Telecom equipment vendors posted fiscal first-quarter results and watched their stocks react accordingly. Thanks in part to a $278 million bankruptcy lawsuit ruling, Lucent Technologies Inc. posted a first-quarter net loss of $104 million, or 2 cents per share.The telecom equipment maker said the...
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...
MURRAY HILL, N.J.-Thanks in part to a $278 million bankruptcy lawsuit ruling, Lucent Technologies Inc. posted a first quarter net loss of $104 million, or 2 cents per share. The telecom equipment maker said the ruling, worth 6 cents per share, was ordered by...
Lucent Technologies Inc. says it plans to appeal a U.S. bankruptcy court ruling ordering the telecommunications equipment giant to pay $244 million plus interest and other costs to Winstar Communications for allegedly violating the terms of a network supply and buildout contract between the...
MURRAY HILL, N.J.-Lucent Technologies Inc. says it plans to appeal a U.S. bankruptcy court ruling ordering the telecommunications equipment giant to pay $244 million plus interest and other costs to Winstar Communications for allegedly violating the terms of a network supply and buildout contract...
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...
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...
Financial regulatory services provider NASD announced Christine Gochuico, former vice president and telecommunications research analyst for Salomon Smith Barney Inc., has settled charges related to misleading research of broadband services provider Winstar Communications Inc.Gochuico will pay a $100,000 fine and be suspended from associating...
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...
A much-awaited ruling from the Federal Communications Commission, hailed as one of the most important spectrum-reform decisions during the past decade, could impact the wireless industry even more than anticipated. The FCC's final rules on secondary markets, which ease spectrum-leasing rules for wireless-spectrum licensees,...
IDT Corp. has formed a spectrum-leasing unit within IDT Solutions to focus on leasing spectrum to telecommunication and wireless service providers. The move follows the Federal Communications Commission ruling that allows spectrum licensees to enter leasing arrangements with other companies.IDT Solutions is the marketing...
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...
The legal duel as well as the claims and counterclaims between Motorola Inc. and Turkish carrier Telsim intensified with a recent full-page advertisement in the Wall Street Journal and some other large-circulation publications, highlighting the woes of vendor financing.In the ad, titled "Important Notice...
WASHINGTON, D.C.-The Wireless Communications Association announced 14 winners of its annual industry awards, given to carriers and vendors using wireless technology to deliver broadband service in innovative ways. Wemmies went to: NextNet Wireless, ArrayComm, the Dandin Group, Dynamic Broadband, Evertek, IPWireless, Motorola Canopy, MVS...
MURRAY HILL, N.J.-Lucent Technologies Inc. said it is not the target of the U.S. Attorney's office investigation of a 2000 accounting error on a software licensing agreement with Winstar Communications Inc.Winstar declared bankruptcy once the investigation began and Lucent revised downward its fourth-quarter revenues...
NEW YORK-The lead counsel representing purchasers of Winstar Communications Inc. common stock filed a lawsuit in the U.S. District Court for the Southern District of New York against Salomon Smith Barney and analyst Jack Grubman.The suit was brought on behalf of Winstar stockholders who...
WASHINGTON-Wireless Communications Association International is hosting two high-profile panels at its annual conference in Boston next week that will assess the implications for the wireless communications industry of homeland security developments such as the proposed new cabinet-level Department of Homeland Security, WCA said.The sessions...
MURRAY HILL, N.J.—Purchasers of Winstar Communications securities have sued Lucent Technologies Inc. for an undisclosed sum, accusing Lucent of causing Winstar's stock to lose value before Winstar filed for bankruptcy last April.Preferred Life Insurance Co. and other institutional investors filed the lawsuit last month...
NEWARK, New Jersey, United States—IDT said Winstar Communications will exit the wireline resale business entirely, exit its fixed-wireless business in certain of its smaller markets and consolidate certain facilities and functions with IDT to bring Winstar to profitability by the end of the year.IDT...
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...
WILMINGTON, Delaware, United States—IDT, the former suitor of Teligent, made a bid for Winstar Communications, offering about US$40 million for the local multipoint distribution services (LMDS) carrier, which was moments away from liquidation.Lawyers for Winstar were planning to ask the bankruptcy court if 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...
NEW YORK—A judge in the U.S. Bankruptcy Court in Delaware gave groups bidding for bankrupt Winstar Communications another week to secure additional financing.A ruling on the case was expected to be handed down Monday, but lawyers for Shearman & Sterling, the law firm representing...
