corp. founder John Rigas say the No. 6 cable company has reneged
on a severance agreement it made in May -- and the one-time CEO
is retaliating by refusing to place his stock into a voting trust.
--September 12, 2002
|
|
Cox
sees brighter days in 2003
|
|
Cox Communications Inc. will be seeing
black a little sooner than it had expected. The MSO plans to reduce
capital expenditures to achieve free cash flow positive for the
entire year 2003.
--September 11, 2002
|
|
Nokia
shaves Q3 sales outlook
|
|
Technology bellwether Nokia expects
to meet its profit goal but has issued a warning that it will
miss its previously stated third-quarter sales forecast as demand
for its network equipment continues to wane.
--September 10, 2002
|
|
Qwest
ponders asset sales
|
|
Qwest Communications International
Inc. chief executive Richard Notebaert said Monday, Sept. 9, that
the company is weighing options for 10 underperforming divisions,
including closing or selling the units.
--September 10, 2002
|
|
Courts
approve bankruptcy plans
|
|
Bankrupt companies Teligent Inc.
and NTL Inc. have received some good news. Their individual plans
to emerge from bankruptcy have been blessed by the courts.
--September 6, 2002
|
|
SONICblue
streamlines
|
|
The turbulent times continue at SONICblue
Inc. The latest: the company is shedding 25 percent of its staff,
including two senior executives.
--September 6, 2002
|
|
Liberate
warns, stock drops
|
|
Liberate Technologies' shares were
shedding 15 percent of their value in morning trading, following
news that the interactive TV platform provider has lowered its
first quarter outlook.
--August 29, 2002
|
|
Icahn
expects 95% of XO debt
|
|
Carl Icahn said Wednesday he expects
to have 95 percent of XO Communications Inc.'s $1 billion in bank
debt after he closes on his tender offer Thursday, Aug. 29.
--August 29, 2002
|
|
Nortel
tumbles on cuts, revised outlook
|
|
As customer spending for telecom
gear continues to wane, Nortel Networks is weighing its options.
The latest: the company plans to cut 7,000 more jobs and has revised
its third-quarter sales forecast. The company's stock fell nearly
18 percent at one point in morning trading action.
--August 28, 2002
|
|
SONICblue
faces Nasdaq delisting
|
|
SONICblue Inc.'s stock was being
pummeled in early morning trading, following the news that the
company has been put on notice by the Nasdaq.
--August 28, 2002
|
|
Nasdaq
puts Gemstar on notice
|
|
Gemstar-TV Guide International Inc.'s
failure to file its second quarter results on time may lead to
a Nasdaq delisting.
--August 27, 2002
|
|
XO
can close on Forstmann
|
|
Bankrupt XO Communications Inc. will
have three weeks to close the $ 800 million buyout offer made
by a reluctant Forstmann Little & Co.-led investment group or
else face the possibility of Carl Icahn controlling the broadband
company.
--August 27, 2002
|
|
Rule
on swaps may spur restatements
|
|
The Securities and Exchange Commission
might force some telecommunications companies to restate earnings
after prohibiting carriers this month from recording revenue from
swaps of fiber-optic cable capacity, accountants say.
--August 21, 2002
|
|
Charter's
credit rating takes a beating
|
|
Standard & Poor's lowered its credit
rating Tuesday on Charter Communications Inc., and Moody's Investors
Service downgraded the cable operator's outlook to "negative"
from "stable."
--August 21, 2002
|
|
Buyers
and sellers: Cisco, Qwest
|
|
Cisco Systems Inc. snatches up storage
switch maker Andiamo Systems Inc., while Qwest Communications
International Inc. finally unloads its directory business.
--August 20, 2002
|
|
VOD
startup Midstream raises $26M
|
|
Fledgling video server company Midstream
Technologies said it raised $26 million in a third round of funding
led by Canaan Venture Partners, a venture capital firm and a new
investor in the Bellevue, Wash.-based startup.
--August 19, 2002
|
|
Revenue
up at AM, ARESCOM
|
|
Despite the lagging economy, AM Communications
Inc. and ARESCOM managed to post positive revenue results.
--August 16, 2002
|
|
Ericsson
boss is hopeful
|
|
The chief executive of wireless equipment
maker LM Ericsson said yesterday that he expects the recession
in the telecommunications market to flatten out next year, but
added there were no clear signs of a turnaround.
--August 14, 2002
|
|
AT&T,
Comcast propose potential debt swap
|
|
With approval of the proposed merger
of AT&T Broadband and Comcast Corp. possibly only months away,
the companies are looking to shore up their balance sheets. AT&T
Corp. may exchange as much as $11.8 billion in debt.
