With Adelphia Communications Corp. missing a bond interest payment yesterday, the idea that the MSO will file for bankruptcy is gaining momentum. Yesterday, the company missed a $51.3 million interest payment on its 10-1/4 percent senior notes due Nov. 15, 2009. Earlier this month, Moody's Investors Service said Adelphia seeking protection from its creditors was "potentially imminent.
Less than a month after the music industry filed a lawsuit against a Napster-like clone, the case has been settled. Although specifics of the settlement remain confidential, peer-to-peer filing sharing service Audiogalaxy has agreed to pay the Recording Industry Association of America and the National Music Publishers Association a "substantial sum based on Audiogalaxy's assets.
Copyright 2002 The Deal L.L.C. The Daily Deal…06/18/2002 From LexisNexis Even without Joseph Nacchio as a lightning rod for allegations of misleading accounting and excessive capital spending, the many problems at Qwest Communications International Inc. make the company an unlikely takeover target, industry observers say.
Copyright 2002 The Deal L.L.C. The Daily Deal…06/18/2002 From LexisNexis LONDON - It looks like John Malone may have another battle in Britain. The acquisitive Colorado cable tycoon, who recently failed in his grab for a piece of Britain's largest cable operator, NTL Inc., has now been rebuffed by bondholders at smaller NTL rival Telewest Communications plc.
After financial struggles, downgraded ratings and an SEC probe, Joseph Nacchio has resigned his post as Qwest Communications International Inc.'s head honcho. Although Qwest deems Nacchio's resignation as voluntary, it is has been reported that the board of directors nudged him out. Nacchio has been in the hotseat for months now.
Not that it should come as a big surprise, but XO Communications Inc. has filed for bankruptcy under the protective blanket of Chapter 11. Along with the filing, the broadband service provider has submitted a two-pronged reorganization plan. The bankruptcy filing, submitted in the U.S. Bankruptcy Court for the Southern District of New York, is limited to parent company XO Communications, and wi...
Looking to accelerate the adoption of DOCSIS 2.0, Imedia Semiconductor Corp. and DAQTron Inc. are teaming to develop automated testing equipment systems for the latest CableLabs' spec. The test systems jointly developed by the silicon vendor and the broadband test systems company will enable DOCSIS 2.
Movie-goers may look forward to windfall of summer blockbusters, but corporate IT directors may only view them as bandwidth drains. Streaming media Web sites, which include online movie trailers, are on the rise, up 412 percent in the last 12 months, according to new research from Websense Inc., an employee management solution provider.
Copyright 2002 Gannett Company, Inc. USA TODAY…06/17/2002 From LexisNexis NEW YORK — Scandal-plagued Adelphia Communications Corp. hung out more dirty laundry in a Securities and Exchange Commission filing late Friday. The No. 6 cable operator, widely believed to be on the verge of filing for bankruptcy protection, disclosed that: • On June 9, audit firm Deloitte & Touche ...
Copyright 2002 The Deal L.L.C. The Daily Deal…06/17/2002 From LexisNexis White Plains, NY-based Sandbridge Technologies, a developer of so-called "software defined radio" chipsets designed to allow handheld devices such as cell phones to easily shift between various transmission modes, including 3G and WiFi, has raised $14 million in a first round of funding.
Another VoIP company has been kicked to the curb — TollBridge Technologies has ceased operations. According to a company spokesman, TollBridge was unable to secure funding, but it is unclear what will happen next. Bankruptcy? An asset sale? More than likely, the answer to both is yes. In June of last year, the company said it had secured $22 million in funding, but now needed another infl...
The American Cable Association is continuing its fight to defeat the proposed EchoStar Communications-DirecTV merger. In a letter to the FCC, the faction claims EchoStar's notion that DBS is at a competitive disadvantage to cable systems is hogwash. The ACA is trying to rebuff statements made by EchoStar and DirecTV recently to the FCC that the merger would help level the playing field in the c...
In what was most likely music to the tech industry's ears, President George W. Bush said "this country must be aggressive about the expansion of broadband, we have to." In a speech to high-tech executives yesterday, Bush said the country should commit to deploying high-speed Internet access more rapidly, although he did not outline a specific plan to make this happen.
Cramer Systems has partnered with Cisco Systems Inc. to enable automated, low-cost provisioning of xDSL services over Cisco-powered networks. The companies have integrated Cramer's network inventory and provisioning automation solution with Cisco's CNS Configuration Engine network activation platform.
The hits just keep on coming at Metromedia Fiber Network. As if defaulting on bank loans, being delisted from the Nasdaq and filing for bankruptcy wasn't enough, now the embattled company is being formally investigated by the Securities and Exchange Commission. The probe surrounds past accounting practices that led to the restatement of MFN's operating results for the first three quarters of 2001.