NEWARK, N.J.-IDT Corp. said Detroit-based GVC Networks L.L.C. bought its Winstar subsidiaries, which provide telecommunications services to various U.S. government agencies. Though terms of the sale have not been disclosed, IDT said that sale includes Winstar Communications L.L.C., Winstar Government Solutions L.L.C. and Winstar...
NEWARK, N.J.-Fixed-wireless vendor IDT Spectrum Inc. plans to raise up to $57.5 million in an initial public offering. The company said it will use the funds to build a fixed-wireless network in various U.S. markets, including New York, Los Angeles, Chicago, Washington D.C., and...
ALEXANDRIA, Minn.-Rural Cellular Corp. elected two new members to its board of directors.James V. Continenza and Jacques Leduc were elected to the board at the company's 2005 annual shareholders meeting by holders of the company's 11.375-percent senior exchangeable preferred stock.Continenza most recently was president,...
CHARLOTTESVILLE, Va.-First Avenue Networks said it signed an agreement to acquire all of Teligent Inc.'s assets and fixed broadband wireless operations.First Avenue, which intends to close the deal in the fourth quarter, said it will issue about 25.2 million common shares and warrants to...
CHARLOTTESVILLE, Va.-First Avenue Networks announced it plans to acquire wireless broadband service provider Teligent Inc., including its 24 GHz spectrum licenses, fixed-wireless broadband operations and radio assets in a stock transaction valued at $99 million.Following the transaction, First Avenue will hold more than 700...
CHARLOTTESVILLE, Va.-First Avenue Networks announced it plans to acquire wireless broadband service provider Teligent Inc., including its 24 GHz spectrum licenses, fixed wireless broadband operations and radio assets in a stock transaction worth $99 million.Following the transaction, First Avenue will hold more than 700...
The Ricochet saga continues, with Falls Church, Va.-based YDI Wireless Inc. becoming Ricochet Networks Inc.'s fourth owner in two years.YDI bought the company for $3 million in cash, along with 42,105 shares of YDI common stock and a $300,000 unsecured note, payable over three...
The Ricochet saga continues, with Falls Church, Va.-based YDI Wireless Inc. becoming Ricochet Networks Inc.'s fourth owner in two years.YDI bought the company for $3 million in cash, along with 42,105 shares of YDI common stock and a $300,000 unsecured note, payable over three...
When Monet Mobile Networks Inc. launched service in November 2002, many in the industry believed that the promise of advanced wireless data technology had finally become a reality-which is why the carrier's bankruptcy filing came as such a surprise."Personally, I'm very, very sorry to...
WASHINGTON-WorldCom Inc., which is doing business under the name MCI, named five independent directors to its board late last month.Laurence Harris is a partner at the law firm of Patton Boggs L.L.C. Harris was an executive of Teligent Inc., a fixed wireless startup that...
BellSouth Corp. has agreed to buy WorldCom Inc.'s multichannel multipoint distribution system licenses for $65 million in an agreement the two companies reached last month. BellSouth's bid for the company's fixed-wireless assets is a "stalking horse" bid, in which a bankrupt company chooses one...
WHITE PLAINS, New York, United States—NextWave Telecom and bankrupt fixed wireless company Teligent were given approval by the U.S. Bankruptcy Court to transfer approximately US$1 million in telecommunications assets, including transmission equipment and office space and supplies, from Teligent to NextWave. Both companies are...
WHITE PLAINS, N.Y.—NextWave Telecom Inc. and bankrupt fixed wireless company Teligent were given approval by the U.S. Bankruptcy Court to transfer approximately $1 million in telecommunications assets, including transmission equipment and office space and supplies, from Teligent to NextWave. Both companies are having their...
HERNDON, Va.—Teligent Inc. hired Venture Asset Group L.L.C. in Palo Alto, Calif., to sell more than 20 Teligent offices in 17 states.Teligent is reorganizing under a new name and business plan and is expected to emerge from bankruptcy in the next couple months. It...
HERNDON, Va.—Teligent Inc.'s lenders have agreed to resurrect and fund the company under a new name and business plan.In November it seemed the bankrupt local multipoint distribution services carrier was finally dead after Teligent Acquisition Corp., the company formed to salvage the assets at...
IDT Corp., a familiar face in the wireless broadband industry as the former suitor of Teligent Inc., successfully bid $42.5 million for Winstar Communications Inc. after several tumultuous days of negotiations that had the company teetering on the edge of liquidation.A judge in the...
NEWARK, N.J.—IDT Corp., the former suitor of Teligent Inc., said it will acquire Winstar Communications Inc. for $42.5 million after several tumultuous days of negotiations.Lawyers for Winstar were planning to ask the bankruptcy court on Monday if the company could file for Chapter 7...
WASHINGTON—Teligent Acquisition Corp., the recently formed company trying to purchase the remaining assets of Teligent Inc., reduced its bid from $117.5 million to $77.5 million, according to the company's latest Securities and Exchange Commission filing.TAC was the only bidder at the auction Oct. 11,...
VIENNA, Va.—Teligent Inc. said its auction to sell its remaining assets has been rescheduled for Oct. 11. The U.S. Bankruptcy Court in Manhattan is overseeing the proceedings.
DENVER, Colorado, United States—If there was any doubt the acquisition deal between Teligent and IDT was dead, Teligent's latest announcement that a company has been formed to purchase Teligent's assets should put those doubts to rest.Backed by current management, the new company, Teligent Acquisition...
NEW YORK-Verizon Communications and SBC Communications Inc. held onto their respective first- and second-place rankings for profitability for 2000, according to research from Standard & Poor's.Deutsche Telekom-which was not listed on RCR Wireless News' stock chart in 2000 and therefore not among the major...
VIENNA, Va.-Teligent Inc. said its securities were delisted from the Nasdaq National Market at the opening of business today. The decision, made jointly by Teligent and Nasdaq, follows a voluntary filing for Chapter 11 bankruptcy protection on May 21.Trading of Teligent's stock was halted...
Heinz Corp.Heinz Corp., which provides services to wireless carriers, has promoted Rick Vogt to senior project manager. In his new position he will be responsible for Heinz's projects for Cingular Wireless. Vogt has been with Heinz for about a year, and most recently supervised...
As expected, Teligent Inc. voluntarily filed for bankruptcy last week following a long and tedious demise that included debt extensions, layoffs and management shake-ups.Vienna, Va.-based Teligent said it filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of...
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