--August 13, 2002
|
|
Toshiba
uses TI's silicon and software
|
|
Toshiba Corp. and Texas Instruments
Inc. are continuing to work together in the cable modem technology
sector. The latest: TI has supplied the silicon and software for
Toshiba's PCX2500 cable modem, the companies announced today.
--August 13, 2002
|
|
Comdisco
emerges from bankruptcy
|
|
Comdisco has reached its goal, and
emerged from Chapter 11 bankruptcy. The reorganized company expects
a 90 percent return to its creditors.
--August 13, 2002
|
|
Asian
companies acquire majority interest in Global Crossing
|
|
Although at times it looked like
a deal between Global Crossing Ltd. and two Asian conglomerates
would never come to fruition, the companies have signed a definitive
agreement that will give Hutchison Whampoa and Singapore Technologies
Telemedia Pte. Ltd. a 61.5 percent majority interest in Global
Crossing.
--August 12, 2002
|
|
WorldCom
creditors want broader financial review
|
|
Some of WorldCom Inc.'s creditors,
concerned that the depths of the telecommunication giant's accounting
scandal haven't been fully disclosed, plan to push the company
for an even broader review of its financial records, according
to the Wall Sreet Journal.
--August 12, 2002
|
|
Cisco
beats expectations
|
|
Cisco Systems Inc.'s fourth-quarter
were better than the Street was expecting, but the networking
giant's good news was not enough to keep the Nasdaq on an upward
swing.
--August 7, 2002
|
|
Nokia,
Digex, Tut downsize
|
|
Although some good news is coming
out of the latest round of quarterly financial reports, many telecom
companies are still cautious. Nokia, Digex Inc. and Tut Systems
Inc. are reducing their staffs to pare expenses as demand continues
to wane.
--August 7, 2002
|
|
Cable
modem growth leads to narrower Q2 loss at Charter
|
|
Demand for high-speed Internet and
digital cable propelled Charter Communications Inc. to a narrower
year-over-year loss in the second quarter.
--August 6, 2002
|
|
Cox
shares drop after analyst downgrade
|
|
Cox Communications shares fell more
than 19 percent Monday after two financial analysts downgraded
the Atlanta-based cable company's stock.
--August 6, 2002
|
|
Verizon
scales back outlook
|
|
Verizon Communications Inc. has cut
its outlook for 2002, citing the ongoing economic downturn.
--July 31, 2002
|
|
Comdisco
gears up for bankruptcy exit
|
|
Comdisco Inc.'s reorganization plan
has been given the green light by the U.S. Bankruptcy Court for
the Northern District of Illinois. The company expects to emerge
from Chapter 11 in August.
--July 31, 2002
|
|
EarthLink
tops broadband add estimates
|
|
Despite fierce competition in the
broadband space, EarthLink Inc. surpassed its quarterly subscriber
estimates for its high-speed Internet service, adding 72,000 customers
during the second quarter.
--July 30, 2002
|
|
Bankruptcy
descends on Birch
|
|
After weighing all its options, Birch
Telecom has opted to seek creditor protection under the shroud
of a Chapter 11 bankruptcy filing, while it works to trim its
debt to $100 million.
--July 30, 2002
|
|
Riverstone
charged with securities fraud
|
|
Less than a week after a class action
lawsuit was filed against metro networker Riverstone Networks
Inc., the company is being sued again.
--July 30, 2002
|
|
Nasdaq
delists WorldCom
|
|
The hits just keep on coming at WorldCom
Inc. The latest: the company's securities have been delisted from
the Nasdaq.
--July 30, 2002
|
|
Accounting
issues pummel Qwest
|
|
Shares of Qwest Communications International
Inc. were taking a beating today, following news that the company
plans to restate earnings for 1999, 2000 and 2001.
--July 29, 2002
|
|
EchoStar
gets another decision in battle with Gemstar
|
|
Marking the third loss for Gemstar-TV
Guide International in about a month, a U.S. District Court judge
in North Carolina has ruled that EchoStar Communications Corp.
did not infringe on any of the Gemstar patents involved in this
particular case.
--July 29, 2002
|
|
Williams
snags Leucadia investment
|
|
Williams Communications Group Inc.
inched closed to emerging from Chapter 11 with a multi-million
dollar investment from Leucadia National Corp.
--July 29, 2002
|
|
Riverstone
hit with class action lawsuit
|
|
Metro networker Riverstone Networks
is the subject of a class action lawsuit filed in a California
court yesterday.
