What goes up must come down. Just two days ago, investors seemed almost giddy following Cisco Systems quarterly results — the Nasdaq spike roughly 100 points. Today, however, the Nasdaq dipped slightly in mid-day trading action. News of two rating agencies cutting WorldCom Inc.'s debt rating to "junk" status helped fuel the slide.
Looking to promote widespread deployment of 3G technology, Nokia is calling on the wireless industry to institute a fixed licensing fee for 3G patents. Usually royalties are charged as a percentage of a piece of equipment's sale price. Nokia, which claims to own the most WCDMA patents, is calling on registered WDMA patent holders to limit their cumulative royalty rates for 3G technology to 5 pe...
Well it is official; NTL Inc. has filed its previously announced reorganization plan under the protective blanket of Chapter 11. The reorganization plan is based on an agreement with bondholders to swap $10.6 billion in debt into equity in two reorganized companies - NTL UK and Ireland and NTL Euroco.
Beleaguered Adelphia Communications Corp. is making a move to try and improve its financial situation - the company is soliciting bids for cable systems that serve half its subscriber base. The systems that are up for sale serve roughly 2.7 million subscribers. The specific systems being put on the block include systems in Southern California (1.
A CableLabs official confirmed Thursday that Charter Communications Inc. notified the R&D consortium on April 4 that the MSO could withdraw its membership in three years. CED sister publication Multichannel News reported the development earlier this morning on its Web site and in its subscription-based daily, Multichannel News Day.
Fixed wireless broadband equipment provider SPEEDCOM Wireless Corp. snags a $1 million secured loan. The company intends to use the funds to accelerate the launch of its SPEEDLAN 9000 products, a line of wireless Ethernet routers. The SPEEDLAN 9000 provides a platform that enables the user to choose between mesh, star, or a point-to-point deployment.
Overbuilder RCN Corp. has unveiled "RCN Essentials," a new family of bundled services designed to play up the company's core offerings and to lure more subscribers. For a flat fee ranging from $85 to $93 per month, the Essentials package is comprised of RCN's basic video package and one set-top, one phone-line with unlimited local calling and high-speed data service with the cable modem included.
The National Cable & Telecommunications Association (NCTA) said Wednesday that Insight Communications President and CEO Michael Willner was re-elected for a second term as chairman of NCTA's board of directors. Time Warner Cable Chairman and CEO Glenn Britt was elected vice chairman, and Adelphia Communications CEO and President John Rigas and Comcast Corp.
In the words of Willy Wonka, "So shines a good deed in a weary world." Cisco Systems offer of hope for the tech sector could be considered a good deed by investors, the news lifted the cloud of gloom that has been hanging over tech stocks for several months. The telecom equipment maker's third-quarter profit exceeded forecasts, sending not only Cisco's stock up, up, up, but the Nasdaq combined ...
MIH Limited is looking for a way out of its interest in OpenTV, and Liberty Media Corp. is happy to oblige. Liberty will fork over $185 million in cash and shares to snatch up a controlling interest in the iTV technology provider. Under the terms of the deal, Liberty Media will acquire 365,460 Class A ordinary shares and 30.
Look out Jakarta, here comes high-speed wireless. Nortel Networks is being contracted by an Indonesian fixed wireless operator to build a CMDA2000 1X third-generation fixed wireless network. Nortel's CDMA2000 1X wireless technology will be used to connect customers to the public switched telephone network.
Charter Communications Inc. has pumped millions into its cable systems to enable the delivery of the "triple play" - voice, video and data services. To ensure a smooth operation, the MSO is turning to billing leader Convergys Corp. to provide outsourced billing services. Charter will rely on Convergys' ICOMS customer care and billing product to support the bundling of digital video, cable modem...
U.S. Representatives approved by voice vote Tuesday evening a bipartisan measure aimed at delaying the 700 MHz spectrum auction for the sixth time. The Senate has a similar measure on the table. The legislators, large carriers and CTIA all back the bill despite a current federal law requiring that the government sell license by September.
Day 3: A wave of companies will be showcasing their products and technologies this week at NCTA 2002 in New Orleans. The CED Magazine staff will bring you the latest news and product information each day live from the show. Below is a glimpse of what's happening at the show, but for complete show coverage visit: www.
Copyright 2002 Knight Ridder/Tribune News Service Knight Ridder/Tribune News Service …05/08/2002 From LexisNexis NEW ORLEANS - Federal Communications Commission Chairman Michael Powell sought Tuesday to clear up what he said was an inaccurate public perception of his agency's increasingly less strict treatment of media and telecommunications firms.