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. The $88 million deal calls for McLeodUSA to sell its non-core ILEC operations in South Dakota, certain overbuild CLEC and cable television operations in South Dakota, southwester...
Copyright 2002 The Deal L.L.C. The Daily Deal…05/16/2002 From LexisNexis 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. In its quarterly report filed earlier this week, the Reston, Va.
For the vast number of small-scale operators out there, the road to digital is too cost-prohibitive. Many of these operators are channel-locked, and to add digital means shelling out shrinking capital for costly headend upgrades. But a new programming delivery and back office support system just announced from WSNet aims to help this cost-constrained set of operators get there without going ban...
The voice-over-DSL equipment market is expected to generate $646 million in revenue by 2004, according to RHK Consulting. And, Paradyne Networks is looking to snatch up a big piece of that pie with the acquisition of Jetstream's assets and intellectual property. On Friday, April 12, Jetstream ceased operations, saying the financial climate in the telecommunications industry forced the shutdown.
The hits keep coming at Adelphia Communications Corp. The day after founder, chairman and CEO John Rigas resigned, his son, Timothy, stepped down as executive vice president and chief financial office, chief accounting office and treasurer. Adelphia added that a special committee of the board consisting of three independent directors will conduct an investigation of accounting issues surroundin...
High Speed Access Corp. said Nasdaq notified the company that it intends to delist HSA's common stock on May 21. HSA, which is appealing the decision, said it received notice on Monday, May 13. In the notice, Nasdaq said HSA has not owned or managed any revenue-generating business since Feb. 28, when HSA closed the sale of substantially of its assets to Charter Communications for about $81.
For sale … an extensive, yet only partially completed rich fiber network in the city of Sacramento. Buyer beware, though, as city residents have expressed a certain level of disdain for former owner. The bankruptcy saga of competitive overbuilder WINfirst continues, and potential buyers for the WIN fiber network are going public.
Residential gateways and home networking may just be finding their way into consumer consciousness, but there already is a long list of home networking communications protocols. Bringing all of these disparate home networking standards and initiatives together is the mission of OSGi, or Open Services Gateway Initiative.
Add Agilent to the list of OSS providers addressing service assurance. The company has introduced an assurance software suite, which can integrate with legacy OSS systems and interconnect with management functions like service fulfillment as well. Ideally, the suite aims to fill provider's needs to manage new hybrid IP technologies and broadband infrastructures.
Qwest Communications International Inc. has won a deal to serve as the primary backbone provider for the Advanced Technology Demonstration Network (ATDnet), an unclassified Department of Defense (DoD) research grid used to develop next-generation communications technologies. Qwest won the contract in partnership with the Mid-Atlantic Crossroad (MAX), a part of the University of Maryland at Coll...
SBC Communications Inc. is paring its workforce once again in response to the lagging economy and stringent regulatory requirements. The company plans to cut 5,000 jobs during the second quarter. In the past two quarters, SBC reduced its employee roster by 10,000, and announced plans last month to cut 4,000 jobs over the last three quarters of 2002.
Troubled MSO Adelphia Communications said Wednesday that cable veteran John Rigas has resigned as chairman and CEO of the company, and will be succeeded by independent director Erland Kailbourne. Kailbourne, the former chairman and CEO of Fleet National Bank's New York region, was an independent director of Adelphia since 1999, and presently is chairman of the MSO board's audit committee.
After falling from grace and relinquishing its crown as the ruler of peer-to-peer online music file swapping, Napster Inc. is having a harder time trying to go legit than it expected. The latest: a deal to be acquired by Bertelsmann AG has fallen through and Napster CEO Konrad Hilbers is walking away from the company.
IPWireless Inc. has sealed a manufacturing and distribution partnership with Axcera to accelerate the worldwide deployment of IPWireless' 3G broadband wireless system. Under the terms, Axcera will be a certified systems integrator and manufacturer of the IPWireless Advanced 3G Broadband system. Axcera will offer the product to its customers under the brand name Axity3G Broadband.
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. One share of Agere Class A common stock will be issued for every 92.768991 shares of Lucent common stock, and one share of Agere Class B common stock will be issued for every 3.