Broadband Briefs for 3/08/10
• Targusinfo powers CTAM’s Cable Mover Hotline
By Mike Robuck
Today, the Cable & Telecommunications Association for Marketing announced that Targusinfo would provision its Cable Mover Hotline service.
CTAM created the Cable Mover Hotline in 2003 at the behest of its cable company members that wanted to keep their customers after they moved. The hotline enables consumers to be connected directly to their new providers to inquire about cable service and set up an installation date. The service is used by the 18 largest cable companies in the nation that serve approximately 121 million homes.
“Since 2003, the hotline has received millions of calls from cable customers looking for a quick and easy way to find new cable services when they move,” said CTAM senior vice president Seth Morrison. “With the Targusinfo partnership, we are pleased to deliver the same dependable service and to provide our members more insight into who is interacting with their companies.”
• Imagine hires cable veterans Stankosh, Cotter
By CED staff
Imagine Communications has named Bob Stankosh and Brian Cotter as vice president of sales for North America and regional vice president of sales, respectively.
Prior to joining Imagine, Stankosh was regional vice president of sales at Xavient Information Systems, an IT consulting firm. Before that, Stankosh was regional vice president of sales for BigBand Networks, where he played a role in one of the first switched digital video deployments.
Cotter has 15 years of sales experience in the North American operator market. He was previously at NXP Semiconductors, where he served as director of operator sales and spearheaded the satellite initiative for NXP to increase market share at the major satellite set-top box OEMs. Before NXP, Cotter held sales and business development positions with Pace, EGT, Pioneer and Motorola.
• Ciena to sell bonds to raise money for Nortel purchase
By Mike Robuck
Ciena announced this morning that it plans on selling $250 million in notes convertible to stock to help pay for the acquisition of Nortel Networks’ Metro Ethernet Networks unit.
Ciena said it would use approximately $243.8 million of the net proceeds from the private bond sale instead of $239 million in bonds that would have been sold directly to Nortel as part of the deal for the Ethernet assets. The bonds that were announced today are due in 2015 instead of 2017 for the bonds that were previously going to be sold to Nortel.
Ciena’s deal with Nortel is expected to close sometime before April 30. If there are any remaining proceeds from the bond sale, Ciena said it would use them to reduce the $530 million in cash it’s slated to pay at the Nortel closing.
• AT&T workers in Southeast ratify union contract
By The Associated Press
DALLAS (AP) – AT&T Inc. said Friday that its employees approved a new three-year contract covering about 30,000 workers in the Southeast.
The new pact calls for pay and pension increases over the next three years and cash payments tied to the company's financial performance, but also higher health care premiums.
The deal covers workers in the Communications Workers of America's District 3, which includes Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee.