WASHINGTON-Cutting wireless out of the universal-service system seems to be gaining traction as legislation introduced in the House of Representatives that would make it much more difficult for mobile-phone carriers to qualify for universal-service support. Further, the chairman of the Federal Communications Commission said...
Alltel Corp. is on track to complete its wireline spinoff by mid-year, and the company plans to extend CDMA2000 1x EV-DO services to about 60 percent of its potential customers, Chief Financial Officer Sharilyn Gasaway told analysts at the Bank of America Media, Telecommunications...
WASHINGTON—Cutting wireless out of the universal-service system seems to be gaining traction with the introduction of legislation in the House of Representatives that would make it much more difficult for mobile-phone carriers to qualify for universal-service support. Further, the chairman of the Federal Communications...
The following information includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
BETHESDA, Md.-Iridium Satellite L.L.C. said in its first-half report that its subscriber base has increased 20 percent to 127,000 customers during the past 12 months and 11 percent from 114,000 subscribers the company reported at the end of last year. Revenue for the first...
BETHESDA, Md.-Iridium Satellite L.L.C. said it closed a $32 million senior secured credit facility with Bank of America N.A. The company said the financing has allowed it to consolidate debt and reduce interest expenses.
The following wireless companies received upgrades or downgrades from financial and investment firms this week.Moody's Investors Service assigned a B3 rating to the proposed senior secured credit facilities of Virgin Mobile USA with a positive outlook. The rating reflects the challenging operating environment the...
Following is a roundup of wireless companies that received ratings changes from financial services companies this week.JP Morgan lowered its rating on SpectraLink from neutral to underweight. The firm cited weak first-quarter results and second-quarter guidance along with three other factors for the downgrade....
PARIS-France Telecom signed an agreement with a group of minority shareholders in Orange Romania to acquire their shares for $523 million in cash, corresponding to a 2004 earnings before interest, taxes, depreciation and amortization multiple of 4.8. Following the transaction, France Telecom's indirect stake...
PARIS-France Telecom signed an agreement with a group of minority shareholders in Orange Romania to acquire their shares for a total cash consideration of $523 million corresponding to a 2004 earnings before interest, taxes, depreciation and amortization multiple of 4.8. Following the transaction, France...
LOS ANGELES-Bank of America, in partnership with Trammell Crow Co., said it is making available 3,500 of its retail banking centers nationwide for stealth wireless site installations.TCC's Wireless Solutions Group provides transaction and project management capabilities and manages the process with the wireless carrier...
NEW YORK-Banc of America Securities upgraded its communications equipment sector outlook from neutral/negative to positive, according to Forbes.The firm indicated it expects the sector's stocks to rebound and that it is upbeat on the handsets and networking sectors. Bank of America called Qualcomm Inc.,...
American Tower Corp. said it will restate its previously issued financial statements for periods ending on or prior to Sept. 30 last year. It will affect the three-year period ended Dec. 31, 2003, and the first three fiscal quarters of 2004. The review comes...
OKLAHOMA CITY-Dobson Cellular Systems Inc., a wholly owned subsidiary of Dobson Communications Corp., announced the pricing of a private placement of $825 million of senior secured notes. The notes consist of $250 million of 8.375-percent fixed-rate senior secured notes due 2011, $250 million of...
WATERLOO, Ontario-Research In Motion Ltd.'s stellar growth was dimmed slightly due to a downgrade from Bank of America Securities, which forced the company's stock down from around $120 per share to about $115 per share. RIM's shares were trading at about $115.39 Friday.Bank of...
WATERLOO, Ontario-Research In Motion Ltd.'s stellar growth was dimmed slightly due to a downgrade from Bank of America Securities, which forced the company's stock down from around $120 per share to about $115 per share. RIM's share were trading at about $115.39 Friday.Bank of...
OVERLAND PARK, Kansas-Rumors that Sprint PCS might sell its 6,000 wireless communications towers to reduce debt are again circulating, according to a report from Bloomberg. The Bloomberg report said Sprint has hired Citigroup Inc. and Bank of America Corp. to advise on the possible...
OKLAHOMA CITY-Bank of America Corp. subsidiary Banc of America Strategic Solutions Inc. has agreed to sell approximately 28.6 million shares of Dobson Communications Corp.'s Class A common stock to approximately four dozen institutional investors and funds, cutting the bank's ownership in Dobson to options...
Beaten back by a lackluster economy and ambivalent wireless users, an assortment of veteran wireless data players has sought refuge in the company of network operators. By targeting wireless carriers, these companies are looking to find a stable customer base amid a cutthroat business...
Sprint PCS added movie reviews from Hollywood trade publication Daily Variety and up-to-the minute professional baseball scores and updates to its PCS Vision 1KTV service. The downloadable Java-based service allows wireless customers to watch slide shows and hear information and breaking news.Cingular Wireless L.L.C....
OKLAHOMA CITY-Dobson Communications Corp. reported that Bank of America N.A. has extended the time for the completion of an amended and restructured loan with Dobson's majority shareholder Dobson CC Ltd. Partnership until May 16.
OKLAHOMA CITY-Dobson Communications Corp. reported that its majority shareholder Dobson CC Limited Partnership and Bank of America N.A. have reached an agreement in principle amending and restructuring DCCLP's loan that would allow DCCLP to maintain controlling interest in Dobson and eliminating any change of...
ORLAND PARK, Ill.-Andrew Corp., a major player in wireless network infrastructure, met with positive response from nine banks when it asked to renew a credit agreement, and therefore received $160 million, $10 million more than it originally requested.The group of lenders for the oversubscribed,...
WASHINGTON-EFJ Inc. signed a $10 million line of credit with the Bank of America N.A. it will use for working capital and to finance the performance of government contracts. The company can borrow up to $10 million under the revolving line of credit, which...
