Looking to save more than $10.2 million annually, webcasting and digital media service provider Loudeye Corp. is reducing its employee roster by 37 percent. The company has a goal of reaching operating cash flow breakeven by the end of the year, and said the cuts were necessary to stay on target. Once the restructuring is complete, the company expects to have 130 full-time employees in Seattle,...
Copyright 2002 Reed Elsevier Inc. Daily Variety…06/24/2002 From LexisNexis NEW YORK —Adelphia Communications Corp. is said to have lined up $1.5 billion in financing through a consortium of banks, much-needed cash that will keep its businesses operating while it restructures after a Chapter 11 filing expected today.
Copyright 2002 The Atlanta Constitution The Atlanta Journal and Constitution…06/24/2002 From LexisNexis WASHINGTON — For high-speed Internet users, a new lifestyle may be just a few clicks away. A study released today by the Pew Internet and American Life Project found that people changed their activities both on and off the computer when they acquired broadband service.
Looking to avoid following in the footsteps of two of its competitors, General Bandwidth is cutting a portion of its staff to conserve cash, the company confirmed today. General Bandwidth received an influx of funding in September, and has decided to reduce its staff in an effort to outlast the economic downturn, said Shannon Pleasant, General Bandwidth's director of corporate communications.
A month after David decided to take on Goliath, StarBand Communications Inc. is claiming victory in its lawsuit with EchoStar Communications Corp. On May 24, StarBand filed the lawsuit against EchoStar, claiming "EchoStar has not forwarded any of the millions of dollars in fees it has collected and is collecting as its billing agent.
Look out America Online, Microsoft Corp. is moving full-speed ahead with its broadband agenda. The latest: the software giant has forged a DSL partnership with Verizon Communications. The co-branded service, dubbed "Verizon Online with MSN," will be available to all MSN Broadband customers and Verizon Online DSL customers in the Verizon Online DSL service area.
Terayon Communications Systems Inc.'s shares were down more than 40 percent in early trading today, following news that the company more than halved its second-quarter outlook. The broadband networking gear provider slashed its Q2 revenue outlook to $21 million and $30 million, down from an earlier forecast of as much as $60 million.
Copyright 2002 Warren Publishing, Inc. Communications Daily…06/21/2002 From LexisNexis A former federal regulator said during an Internet conference Thursday that wireless LAN technology, or Wi-Fi, could solve broadband last-mile problems and lead to communications "nirvana," but only if the federal government didn't block its growth.
Copyright 2002 Knight Ridder/Tribune Business News Copyright 2002 The Press-Enterprise The Press-Enterprise…06/21/2002 From LexisNexis Communities served by Adelphia Communications Corp. probably won't have any service disruptions if the cable company is forced to declare bankruptcy, an attorney said Thursday.
Cable vet Steve Necessary has left the top post at PowerTV Inc. to join Concurrent Computer Corp. as president of the company's "Xstreme" video-on-demand division. Necessary will report to Concurrent President and CEO Jack Bryant, who had been the acting president of Xtreme since he joined the company in Oct.
DSL carrier Covad Communications is looking to lasso a few dial-up customers who are on the fence about switching to broadband, with a reduced price service offering. The service, dubbed TeleSurfer Link, is being offered nationwide to new customers at an introductory price of $21.95 a month — after four months of service, the price will be pumped up to $39.
SureWest Communications is making a move to become the dominant communications provider in the Sacramento area. The company will plunk down $12 million for the assets of bankrupt overbuilder WINfirst. SureWest has facilities near the WINfirst network in Northern California. It operates multiple telecommunications businesses, the largest being subsidiary Roseville Telephone Company, California's...
CableLabs said it handed out passing grades to eight cable modems and nine cable modem termination systems for the complex DOCSIS 1.1 specification following certification wave 22. With those additional stamps of approval, CableLabs has certified a total of 32 modems for DOCSIS 1.1, a specification that adds quality of service and other elements that underlie cable's forthcoming PacketCable pla...
Networking gear maker Sycamore Networks Inc. is looking to weather the economic telecom storm by cutting staff, consolidating facilities and dumping the development of its standalone transport systems. Sycamore expects to incur fourth-quarter charges of as much as $55 million for its restructuring efforts.
Beleaguered Adelphia Communications Corp. inched closer to a bankruptcy filing, after it failed to make roughly $30 million in interest and dividend payments due June 17. Adelphia said it missed an interest payment of more than $23.4 million on 9-3/8 percent senior notes due on Nov. 15, 2009. Earlier this week, the company said it missed a $52.