--July 26, 2002
|
|
JDS
cuts forecast
|
|
As the demand for optical networking
gear continues to wane, JDS Uniphase Corp. said it is trimming
is its first-quarter outlook.
--July 26, 2002
|
|
Corning
units on the block
|
|
Corning Inc. has a number of auctions
in the works to raise cash and help reach profitability by 2003,
sources said.
--July 26, 2002
|
|
WorldCom
seeks Chapter 11 protection
|
|
As expected, mounds of debt and a
misreport of nearly $4 billion in expenses, has plunged WorldCom
Inc. into a Chapter 11 bankruptcy filing. The telecom giant's
bankruptcy is the largest in U.S. history.
--July 22, 2002
|
|
Com21
explores its options
|
|
In an attempt to boost shareholder
value, Com21 Inc. has hired Investec Inc. to evaluate its strategic
and business alternatives. The company's shares traded at 33 cents
just after noon EDT today.
--July 22, 2002
|
|
Tellabs'
loss narrows, sales dip
|
|
Tellabs Inc. managed to lower its
year-over-year net loss in the second quarter, but revenue dipped
32 percent. Motorola Inc. and RealNetworks Inc. also posted quarterly
results this week.
--July 17, 2002
|
|
Sprint's
Global Markets Group cuts staff
|
|
Sprint Corp. continued its march
toward a leaner company on Friday, announcing plans to streamline
its Global Markets Group, including shedding jobs, integrating
its data hosting business to other areas of the company and dumping
DSL.
--July 15, 2002
|
|
Cox
secures new bank credit facility
|
|
Cabler Cox Communications Inc. has
secured a new bank credit facility that will enable it to maintain
its liquidity position, the company said Friday.
--July 12, 2002
|
|
Juniper
gains on Q2 results
|
|
Networking gear maker Juniper Networks
Inc. gave the Street something to smile about today, posting second-quarter
results that beat analysts' expectations. The news gave Juniper
shares a shot in the arm, which jumped more than 10 percent in
early trading.
--July 12, 2002
|
|
ADC
slashes outlook
|
|
Capital spending reductions in the
telecom sector are dragging down ADC. The broadband network equipment
and systems provider is curbing its third-quarter sales forecast.
--July 10, 2002
|
|
HSA
loses delisting battle
|
|
High Speed Access Corp. failed at
its attempt keep its common stock trading on the NASDAQ National
Market. Its stock was delisted today.
--July 10, 2002
|
|
Zhone
acquires Vpacket
|
|
Last-mile technology developer Zhone
Technologies Inc. is snatching up another company. The latest:
Zhone has made a deal for Vpacket Communications.
--July 9, 2002
|
|
Qwest
names new CFO
|
|
Even as the Securities and Exchange
Commission noses around Qwest Communications International Inc.,
the telecom has named a new chief financial officer and has reorganized
its operations.
--July 8, 2002
|
|
WorldCom
execs on the hot seat; House probes telecom's finances
|
|
The scene seems all too familiar
now: tense former executives sitting stiffly side-by-side, waiting
for congressmen to hurl harsh words and photographers to snap
pictures as they testify.
--July 8, 2002
|
|
Telewest bondholders foil Malone
|
|
LONDON - It looks like John
Malone may have another battle in Britain.
--June 18, 2002
|
|
Qwest sees bumpy road ahead
|
|
Even without Joseph Nacchio as a
lightning rod for allegations of misleading accounting and excessive
capital spending, the many problems at Qwest Communications International
Inc. make the company an unlikely takeover target, industry observers
say.
--June 18, 2002
|
|
WorldCom sells CPE biz; S&P downgrades credit rating
|
|
WorldCom is shedding some more assets.
The latest: the communications giant has sold its customer premise
equipment business to Allegiance Telecom Inc. for $30 million
in cash.
--June 18, 2002
|
|
Adelphia misses payments
|
|
With Adelphia Communications Corp.
missing a bond interest payment yesterday, the idea that the MSO
will file for bankruptcy is gaining momentum.
--June 18, 2002
|
|
Chip heavyweights form new company
|
|
Three chipmakers are pooling their
brainpower to develop and market digital signal processor (DSP)
technologies for consumer and communications products through
a newly formed company, StarCore.
--June 18, 2002
|
|
SEC filing cites more Adelphia woes
|
|
NEW YORK -- Scandal-plagued Adelphia
Communications Corp. hung out more dirty laundry in a Securities
and Exchange Commission filing late Friday.
