Liberate Technologies Inc. has posted a narrower year-over-year quarterly loss, which is in line with the Street's expectations. The interactive TV platform provider posted a net loss of $68.5 million, or 64 cents a share, down from a net loss of $79.5 million, or 76 cents a share, in the comparable period a year earlier.
Just two months after forming, the High Definition Multimedia Interface (HDMI) group has unveiled a draft of its next-generation digital interface for consumer electronics specification. The HDMI format is a single, high-speed connection designed to carry full-bandwidth digital video and audio from set-top boxes to TV sets.
In less than three years, carrier network-neutral co-location company MeridianTelesis is ready for the national stage. Earlier this month, the company inked a deal with Broadwing to take over operational control of Broadwing's facilities in New York, N.Y.; Dallas; and Santa Clara, Calif. Although financial terms were not disclosed, MeridianTelesis Founder and President David Taffet tells CED Br...
Nortel Networks has inked a $18.5 million deal to assist Edge Wireless LLC with its network upgrades in the western United States. The deal expands the companies' existing relationship. Under the terms of the three-year deal, Nortel has been named Edge's provider of GSM/GPRS (global systems for mobile communications and general packet radio service) wireless infrastructure upgrades for its exis...
Copyright 2002 Knight Ridder/Tribune Business News Copyright 2002 The Washington Times The Washington Times…06/28/2002 From LexisNexis The House Financial Services Committee planned to issue subpoenas yesterday for three current and former WorldCom Inc. officials and an investment banker to appear at a July 8 hearing on the company's disclosure that it hid $3.
While much of the economic industry is still spinning from WorldCom Inc.'s announcement that it misreported nearly $4 billion in expenses, the government has been swift to take action. After hearing the news, President George W. Bush vowed that the matter would be "fully" investigated. "There is a need for a renewed corporate responsibility in America," he said.
Voice over IP service provider Net2Phone Inc. and Puerto Rico's Liberty Cablevision have launched a managed IP telephone service test, marking the first managed end-to-end IP telephony service over broadband networks, the companies claim. The first call was placed yesterday by Net2Phone Chairman Howard Jonas in Luquillio, Puerto Rico to Liberty Media Chairman John Malone in the United States.
According to industry research, there are roughly 22.4 million small businesses in the United States, and BellSouth Corp. wants a bigger piece of the market. The company has expanded its data service portfolio to retain and attract more customers in this sector. BellSouth has renewed its commitment to the small business sector, and as part of that commitment, the company has rolled out new secu...
Comcast Corp. has announced it will be calling up Internet Protocol telephony service in its hometown of Philadelphia in mid 2003. It is the first voice-over IP deployment for the Philadelphia-based MSO, which already has 40,000 circuit-switched telephony customers in Michigan and Virginia. For the Philadelphia service, Comcast will use a voice-over-IP system powered by Arris Group Inc.
Motorola Inc. still has its eye on returning to profitability this year, and is taking additional steps to make sure that happens. The latest: the company is cutting another 7,000 jobs. The 7,000 positions will be eliminated across the company's business segments and corporate headquarters. Earlier this month, the company reaffirmed its guidance for the second quarter, and it is sticking with t...
Copyright 2002 Knight Ridder/Tribune Business News Copyright 2002 Saint Paul Pioneer Press Saint Paul Pioneer Press…06/27/2002 From LexisNexis Qwest Communications International Inc. shares fell $2.40 — 57 percent — to close at $1.79 Wednesday as the company was hit with a staggering one-two punch.
Copyright 2002 King Communications Group Space & Missile…06/27/2002 From LexisNexis Freedomland ITN and Alenia Spazio signed an agreement June 20 to build a satellite service center that will allow Freedomland to offer interactive satellite services. Under the contract, Freedomland will invest in the construction of a satellite service center at its office in Milan.
In the immortal words of Ricky Ricardo, "(WorldCom) you got a lot of 'splainin' to do!" WorldCom Inc. has admitted that it overstated nearly $4 billion in expenses, raising fears that it may be the latest telecom giant to file for bankruptcy. The company says it will restate its financial statements for 2001 and the first quarter 2002 after an internal audit revealed the company had reported $3.
After weeks of speculation, beleaguered Adelphia Communications Corp. has finally sought shelter from the economic telecom storm under the protective shroud of a Chapter 11 filing. Adelphia confirmed late Tuesday that it and 200 of its subsidiaries had filed for bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York.
Last-mile telecom service provider Always On Network targets underserved markets to deploy broadband, and has turned to SOMA Networks to bring high-speed Internet access to Klamath County, Oregon. Using SOMA's Amosphere broadband wireless system, Always On Network will deliver high-speed Internet access to the residents and businesses in the county beginning next month.