Teligent put its core business up for bid Friday and already has a taker. Teligent Acquisition Corp., formed recently by an undisclosed group of bidders, will submit the first bid of $117.5 million, a Teligent spokesman says. "This will be the stocking horse bidder," he tells CEDaily. TAC is the initial bidder, and subject to higher ones.
Liberate Technologies is the 100th member to join SCTE's standards program, the company says. It also filed its annual report, noting among its risks that it has cash to meet capital needs for more than a year. But if it needs to raise capital and can't, it may not be able to fund its continued operations, it says.
Bidding war topic Hughes Electronics Corp. cut 10 percent of its formerly 7,900-strong U.S. workforce and as a result, says it will take a one-time charge in its third quarter. Company CEO Jack A. Shaw cited the strain of the economic downturn and sluggish economy. … The statisticians are sluffing off — a mere one study says 68 percent of consumers surveyed recognized digital video ...
It isn't panicking exactly, but on the heels of public doubt about its ability to survive, ExciteAtHome was dunned today by two holders of its convertible notes who want their $50 million. Excite is disputing the demand. The two holders, investment funds managed by Promethean Investment Group LLC, gave an Aug.
Lucent Technologies outlined its "headcount reconciliation" in its meeting with analysts yesterday, noting that it was alerting 2,200 "colleagues" of their layoffs that day. In a conference call, the company says its Phase II restructuring means cutting another 15,000 to 20,000 jobs, meaning nearly half its Dec.
"Neophyte home-networking" users should snap it up. HighSpeed Surfing Inc. says even those novices can use the wireless router it's partnering on with Delta Networks Inc. The two have "pledged" to support the WG 100 by customizing the applications required by cable operators, they say. The WG 100 comes with a 4-port auto sensing 10 or 100 Mbps fast Ethernet switch, and a one uplink push button ...
Cisco Systems cleaned house, refurbishing its previous three divisions into two — an 11-part engineering unit and a marketing unit. The company also moved execs and lost Kevin Kennedy, its senior VP of its old service provider line. In April 1997, Cisco devised three lines of business — its enterprise, service provider and commercial units — to focus on the growing markets at ...
They're back. The diligent number crunchers have churned out yet another spate of surveys. • An attempt to stimulate local services competition had "many nations mandating local loop unbundling," Yankee Group says in The Race to Win the Last Mile: Local Loop Unbundling Around the Globe. Despite varying frameworks for LLU around the world, regulatory agencies are plugging ahead.
Tellabs will cut 1,000 jobs and close two facilities as part of its plan to reduce operating expenses by 5 percent by the fourth quarter of 2001. It also will take a $50 million one-time restructuring charge in the third quarter. The equipment maker says it will close its Drogheda, Ireland, manufacturing plant and consolidate its work into other plants in Shannon, Ireland, and Espoo, Finland.
OpenTV and Matsushita Electric Industrial Co. Ltd. completed a jointly developed Multimedia Home Platform extension. The MHP 1.0.1 standard will affect OpenTV's advanced digital ITV platform, it says. The product is slated to be available as soon as the Digital Video Broadcasting project group releases its MHP Test Suite later this year, OpenTV says.
Concurrent Computer Corp.'s net losses narrowed in the fourth-quarter and year-end 2001, on revenue that grew modestly. The equipment maker saw fourth-quarter revenue reach $19.9 million, up from $18.5 million for the same period a year ago. Net losses for the quarter narrowed to $808,000, or 1 cent a share, from $1.
Under a $1.6 million contract, BarcoNet will supply digital TV headends and cable components to Norway-based BKK Broadband. The advanced digital/analog headend will supply more than 100 digital and 15 analog TV channels, 15 FM radio channels, an interactive information channel and Text TV. BarcoNet says it's in charge of the project, from signal source to set-top box.
Intent on a literal look at Labor Day, those diligent statisticians are back with another deluge of industry predictions. • Second-quarter sales of broadband fixed wireless, point-to-multipoint client or terminal equipment jumped 10 percent to $70 million over first-quarter of this year. Base station sales, however, dropped slightly, says a Dell'Oro Group report.
And you thought your market was hot. Digital Broadband Networks Inc. landed a deal to plan, design and execute all broadband communications and networking systems and services for luxury resort and spa Pulau Indah-Marina Village. The project is located on a tropical island on the Straits of Malacca, 45 minutes from Kuala Lumpur, Malaysia's capital.
America Online will cut at least 1,200 jobs in a restructuring effort, and AOL Time Warner will take a third-quarter charge of $100 million to $125 million as a result, the company announced. AOL says the move will help AOLTW operate all of its divisions "in a converged, integrated way." Under the restructuring, the company will create an Interactive Services Group, headed by Jonathan Sacks; co...