--June 17, 2002
|
|
Mergers & acquisitions roundup
|
|
As the tech industry continues to
grapple with the lagging economy, mergers and acquisitions remain
a hotbed of news. The latest: EDS snatches Loudcloud's web hosting
business and Proxim buys Agere's Wireless LAN equipment biz.
--June 17, 2002
|
|
Bankruptcy descends on XO
|
|
Not that it should come as a big
surprise, but XO Communications Inc. has filed for bankruptcy
under the protective blanket of Chapter 11. Along with the filing,
the broadband service provider has submitted a two-pronged reorganization
plan.
--June 17, 2002
|
|
Qwest board nudges Nacchio out
|
|
After financial struggles, downgraded
ratings and an SEC probe, Joseph Nacchio has resigned his post
as Qwest Communications International Inc.'s head honcho.
--June 17, 2002
|
|
Lucent: Weak demand will lead to a revenue slide
|
|
Lucent Technologies Inc. is warning
third-quarter revenue is expected to slide as much as 15 percent
compared to the second quarter. The telecom equipment giant blames
weak demand for its equipment.
--June 13, 2002
|
|
Motorola upbeat on 2nd quarter
|
|
Motorola Inc., the Number 2 maker
of wireless telephones, said yesterday it will meet or beat its
second-quarter guidance, citing growth in all its businesses,
and affirmed its forecast for a profitable third quarter.
--June 13, 2002
|
|
ATI snags NxtWave Communications
|
|
In an all-cash deal, ATI Technologies
Inc. will acquire broadband silicon maker NxtWave Communications
Inc. to expand its set-top box digital signal processing business.
The deal is valued at $20 million.
--June 12, 2002
|
|
In other chip market news...
|
|
Beyond ATI's activities, the chip
industry is buzzing with other news today: Infineon is buying
Ericsson's chip unit and Toshiba Semiconductor and TAEC are licensing
TiVo Inc.'s technology.
--June 12, 2002
|
|
Liberate, Nokia curb forecasts
|
|
The telecom industry is obviously
not out of the woods yet, as evidenced by the news of Liberate
Technologies Inc.'s and Nokia's plans to lower their quarterly
outlooks.
--June 11, 2002
|
|
Viatel gets back in the game
|
|
Telecommunications-network equipment
builder Viatel Holding Ltd. has done something many of its competitors
have failed to do -- emerge from Chapter 11 bankruptcy protection.
--June 11, 2002
|
|
AT&T Canada to restructure debt
|
|
Ailing AT&T Canada said Monday it
will hold talks with creditors and bondholders in an effort to
reach a "consensual restructuring" of its $4.5 billion debt.
--June 11, 2002
|
|
Sprint joins Moody's downgrade club
|
|
Sprint has become the latest telecom
company to be hit with a rating downgrade from Moody's Investors
Service. The recent cut puts Sprint's credit rating one notch
above "junk" status.
--June 10, 2002
|
|
Forstmann looks to back out of XO
|
|
An investment group fronted by Theodore
Forstmann is trying to get out of its $800 million offer to recapitalize
XO Communications Inc. But the troubled broadband provider is
not going to let Forstmann walk away that easily.
--June 10, 2002
|
|
Speakeasy talks its way into $6M
|
|
Growing quietly under the radar screen,
Speakeasy started out as an Internet cafe in 1994. Since then
the Seattle-based company has transformed itself into a broadband
service provider and is expected to announce today that it has
secured $6 million in fresh capital.
--June 10, 2002
|
|
Motorola retools Internet unit
|
|
Motorola Inc. is restructuring again.
In what has become almost an annual ritual, the electronics giant
is shuffling another one of its divisions, this time in an effort
to advance the IP industry. The company is splitting its IP Systems
Group into three businesses: IP Communications Gateway, IP Systems
and Transmission Network Systems.
--June 5, 2002
|
|
Metromedia Fiber likely to unravel
|
|
Bankrupt Metromedia Fiber Networks
Inc. is preparing to begin negotiations this week with its creditors
and bank lenders to eliminate more than $ 4.5 billion in debt
through the sale of unprofitable parts of its fiber-optics business.
--June 4, 2002
|
|
Nortel eyes $800M through equity sale
|
|
Nortel Networks plans to raise $800
million through the sale of equity, the telecom equipment maker
announced yesterday after markets closed.
--June 4, 2002
|
|
StarBand will try to battle EchoStar while in Chapter 11
|
|
StarBand Communications Inc. is battling
EchoStar Communications Corp. over alleged practices that EchoStar
billed and collected revenue from its customers illegally. The
two-way satellite broadband service provider says it will fight
until the issue is resolved, but will be doing so under the protective
shroud of Chapter 11 bankruptcy protection.
