Shares of Qwest Communications International Inc. were taking a beating today, following news that the company plans to restate earnings for 1999, 2000 and 2001. Qwest said it improperly accounted for about $1.1 billion in optical capacity sales from 1999 through 2001. The company is in the midst of examining its accounting practices and procedures and may have to restate all optical capacity s...
Marking the third loss for Gemstar-TV Guide International in about a month, a U.S. District Court judge in North Carolina has ruled that EchoStar Communications Corp. did not infringe on any of the Gemstar patents involved in this particular case. Judge Lacy Thornburg dismissed the case and awarded court costs to EchoStar.
Williams Communications Group Inc. inched closed to emerging from Chapter 11 with a multi-million dollar investment from Leucadia National Corp. The deal calls for Leucadia to make a $150 million investment to help Williams repay mounting bank debt. Leucadia also will fork over $180 million for Williams' former parent Williams Companies' rights in Williams Communications Group.
Although members of technology companies, consumer electronics manufacturers and motion-picture studios have put their heads together to develop a new standard to prevent digital television broadcasts from being spread over the Internet, the results the entertainment industry wants may come from Congress.
Richard Prodan has left Terayon Communications to join Broadcom Corp. as the chipmaker's new vice president and chief scientist, broadband communications. The move could become significant for Broadcom in its development of technology based on DOCSIS 2.0, a new CableLabs specification designed to mitigate noise and dilate cable's high-speed return path.
Liberty Media subsidiary Starz Encore Group has selected N2 Broadband Inc.'s MediaPath technology to deliver subscription video-on-demand services to US cable operators. The MediaPath content distribution system is designed to provide secure point-to-multipoint delivery of on-demand content to cable system headends.
Eagle Broadband is marching full-speed ahead with its fiber-to-the-home initiative. Texas' Victory Lakes master-planned community will be the company's first all IP-based community. Eagle Broadband has completed its basic FTTH installation and is getting started on the delivery of Bundled Digital Services to the community, which sits 30 miles south of Houston.
Metro networker Riverstone Networks is the subject of a class action lawsuit filed in a California court yesterday. The suit, filed in the U.S. District Court for the Northern District of California, alleges Riverstone issued a series of false and misleading statements concerning the company's financial condition and sales.
It doesn't seem that long ago that European operators were shelling out billions for next-generation wireless licenses, in hopes of becoming the top dog in the 3G market. With the economy lagging, however, reality is starting to set in, leaving some companies to reevaluate their commitment to 3G. Finland's Sonera and Spain's Telefonica have decided to put their 3G network plans hold.
As the demand for optical networking gear continues to wane, JDS Uniphase Corp. said it is trimming is its first-quarter outlook. The optical networking gear provider expects to post an 8 percent sequential decline in first-quarter sales. For the fourth quarter ended June 30, JDs posted revenue of $222 million, a 63 percent drop from the $601 million recorded in the same quarter a year ago.
Copyright 2002 The Deal L.L.C. The Daily Deal…07/26/2002 From LexisNexis Corning Inc. has a number of auctions in the works to raise cash and help reach profitability by 2003, sources said Thursday. Optics analyst Jim Jungjohann at CIBC World Markets said Corning, the world's largest maker of optical fiber and cables, is selling Corning Gilbert, its connector business.
Edward Breen is on the move, but is he going from the frying pan into the fire? Less than a year after taking over as chief operating officer at Motorola Inc., Breen is leaving the company to take up the CEO post at embattled Tyco International Ltd. Breen was heir-apparent to the Motorola throne when Christopher Galvin decided to step down as the company's chief executive, but he has decided to...
Denver, once considered the cable capital of the world, will continue to lose its grip on that mantle later this year when Time Warner Cable relocates most of its corporate offices there to Charlotte, N.C. and Herndon, Va. Time Warner Cable spokesman Mark Harrad confirmed Monday that about 200 of the company's 300 employees based in the Denver area will be affected, with the majority of those j...
After careful review, Verizon Communications Inc. has decided not to exercise its right to buy back a controlling stake in data network operator Genuity Inc. Verizon said it would not convert a 10 percent stake in Genuity into an 80 percent position, citing market conditions and Verizon's business needs.
Venture capital may be difficult to come by for start-up vendors stuck in the R&D stage of development, but companies with relatively tested new product are finding capital a bit easier to come by. Aurora Networks, makers of advanced optical transport gear intended to leverage current HFC cable plant architectures, announced that it has finalized a round of Series B funding totaling almost ...