Moody's Investors Service has downgraded beleaguered Adelphia Communications Corp.'s credit ratings for the third time in less than three months. The ratings firm says a bankruptcy filing is "potentially imminent." Adelphia's unsecured debt — roughly $4.9 billion — has been cut from Caa1 to Caa2, while its convertible and exchangeable preferred stock — roughly $1.
Copyright 2002 Knight Ridder/Tribune News Service Knight Ridder/Tribune News Service San Jose Mercury News…06/05/2002 From LexisNexis An influential group of technology companies, consumer electronics manufacturers and motion-picture studios recommended a new standard Wednesday to prevent digital television broadcasts from being spread over the Internet.
Copyright 2002 Knight Ridder/Tribune News Service Knight Ridder/Tribune News Service The Dallas Morning News…06/05/2002 From LexisNexis ATLANTA — The precipitous fall in phone and Internet service prices during the last few years has been so steep it's jeopardizing the financial viability of many telecommunications companies, said Verizon Communications Inc.
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.
AM Communications Inc. has snatched up one of its competitors Nex-Link Communications Project Services LLC. AM plans to roll the broadband network installer into its AM Broadband Services Inc. subsidiary. Once the merger is complete, Nex-Link will become a wholly owned subsidiary of AM Broadband Services and will operate under the name AM Nex-Link Communications Inc.
Right now adult content sites are fueling the video-on-demand-over-IP market, but family-oriented VOD services are gaining ground, one analysis says. The VOD-over-IP market is expected to balloon to a $1.9 billion industry by 2006, according to In-Stat/MDR. The revenue will be generated from subscriptions and pay-per-view.
Gateway Inc. has lassoed another broadband partner. Consumers interested in signing up for EarthLink Inc.'s high-speed Internet service can now mosey on over to their nearest Gateway Country Store. Under the agreement, EarthLink will market its EarthLink High Speed Internet service over Time Warner Cable to consumers in 56 Gateway retail stores in 14 states.
comMATCH and Vyyo Inc. have partnered to enable wireless service providers to complete with wire-line carriers in the IP telephony sector. The telephony over fixed broadband wireless system is based on comMATCH's Duet VoIP gateway designed to interconnect the fixed broadband wireless IP access network to legacy Class 5 telephony switches.
Copyright 2002 Sun Media Corporation The Ottawa Sun…06/04/2002 From LexisNexis Nortel Networks plans to raise $800 million through the sale of equity, the telecom equipment maker announced yesterday after markets closed. Nortel said it would use the proceeds from the equity offering for general corporate purposes or to invest in its subsidiary companies.
Copyright 2002 The Deal L.L.C. The Daily Deal…06/04/2002 From LexisNexis 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.
Looking to boost its presence in the voice over IP sector, Universal Broadband Communications has snagged Universal Information Systems for an undisclosed amount. Under the terms, Universal Broadband will acquire UIS's base of roughly 10,000 prepaid customers and the company's switching network — an Excel switch in Los Angeles and a Cisco 5300 router in Tehran, Iran.
Since Microsoft Corp.'s UltimateTV interactive television service was not embraced by the public as quickly as it had hoped, the software giant is taking another tact. Microsoft is rolling out a low-cost, watered-down service that will give subscribers access to the Net via their TVs for as little as $9.
Charter Communications Inc. is not letting the Diva Systems bankruptcy filing slow down its video-on-demand push, the MSO has signed up nCUBE Corp. as one of its VOD equipment vendors. As part of the deal, Charter has installed nCUBE equipment in six markets, including Birmingham, Ala.; Fort Worth, Texas; Newtown, Conn.
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.
This technology without a cause desperately needs one Copyright 2002 Penton/IPC Industry Week…06/01/2002 From LexisNexis If ever there was a technology that was a few light-years before its time, it's broadband. Broadband, in case your eyes glazed over at the mere mention of the word, generally refers to a faster Internet connection.