--June 3, 2002
|
|
WorldCom sheds some assets
|
|
Cypress Communications Inc. has agreed
to fork over $32 million for the assets of WorldCom Inc.'s shared
tenant telecom services business, dubbed Advanced Building Networks.
--June 3, 2002
|
|
WorldCom
to nix tracking stocks
|
|
WorldCom Inc. has been plagued by
a slowdown in consumer spending, a lagging long-distance market
and questions from the Securities and Exchange Commission about
some of its accounting practices. But the company finally gave
investors something to smile about after it announced plans to
eliminate its tracking stock structure.
--May 20, 2002
|
|
Creditors
won't seek liquidation of WINfirst
|
|
Creditors of beleaguered WINfirst
have agreed not to seek the liquidation of the cable and telephone
company as progress is being made in finding a buyer.
--May 22, 2002
|
|
Adelphia
seeking more time from its lenders
|
|
Cable TV operator Adelphia Communications
Corp. asked banks for more time and the ability to approach other
lenders to line up credit it needs to make debt payments and avoid
bankruptcy, people familiar with the matter said.
--May 22, 2002
|
|
BellSouth
cuts staff
|
|
Rather than passing out pink slips
to unsuspecting employees, BellSouth Corp. is instituting a voluntary
separation plan to pare its work force by as many as 5,000.
--May 22, 2002
|
|
Napster's
savior returns
|
|
Just days after CEO Konrad Hilbers
said he was washing his hands of Napster, the one-time ruler of
peer-to-peer online music file swapping has closed a merger deal
with Bertelsmann.
--May 20, 2002
|
|
Adelphia
to miss payments, confirms grand jury probes
|
|
Following the resignations this week
of two key company executives, Adelphia Communications Corp. on
Friday said it and some of its subsidiaries will miss more than
$43 million in interest and dividend payments, and that two grand
juries are slated to probe the MSO's finances.
--May 17, 2002
|
|
A
delisting may be in Concero's future
|
|
Interactive television company Concero
Inc. has been put on notice its stock could be delisted from the
Nasdaq May 24.
--May 17, 2002
|
|
McLeodUSA
lightens its asset load
|
|
Less than a month after emerging
from bankruptcy proceeding McLeodUSA Inc. continues to eye profitability.
To get one step closer to its goal, the CLEC is selling some non-core
assets to PrairieWave Communications Inc.
--May 16, 2002
|
|
XO
offers new reorganization plan
|
|
Though Theodore Forstmann and Carl
Icahn have made initial plays for control of beleaguered XO Communications
Inc., the company's senior bankers could end up playing a significant
role in the company's reorganization.
--May 16, 2002
|
|
Lucent
outlines ratios for Agere shares
|
|
After several months of delay, Lucent
Technologies Inc. finally has set the ratios for Agere Systems,
the optical components unit it spun off last March.
--May 14, 2002
|
|
FTC
approves AOL-TW ISP partners
|
|
The Federal Trade Commission has
given AOL Time Warner Inc. to add three more names to its list
of unaffiliated ISPs.
--May 14, 2002
|
|
Major
Adelphia shareholder to seek three seats on board
|
|
Adelphia Communications Corp.'s largest
shareholder outside its founding family said Monday he will seek
representation on the board, six weeks after the company incurred
the wrath of Wall Street with the disclosure of $2.3 billion in
off-balance-sheet loans.
--May 14, 2002
|
|
Blonder
Tongue sees small sales boost in Q1
|
|
Blonder Tongue Laboratories Inc.
said net sales for the first quarter grew 1.3 percent to roughly
$10.9 million.
--May 14, 2002
|
|
Mediacom
reports Q1 results
|
|
Mediacom Communications Corp.'s first
quarter results gave the company's stock price a much-need shot
in the arm today. On a pro forma basis, operating cash flow increased
18 percent when compared to Q1 2001.
--May 13, 2002
|
|
AT&T
Broadband files for arbitration
|
|
The battle between AT&T Broadband
and billing company CSG Systems Inc. wages on. The latest: AT&T
Broadband has filed a "demand for arbitration."
--May 13, 2002
|
|
Insight
Gains On Q1 Results
|
|
The first quarter was a busy one
for Insight Communications Company. The cabler transitioned its
cable modem customers to its own network, while posting revenue
in excess of the Street's expectations.
