AOL Time Warner Inc. reports restructuring costs of nearly $1 billion, including $565 million in workforce reductions and termination benefits. Part of the costs also included $400 million in lease and contract-termination costs, it said in an SEC filing. The company held its first shareholder meeting at 10 a.
Tellabs just launched a line of xDSL modems to go with its MartisDXX managed multiservice access system. The network management system remotely manages the DSL modem at a company's premises, allowing capacity to be allocated at up to 4.5 megabits per second, Tellabs reports. The system is remotely configured for new services and upgrades, and it's commonly used in private branch exchanges, LAN ...
TV Cabo Portugal SA will plans to launch its interactive cable TV service — including DVR — in Lisbon, Portugal, on June 7. The service, powered by Microsoft's TV software, has been through trials and is expected to be commercially available to provide DVR, t-commerce, t-banking, e-mail and high-speed Internet.
Ciena Corp. reported net income losses of $50.7 million, compared to a profit of $18.4 million a year ago, it says in its second-quarter results, released today. The company also reported current Chair and CEO Patrick Nettles would become executive chairman and present President and COO Gary Smith would become President and CEO, effective immediately.
Juniper Group Inc. subsidiary Juniper Internet Communications Inc. signed an Internet installation services agreement with Comcast Cable Communications Inc. The deal is part of Juniper's goal of becoming a major provider of cable and DSL broadband installation services, it reports. Juniper has already begun connecting customers in Bucks County, Pa.
Despite their high-tech images, San Francisco and Seattle fell behind the New York City area in broadband usage. A Nielsen/NetRatings report says a good 10 percent of the country's broadband population is in New York City and its surrounding metro area, while San Francisco only mustered up 5.8 percent and Seattle, 3.
360networks is scaling back construction of its ambitious, 89,000-mile fiber optic network, it reports in its first-quarter results. The company says it is currently reviewing the development of undersea networks in the Asia-Pacific region, and has purchased $150 million of broadband capacity on existing networks in the region.
Corning Inc. launched its Vascade L1000 fiber for unrepeated or short-haul submarine networks, Corning says today. A single-mode fiber designed for the rigors of the shorthaul undersea networks and their higher data rates, Corning says the product increases the amount of optical power the fiber can carry without increasing susceptibility to nonlinear effects.
Liberate Technologies will use Java across its TV Platform line, under an agreement with Sun. The technology will run on already installed basic digital set-top boxes, and is the same technology used in cell phones, PDAs and pagers, Liberate says. The company initially will target the TV Navigator Compact client for the Motorola DCT-2000 class set-top boxes for compliance with the Java 2 Platfo...
OpenTV won the bid to supply Shanghai Cable Network's interactive platform and related services, it announced today. The amount was undisclosed. The cable TV network, China's largest, plans to roll out its interactive services later this year. The project will provide the services to roughly 1 million of SCN's 3.
NCTA announced 10 winners in eight categories of its Vanguard Awards. The awards, for those who excel in business and personal arenas, will be presented at a June 13 luncheon at the NCTA convention in Chicago. The Distinguished Leadership awards for a man and a woman whose "foresight have placed the cable industry in the vanguard of new communications technologies" go to Gerald M.
Three defendants charged with conspiring to steal trade secrets from Lucent Technologies had bail set at $900,000 each in a U.S. District Court yesterday. If the three meet bail and are released, U.S. Magistrate Stanley Chesler ordered them into home detention, and the trio and their wives would have to relinquish their passports, according to the U.
Teligent was granted another loan extension, this time until May 21. Originally due April 30, the loan's first extension expired today. The waivers concern vendor financing of at least $250 million and $100 million in convertible notes. "The company is currently in negotiations with The Chase Manhattan Bank and other lenders under the credit agreement regarding its financial position," Teligent...
Nortel Networks Corp. is stepping up its search for a new CEO, after its present chief gave a definite retirement date and its COO will leave for medical reasons. President and CEO John Roth will leave in April 2002, Nortel announced, and Clarence J. Chandran, already on medical leave from surgery, resigned effective immediately.
Teligent Inc. laid off 900 workers and its trading on NASDAQ was suspended on Friday. The troubled company also faces a loan extension deadline tomorrow, and will be in default on its loans if that's not met. The company also is waiting to hear back from NASDAQ regarding a hearing Teligent requested earlier this month after it was threatened with delisting.