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Broadband Direct

Daily news and top headlines for broadband communications engineering and design professionals

Tele2 awarded 3G license in Luxembourg

May 23, 2002 8:00 pm | by Susan Rush | Comments

Copyright 2002 M2 Communications Ltd. TELECOMWORLDWIRE…05/23/2002 From LexisNexis Swedish-based telecom group Tele2 AB reports that Tango, its mobile operator unit in Luxembourg, has been awarded a license by Luxembourg's ministry of telecom to develop a third-generation (3G) mobile communications network.

The Rigas family relinquishes Adelphia control

May 23, 2002 8:00 pm | by Susan Rush | Comments

Succumbing to pressure from the board, the founding family of Adelphia Communications Corp. has handed over control of the cable company and has agreed to transfer more than $1 billion in personal assets to the MSO. Adelphia's woes came to light in March, when the come revealed Adelphia failed to explain what was securing $2.

WorldCom snags funding

May 23, 2002 8:00 pm | by Susan Rush | Comments

WorldCom Inc. has secured $1.5 billion in funding, but the communications giant is not out of the woods yet. The accounts-receivable facility, which does not include any ratings triggers, replaces a $2 billion receivables program that expired yesterday. The lead banks on facility are Citigroup and JPMorgan Chase.

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StarBand sues largest shareholder

May 23, 2002 8:00 pm | by Susan Rush | Comments

Sometimes the little fish must battle the big fish, and StarBand Communications Inc. is doing just that. The two-way, always-on satellite broadband service provider is suing its largest shareholder, EchoStar Communications Corp., for allegedly billing and collecting revenue from its customers illegally.

Intel forks over $50 million for tunable laser technology

May 23, 2002 8:00 pm | by Susan Rush | Comments

Looking to accelerate the deployment of dense wavelength division multiplexing equipment, Intel Corp. has laid down $50 million in cash to scoop up New Focus Inc.'s network tunable laser business and technology. The acquisition is intended to augment Intel's existing optical networking business, and will enable the company to deliver "small form factor, low-cost tunable optical transceivers to ...

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ClearPath intros new VPN services

May 23, 2002 8:00 pm | by Susan Rush | Comments

Looking to help its business customers maximize their voice, data and multimedia communications, ClearPath Networks has added new services to its virtual private network service portfolio. iVPN Voice and iVPN Multimedia are two new VPN products with a defined class of service that are suitable for convergent applications, including voice over IP and video conferencing, ClearPath founder Cliff Y...

Hutchison stands pat on bid for Global Crossing

May 23, 2002 8:00 pm | by Shu-Ching Jean Chen | Comments

Copyright 2002 The Deal L.L.C. The Daily Deal…05/24/2002 From LexisNexis Hutchison Whampoa Ltd., the flagship investment holding company of Hong Kong billionaire Li Ka-shing, said Thursday it would stand firm on its $750 million offer price for Global Crossing Ltd., adding that it might lower the price further for smaller parts of the failed underseas cable operator now in bankruptcy proc...

Qwest looks to reassure investors after rating gets "junked"

May 22, 2002 8:00 pm | by Susan Rush | Comments

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.

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Another Adelphia vendor expects to take it on the chin

May 22, 2002 8:00 pm | by Susan Rush | Comments

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.

TWC, SeaChange partner for VOD in N.Y.

May 22, 2002 8:00 pm | by Susan Rush | Comments

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...

Riverstone inks router deal

May 22, 2002 8:00 pm | by Susan Rush | Comments

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.

Liberty Media takes charge in Q1

May 22, 2002 8:00 pm | by Susan Rush | Comments

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.

In other financial news…(2)

May 22, 2002 8:00 pm | by Susan Rush | Comments

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.

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Qwest looks to reassure investors after rating gets "junked"(2)

May 22, 2002 8:00 pm | by Susan Rush | Comments

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.

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Nokia invests in Redback

May 21, 2002 8:00 pm | by Susan Rush | Comments

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.

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