--May 10, 2002
|
|
CoSine
Makes Cuts To Conserve Cash
|
|
CoSine Communications Inc. is looking
to save some cash by cutting 45 percent of its work force.
--May 10, 2002
|
|
NTL
files reorganization plan
|
|
Well it is official; NTL Inc. has
filed its previously announced reorganization plan under the protective
blanket of Chapter 11.
--May 9, 2002
|
|
Nokia
calls for 3G-royalty cap
|
|
Looking to promote widespread deployment
of 3G technology, Nokia is calling on the wireless industry to
institute a fixed licensing fee for 3G patents.
--May 9, 2002
|
|
Adelphia
puts some assets on the chopping block
|
|
Beleaguered Adelphia Communications
Corp. is making a move to try and improve its financial situation
- the company is soliciting bids for cable systems that serve
half its subscriber base.
--May 9, 2002
|
|
Charter
turns to Convergys for billing services
|
|
Charter Communications Inc. has pumped
millions into its cable systems to enable the delivery of the
"triple play" - voice, video and data services. To ensure a smooth
operation, the MSO is turning to billing leader Convergys Corp.
to provide outsourced billing services.
--May 8, 2002
|
|
Liberty
to control the votes at OpenTV
|
|
MIH Limited is looking for a way
out of its interest in OpenTV, and Liberty Media Corp. is happy
to oblige. Liberty will fork over $185 million in cash and shares
to snatch up a controlling interest in the iTV technology provider.
--May 8, 2002
|
|
Tech
sector gains on Cisco's good news
|
|
In the words of Willy Wonka, "So
shines a good deed in a weary world." Cisco Systems offer of hope
for the tech sector could be considered a good deed by investors,
the news lifted the cloud of gloom that has been hanging over
tech stocks for several months.
--May 8, 2002
|
|
enScaler
snatches up Lariat
|
|
Although some may say it is a case
of a minnow swallowing the whale, enScaler Inc. sees its acquisition
of Lariat Software Inc. as a marriage of complementary technologies.
The combined company will offer the streaming media market the
whole enchilada: front-end, back-office and measuring capabilities.
--May 7, 2002
|
|
BellSouth
targets biz sector with expanded DSL services
|
|
With 80 percent of its DSL customers
coming from the residential market, BellSouth Corp. is looking
to beef up its business customer list with an expanded suite of
DSL services designed especially for the business sector.
--May 6, 2002
|
|
Banks
Approve NTL Rescue
|
|
NTL Inc. won't be unplugged. The
cable giant announced May 2 that its bankers have approved a debt-for-equity
swap agreed to last month that slashes the company's $17 billion
in debt.
--May 3, 2002
|
|
OnFiber
Acquires Sphera's Assets
|
|
In a deal designed to pump up monthly
revenue, OnFiber Communications Inc. is forking over $2.3 million
for bankrupt Sphera Optical Networks Inc.'s assets.
--May 3, 2002
|
|
The
Chips Were Up In March
|
|
After ringing in its highest monthly
sequential increase in sales since April 1996, things may finally
be turning around in the semiconductor sector.
--May 3, 2002
|
|
Unisphere
Zeros In On IP Router Biz
|
|
Spreading yourself too thin may lead
to mediocrity. Unisphere Networks Inc. is selling off its voice-switching
business to focus on IP routers, its core product line.
--May 3, 2002
|
|
Covad
Narrows Loss
|
|
After achieving what many believed
to be impossible -- emerging from Chapter 11 --Covad Communications
is eying the second half of 2003 to be cash flow positive.
--May 3, 2002
|
|
Corning
Lands $100 Million Contract
|
|
After reporting a dip in quarterly
sales and having its corporate rating slashed in the past week,
some good news is coming out of Corning Inc. today. The company
has inked a supply deal worth $100 million.
--May 2, 2002
|
|
Subscriber
Growth Curbs EchoStar Loss
|
|
Satellite powerhouse EchoStar Communications
Corp. saw its first quarter 2002 loss narrow, fueled partly by
strong subscriber growth and increased revenue.
--May 2, 2002
|
|
HSA
Winding Down
|
|
High Speed Access Corp., once a "turn-key"
provider of cable ISP services, and Charter Communications have
come to terms on a final purchase price adjustments in connection
with the sale of substantially all of HSA's assets to the MSO.
--May 2, 2002
|
|
Cisco
Buys To Boost IP/Ethernet Portfolio
|
|
Cisco Systems Inc. is augmenting
its IP aggregation portfolio via the acquisition of two privately
held companies: Billerica, Mass.-based Hammerhead Networks and
Plano, Texas-based Navarro Networks.
