LodgeNet Entertainment Corp. extended its five-year contract with La Quinta, and will provide the technology to upgrade the hotel chain's interactive digital TV services. Under the deal, Lodgenet will upgrade 40,000 rooms around the country to allow such services as on-demand digital music and music videos, pay-per-view TV content, and archived programming.
Motorola Inc. reported a $232 million net loss, or 11 cents a share, in its second-quarter results. It also said it expects a loss of "several cents a share" in its third-quarter, on a 5 percent sales increase, with a slight profit in fourth quarter. Its Broadband Communications Segment saw Q2 orders fall 16 percent from a year ago, to $760 million.
Cisco Systems Inc. will acquire San Jose-based AuroraNetics Inc. in a $150 million stock transaction. AuroraNetics makes 10 Gbps silicon technology for metro fiber networks. Cisco will trade $150 million in its common stock for all outstanding shares of year-old AuroraNetics, it says. The deal has been approved by both boards of directors and will close in Cisco's first quarter of 2002.
Cabletron Systems will finish its spinoff of its Riverstone subsidiary and will launch Enterasys Networks as an independent public company. Both are slated for Aug. 6, when Cabletron Systems will be shut down and no longer trade. Cabletron, a holding company for networking and telecom firms, announced the four-way split in February 2000.
OpenTV and BigBand Networks will jointly market a combined technology that lets cable operators insert ITV content at master or local headends. The two combined OpenTV's OpenStreamer and middleware software with BigBand's Broadband Multimedia-Service Router, which they note is a "new class of router based on NativeMedia architecture," that routes and integrates video, audio and data in native f...
TiVo Inc. affirmed its guidance for its second quarter and full year 2002, and said it intends to reach breakeven cash flow by the end of its next fiscal year. It also says it anticipates in 2003 about 85 percent growth in its subscriber base and expects revenue to triple over 2002. The company cites its recently awarded PVR patents and subsequent licenses as a big player in the revenue jump.
Corning Inc. will close three manufacturing plants and cut 1,000 jobs to cut costs in its Photonic Technologies unit. The company also plans a $5.1 billion pre-tax charge in its second quarter, and announced it is discontinuing dividend payments on its common stock. Corning says it will include the costs of the closures and layoffs in its third-quarter results.
Antec released its LightLink Patchfinder, a fiber optic jumper that helps trace and identify critical circuits. The product has a metallic circuit that connects LED indicators on each end of a premium-grade fiber jumper. When the module is connected, both terminations are identified by the LEDs, Antec says.
Alcatel is cutting 2,500 jobs and closing more plants in the United States as part of its cost-management plan, the company says in a terse announcement. The company will cut 800 jobs in its Plano, Texas, headquarters; 700 in Raleigh, N.C.; 100 in Chantilly, Va.; and the rest across the United States, says spokesman Brian Murphy.
Scientific-Atlanta Inc. released its Compact Dual C amplifier, intended to help cable operators in Central Europe upgrade existing networks for ITV. It targets cable operators who want to make network upgrades from 450 MHz to 862 MHz, the company says. The amplifier allows reuse of existing networks since it doesn't require replacing taps and splitters, it says.
Winstar gets final DIP OK; starts employee retention program A bankruptcy court gave final approval to increase availability of Winstar Communications Inc.'s DIP financing to $225 million, the company says. About $175 million is "syndicated" to Winstar's bank group. That and other funding from several of its telecom services providers means Winstar will have the liquidity it needs to finance op...
NTL Inc. and Telewest will co-market broadband services throughout Britain. As two key cable companies in the country, they aim to accelerate broadband Internet acceptance in the U.K. and Ireland, they say. The two say broadband cable is available in 9 million homes, covering 37 percent of the two countries.
An industry consortium that includes Alcatel, Corning Inc. and Optical Solutions have formed the Fiber-to-the-Home Council, it was announced today. The aim is to educate, and promote and accelerate deployment of the technology in North America, the council says. Members come from such industries as telecom, computing, networking, system integration and content-provision.
C-COR.net made its second acquisition in five days when it purchased the assets of ADC's Broadband Communications Division for $32 million in cash. The assets include ADC's Optiworx line of transport products for hybrid fiber/coax and the DV 6000/6400 line of uncompressed digital video products. C-COR.
Corning Inc. says it initiated action against Lannion, France-based HighWave Optical Technologies, alleging patent infringement. The company started the process in a Federal District Court. HighWave issued a statement today that says it learned of the complaint from published press reports and that it can't comment without more details.