WASHINGTON-Craig McCaw, who made a fortune in the cellular industry before stumbling in satellite and local telephone ventures, last week unveiled plans to leverage wireless technology to compete against dominant telephone and cable TV companies in the lucrative high-speed Internet market. McCaw will pursue...
While its products still entice carriers, Nortel Networks Ltd. is down in the dumps on Wall Street.The question looms whether the company's technology will prevail over its financial woes.The company's financial stumbles plunged the company's stock price 27 percent last week as the...
The financial woes of Nortel Networks Ltd. plunged the company's stock price 27 percent as the firm announced it has fired its chief executive officer, chief financial officer and controller.The company is under investigations from the U.S. Securities and Exchange Commission and the Ontario...
BELLEVUE, Wash.-Satellite communications provider Teledesic LLC said it is suspending operations, "significantly" reducing its staff and re-evaluating its business approach.The company said last week it will suspend work with Italian satellite manufacturer Alenia Spazio SpA, the company contracted to build the first two satellites...
BELLEVUE, Washington, United States—Teledesic said it signed an agreement with Italian satellite manufacturer Alenia Spazio to build satellites for Teledesic's network.The agreement covers construction of Teledesic's first two satellites. Teledesic said it is negotiating with Alenia Spazio and other satellite manufacturers for the remainder...
BELLEVUE, Wash.—Teledesic L.L.C. said it signed an agreement with Italian satellite manufacturer Alenia Spazio Spa to build satellites for Teledesic's network.The agreement covers construction of Teledesic's first two satellites. Teledesic said it is negotiating with Alenia Spazio and other satellite manufacturers for the remainder...
KIRKLAND, Washington, United States—ICO Global announced it has reached final agreement on its merger with New ICO Global Communications.ICO Global, previously known as ICO-Teledesic Global, also has agreed with Teledesic to end their proposed merger to allow both companies the greatest flexibility in the...
Mobile satellite service is an idea and a technology that today lies buried under the apprehension and disappointment of a number of major business deals gone bad. But about 10 years ago, the mobile satellite industry had an optimistic outlook on the future,...
For several years, it seems there has been little good news to report about the mobile satellite industry. It is one that has been marked by marginal peaks and inconceivable valleys. Losses in this industry are talked about in terms of billions of dollars,...
NEW YORK-ICO-Teledesic Global Ltd. and New ICO Global Communications Holdings Ltd. have withdrawn plans for the public sale of securities related to their planned merger.New ICO also has applied for a waiver of the bankruptcy court requirement that it sell its Class A Common...
BELLEVUE, Wash.-Teledesic L.L.C. and Motorola Inc. have agreed to end their system agreement in the wake of Teledesic's plans to merge with ICO-Teledesic Global Ltd., Teledesic announced.Motorola was the prime contractor of the Teledesic system. Ending the agreement will give Teledesic the freedom to...
A relatively unknown company is muscling its way to the front of the pack in the race to provide two-way satellite broadband Internet service, backed by the financial and marketing strength of two of the world's most influential corporations.With investments from Microsoft Corp. and...
LONDON-Amid the flickering satellite communications business, Craig McCaw's ICO-Teledesic Global Ltd. appears to be shining bright after receiving more than $1 billion in investor financing led by McCaw's Eagle River Investments L.L.C., Clayton Dubilier & Rice Inc. and Microsoft Corp. Chairman Bill Gates' Cascade...
WASHINGTON-A major satellite export reform bill passed by the GOP-led Congress two years ago has blown up in the face of lawmakers at a time when Republicans and Democrats are frantically scrambling to champion the high-tech agenda.Since March 1999, when satellite export oversight was...
As Globalstar Telecommunications Ltd. faces a funding gap, a proposed merger between two emerging satellite operators adds yet another twist in the short history of the mobile satellite industry.Globalstar recently revealed its funds could run dry by the fourth quarter, but the company said...
After spending 10 years and $5.8 billion building and launching a constellation of 66 low-earth-orbit satellites to provide mobile voice and paging services worldwide, Iridium L.L.C. is facing a new countdown-toward extinction.If the company doesn't find someone to replace Craig McCaw as its financial...
Craig McCaw's Eagle River Investments L.L.C. announced it will not invest in Iridium L.L.C., forcing Iridium to look elsewhere for financial backing to pull it out of Chapter 11 bankruptcy protection.Eagle River said it will instead focus its satellite communications investments on bailing out...
DENVER, United States-Globalstar USA became the latest Globalstar L.P. partner to launch full commercial service, completing the company's North American coverage for its mobile satellite phone service, perhaps Globalstar's most important service region.Globalstar USA launched at the same time as Globalstar Canada, while Globalstar...
Is it a bird? A plane? No, it's Craig McCaw, swooping in to rescue yet another struggling satellite wireless phone company-leading a group of investors to provide $74.6 million in interim financing for the bankrupt Iridium L.L.C.This is McCaw's second performance in his satellite...
DENVER-RCR announced seven inductees into its first annual Wireless Hall of Fame, created to recognize the contributions of those people who have made significant contributions to the advancement of the wireless telecommunications industry. The inductees will be honored in May at a ceremony in...
A U.S. bankruptcy court has given ICO Global Communications final approval for $500 million in financing from an investor group led by Craig McCaw and Indian media magnate Subhash Chandra, who had challenged McCaw with a competing financing bid.Under the agreement, McCaw will provide...
Just weeks after a bankruptcy court approved the first part of his plan to bail out the financially struggling ICO Global Communications, Craig McCaw reportedly is close to completing a similar deal to save another bankrupt satellite-based global voice provider-Iridium L.L.C.While officials at Iridium...
ICO Global Communications announced the first $150 million in interim debtor-in-possession financing offer led by Craig McCaw and his Eagle River Investments L.L.C. affiliate has been approved by the U.S. Bankruptcy Court, as well as courts in Bermuda and the Cayman Islands.The approval of...
TesscoTessco Technologies Inc. appointed Kevin P. Demery vice president and unit director of product and brand development. He will be responsible for electronic commerce, product management, strategic planning and all marketing communications. Demery has held senior sales and marketing positions with Ericsson Inc. and...