--May 1, 2002
|
|
Comcast
Gains On Q1 Revenue
|
|
Shares of Comcast Corp. were up 7
percent in mid-day trading action, following news that the MSO
topped Wall Street's revenue estimates in the first quarter.
--May 1, 2002
|
|
Analysts
Don't See Quick Fix For AOL
|
|
New York --- As AOL Time Warner's
stock price continues to slump, falling 3.6 percent Monday, analysts
are abuzz over what might light a fire under the share price in
the near future.
--April 30, 2002
|
|
Consumer
Groups Urge Rejection Of Comcast-AT&T
|
|
Nearly 40 consumer groups asked the
Federal Communications Commission on Monday to block Comcast Corp.'s
acquisition of AT&T Corp.'s broadband division. "Under any reasonable
interpretation of either the Communications Act or the antitrust
laws, this merger should be rejected," said the groups...
--April 30, 2002
|
|
Loss
Drags Down Qwest
|
|
Qwest Communications International
Inc.'s shares lost 6 percent of their value, falling to a new
52-week low, following news of a steep loss and a large write-down
for its KPNQwest venture.
--April 30, 2002
|
|
Ebbers
Walks From WorldCom
|
|
Turmoil has become part of everyday
life at WorldCom Inc., and the CEO has had his fill. Bernard Ebbers
is stepping down as CEO amid falling sales, tumbling shares and
an SEC probe
--April 30, 2002
|
|
Charter
Beats The Street
|
|
Investors have something to smile
about. Charter Communications Inc. beat analysts' consensus first-quarter
loss estimates by several cents. The news gave Charter's stock
a lift in early trading today.
--April 29, 2002
|
|
USA
Broadband Unites With Las Americas
|
|
Why go it alone, when you can have
a partner? USA Broadband Inc. and Las Americas Broadband Inc.
are subscribing to this sentiment. The companies have agreed to
combine their operations to strengthen their service offering
in California and Mexico.
--April 26, 2002
|
|
Charter
Signs Concurrent As Second VOD Source
|
|
Charter Communications has inked
a deal with Concurrent Computer Corp. as its second source for
video-on-demand servers and software.
--April 26, 2002
|
|
Report:
AOL Considers TWC Stake Sale
|
|
Just one day after posting a $54
billion loss in the first quarter, AOL Time Warner Inc. reportedly
is mulling an IPO for a minority stake in its Time Warner Cable
unit.
--April 26, 2002
|
|
S&P
Downgrades Corning
|
|
Ratings firm Standard & Poor's is
cutting Corning Inc.'s corporate and commercial paper ratings,
citing lack of recovery in Corning's core business until at least
2003.
--April 26, 2002
|
|
The
Grim Reaper Descends On JDS
|
|
JDS Uniphase Corp. is still struggling
to balance its books amid an ongoing spending slowdown. After
the market closed yesterday, the optical networking gear provider
posted a $4.3 billion net loss for the quarter ended March 30,
prompting more layoffs.
--April 26, 2002
|
|
Microsoft
TV Lays Off 60, Alters iTV Strategy
|
|
Microsoft Corp. officials confirmed
Wednesday that the company has laid off 60 staffers from its interactive
television division.
--April 25, 2002
|
|
Record
Loss For AOL Time Warner; Media Giant Down $ 54B For Quarter
|
|
AOL Time Warner Inc. yesterday posted
a $54.2-billion quarterly loss, a record for a U.S. company, reflecting
the lowered valuation of its megamerger and a continued plunge
in ad revenue at America Online.
--April 25, 2002
|
|
WorldCom
Profit Plummets
|
|
Falling victim to a slowdown in telecom
spending, lost e-business and competitive pricing pressures, WorldCom
Inc.'s year-over-year profit sank in the first quarter.
--April 25, 2002
|
|
Senators
Voice Skepticism Of Consumer Benefit In Proposed Comcast Merger
|
|
A panel of U.S. senators yesterday
voiced skepticism about Comcast Corp.'s proposed purchase of AT&T
Broadband and said they would need to be convinced the merger
would not harm consumers.
--April 24, 2002
|
|
Carnegie
Mellon, 3 Rivers Propose 'Affordable' Broadband Measures
|
|
Carnegie Mellon University researchers
and 3 Rivers Connect, a Pittsburgh-based non-profit, have launched
a joint venture to create an "affordable" broadband network for
the 12-county southwestern region of Pennsylvania.
--April 24, 2002
|
|
Sales
Slip At Ma Bell
|
|
For the fifth straight quarter, AT&T
Corp. watched its sales decline - and a lagging economy and continued
weakness in its long-distance consumer voice business are to blame.
Ma Bell says the second quarter also will be tough.
--April 24, 2002
|
|
Fiber-Optic
Cable Firm Corning Notes Quarterly Net Loss of $90 Million
|
|
STATE COLLEGE, Pa.--Corning Inc.
on Monday reported a 50 percent decline in revenue in the first
quarter, as the largest maker of fiber-optic cable braced itself
for plant closures and layoffs.
--April 23, 2002
|
|
AT&T
Broadband Inks ISP Deal
|
|
AT&T Broadband seals a multiple ISP
deal with NET1Plus, a regional provider that serves roughly 15,000
residential and business Internet customers in the New England
region.
--April 23, 2002
|
|
EarthLink
Plunges On Q1 Results
|
|
EarthLink Inc.'s shares lost nearly
17 percent of their value in early trading today, following news
that the ISP missed the Street's estimates.
--April 23, 2002
|
|
It's
Chapter 11 Time, Again
|
|
Following in the footsteps of rivals
Global Crossing Ltd., Flag Telecoms and 360networks, Williams
Communications Group Inc. is seeking Chapter 11 bankruptcy protection
from its creditors.
--April 23, 2002
|
|
Cox
Results Offer A Mixed Bag
|
|
Cox Communications Inc. posts revenue
growth in the just-ended first quarter, but net income sank.
--April 22, 2002
|
|
FCC
Delays EchoStar-Hughes Review
|
|
Federal regulators have been reviewing
the proposed EchoStar-Hughes Electronics merger with a fine-toothed
comb, but the FCC is putting on the brakes until further public
comment on the deal.
--April 22, 2002
|
|
WorldCom
Sinks To 52-Week Low
|
|
Following several lackluster financial
reports from telecom companies last week, many investors are frowning
on tech stocks today - the Nasdaq tumbled 42 points in mid-day
Eastern trading. Add fuel to the fire, is a revised forecast from
WorldCom Inc.
--April 22, 2002
|
|
Adelphia
Warns Of Possible Nasdaq Delisting
|
|
Adelphia Communications (www.adelphia.com),
under scrutiny for failing to report it had guaranteed $2.3 billion
in debts, said late Thursday that its stock may be subject to
delisting for failing to file its 10-K with the Security and Exchange
Commission in a timely manner...
--April 19, 2002
|
|
Nortel,
Qwest & BellSouth Dip On Forecasts
|
|
In early trading, the Nasdaq slipped
5.5 points. Not too shabby considering three telecom companies
- Nortel Networks, Qwest Communications International Inc. and
BellSouth Corp. offered little hope for the near future with lackluster
sales forecasts.
--April 19, 2002
|
|
Covad
Strikes T1 Deal With DSL.net
|
|
DSL.net Inc. is expanding its T1
service with help from Covad Communications Inc. and its several
hundred points of presence.
--April 18, 2002
|
|
Minority
Whip Says Tauzin-Dingell Has 'Opportunities' In Senate
|
|
Congress should take steps to encourage
broadband infrastructure deployment, but without implementing
tax credit regime, Senate Minority Whip Nickles said Thurs. at
Tax, Budget & Legislative Policy Seminar in Washington.
--April 18, 2002
|
|
McLeodUSA
Emerges From Chapter 11
|
|
Many have tried, but only a few have
succeeded. McLeodUSA Inc. joins a very short list of telecom companies
that have successfully escaped from the trenches of bankruptcy
protection proceedings.
--April 18, 2002
|
|
SBC
Faces Challenges
|
|
Despite posting strong DSL subscriber
growth, SBC Communications reported first-quarter net loss because
of acquisition related expenses. The company says meeting its
full-year revenue targets will be difficult.
--April 18, 2002
|
|
XO
Progresses With Lenders, Icahn
|
|
The lenders who provided XO Communications
Inc. with a $1 billion credit facility seem satisfied with the
broadband provider's restructuring talks, which are progressing
with investor Carl Icahn, the company said.
--April 17, 2002
|
|
More
Layoffs In The Cards At Tellabs
|
|
Tellabs Inc. watched its profits
continue to sink in the first quarter, and it will be forced to
cut another 1,200 jobs.
--April 17, 2002
|
|
SEC
Ups Adelphia Inquiry To Formal Probe
|
|
Adelphia Communications Corp.'s woes
continue. Yesterday the MSO delayed its 10-K filing, and today
the Securities and Exchange Co |
