A new goodwill accounting rule lead Liberty Media Corp. to a large loss in the first quarter, the company said in its 10-Q filing with the SEC. Liberty Media posted a loss of $1.47 billion, or 57 cents a share for the quarter ended March 31. The loss included a charge of $1.78 billion related to a new accounting rule.
Metro networker Riverstone Networks Inc. has inked a deal with KT Corp. to supply routers for a metro core network in South Korea. In terms of broadband penetration, South Korea continues to lead the race. According to recent analysts' findings, the country has more than 55 percent penetration. KT, formerly Korea Telecom, is leading the pack with more than 20 million subscribers.
Time Warner Cable is upping its video-on-demand service area to 16 markets. The latest: a planned service rollout in Binghamton, N.Y. this summer. SeaChange International Inc.'s video servers and software are fueling the service. The MSO serves approximately 150,000 basic customers in the Binghamton market, and plans to offer its iCONTROL VOD service to its digital subscribers in the coming mon...
Beleaguered Adelphia Communications Corp. is warning vendors that it has no plans to place new orders for products in the near future. The news leaves ARRIS no choice but to lower its second quarter guidance. Last month, ARRIS posted a 4 percent sequential gain in revenue of $191.6 million in the first quarter.
Ratings firm Standard & Poor 's took action against Qwest Communications International Inc. yesterday, downgrading its corporate credit rating to "junk" status. The communications company contends the action will have no affect. S&P cut Qwest's corporate credit rating BBB- to BB+ — or junk status.
Graphics chipmaker Nvidia topped analysts' expectations by a penny, while fiber-optic maker Ciena Corp. posted a wider second-quarter loss. Nvidia Nvidia's first-quarter revenue reached $582.9 million. In Q1 2002, the company reported earnings of $26.7 million, or 16 cents a share, on revenue of about $240.
Just because someone lives in the rural area of Southwestern North Dakota does not mean a high-speed Internet connection is out of the question. Consolidated Telecom is turning to Vyyo Inc. to enable the delivery of high-speed wireless access to three North Dakota cities. Consolidated will deploy three of Vyyo's MMDS super cells to bring broadband access to its rural customers in Dickinson, Scr...
Scientific-Atlanta will explore telephony options with Integra5 Communications. Up first: the addition of a caller ID function to its Explorer set-top box. The application will enable cable subscribers to view caller ID information on their television screen. S-A contends that cable operators must offer the triple play — voice, video and data — to effectively compete with satellite ...
WorldCom Inc. has been plagued by a slowdown in consumer spending, a lagging long-distance market and questions from the Securities and Exchange Commission about some of its accounting practices. But the company finally gave investors something to smile about after it announced plans to eliminate its tracking stock structure.
Looking to beef up its broadband business, Nokia Corp. is teaming with Redback Networks. The deal calls for Nokia to take a 10 percent stake in the networking gear provider. Nokia says the partnership is an extension of an existing relationship and will include global distribution of wireless intelligent edge and broadband access products.
Copyright 2002 / Los Angeles Times Los Angeles Times…05/22/2002 From LexisNexis Cable TV operator Adelphia Communications Corp. asked banks for more time and the ability to approach other lenders to line up credit it needs to make debt payments and avoid bankruptcy, people familiar with the matter said.
Copyright 2002 Knight Ridder/Tribune Business News Copyright 2002 The Sacramento Bee Sacramento Bee…05/22/2002 From LexisNexis Creditors of beleaguered WINfirst have agreed not to seek the liquidation of the cable and telephone company as progress is being made in finding a buyer. WINfirst President Frank Casazza said Tuesday that in a hearing in Denver on Monday creditors withdrew their ...
When a major customer seems to be on the verge of spinning out of control, there is no way for a company to avoid getting caught in its path. C-COR.net Inc. does not expect to get any revenue, at least in the near-term, from Adelphia Communications Corp., and as a result is lowering its fourth quarter outlook.
Cash-strapped video-on-demand vendor Diva Systems laid off another 20 percent of its staff last week as part of an ongoing effort to trim expenses and streamline operations, a company official said Tuesday. The latest cuts, which affected approximately 30 Diva employees, follow another 20 percent layoff executed in mid-April, when the company handed pink slips to about 40 staffers.
Every dollar at a small business is a precious commodity, and 3Com Corp. is marketing its OfficeConnect Wireless Cable/DSL Gateway with this in mind. "With the combination of wireless and DSL or cable, small businesses can cut costs by sharing a single broadband connection and avoiding the high cost of laying cable," 3Com's Small Business Division Vice President Kathy Rocha said in a statement.