In a cash and stock deal, Globespan Virata has sold its MPEG video and audio compression and decompression product business to Conexant Systems Inc. The sale is part of the DSL equipment provider's divestiture strategy. For its part, Conexant will fork over $21 million in cash and 1.25 million shares of common stock.
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.
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.
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,...
Building on its three-year relationship with Motorola Inc., WorldGate Communications Inc. has signed a multi-year deal with Motorola's Horizon Developer Program. As part of this latest deal, Motorola and WorldGate will continue to work together to develop WorldGate's interactive television service on Motorola's advanced digital set-top boxes, including the DCT1000, DCT2000, DCT2500 and the DCT5...
MSOs are increasingly interested in developing strategies for offering broadband connections to small- and medium-sized businesses that fall into their network footprints. Access technologies are currently being trialed in MSO labs, and a new strategic alliance between platform provider Narad Networks and IBM Corp.
Gemstar-TV Guide International Inc. has been on the warpath for some time now, claiming that its patent is being infringed on. The interactive programming guide developer suffered a setback late Friday, however, when a judge ruled against it. An International Trade Commission judge has ruled that Gemstar competitors did not engage in unfair trade practices with regards to Gemstar's patented IPGs.
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.
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.
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.
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.
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.
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.