When did the universe get so topsy-turvy?(I'd venture to guess right around the time the Dow hit 8,000 for the first time?)The stock market rules.Global Crossing Ltd.-an unknown telecom venture by most accounts-can make a bid for Baby Bell U S West Inc., and...
NEW YORK-The U.S. Bankruptcy Court for the Southern District of New York handed NextWave Personal Communications Inc. a big victory May 13, cutting its C-block license bid obligation to $1.023 billion from $4.744 billion."The court has provided a market-based solution upon which NextWave can...
WASHINGTON-MCI WorldCom Inc. last week halted talks to buy Nextel Communications Inc. after succumbing to differences over price, putting shares of the No. 2 long-distance telephone company and the last independent national wireless operator on a wild roller-coaster ride for weeks.Some Wall Street analysts...
The market for broadband access services is on the verge of dramatic growth, and fixed terrestrial wireless systems are expected to play a big role, according to a new Strategis Group report titled, "World Wireless Broadband: LMDS, MMDS and Broadband WLL 1999-2008."Broadband wireless access systems...
WASHINGTON-MCI WorldCom Inc. chief Bernard Ebbers, basking in glow of first-quarter earnings that surpassed forecasts, last week did not indicate whether the No. 2 long-distance telephone company is seriously interested in acquiring national wireless operator Nextel Communications Inc. any time soon.In a conference call...
Telecommunications companies are offering some of the largest bond sales ever.Sprint Capital Corp. on Thursday expanded its $3 billion global bond sale to $3.5 billion. The proceeds will cover negative cash flow associated with building out Sprint PCS's personal communications services markets. During last...
MCI WorldCom seems to be signaling it is not interested in acquiring trunked radio giant Nextel Communications anytime soon, if ever, despite recent speculation. "We don't think it's imperative we do something in wireless right now, but in the next couple of years, we...
Wireless broadband service has finally received attention from the likes of big telecom players Sprint Corp. and MCI WorldCom Inc. The race is on to access the local market and cheaply bypass connection to regional Bell operating companies.Sprint announced last week plans to purchase...
Amid speculation that it could be a takeover target by MCI WorldCom Inc., SkyTel Communications Inc. announced a new pricing plan and a major strategic alliance last week, both designed to better position it for the wireless messaging battle ahead.Most significantly, the company announced...
WASHINGTON-Two telecommunications mega-mergers hit snags last week as the Federal Communications Commission said it had serious concerns about the SBC/Ameritech combination and the Virginia State Corporation Commission disapproved of the marriage between Bell Atlantic Corp. and GTE Corp., saying it lacked enough information to...
WASHINGTON-Telecom mergers are not just about mergers anymore.Multibillion-dollar deals have become the jumping-off-point for activism on labor rights, civil rights, regulatory reform, consumer protection, globalism, politics and a slew of other special-interest issues.So many and so big have mergers become that Senate Judiciary Committee...
Omnipoint Corp. said last week it has received proposals from potential strategic equity investors and will be evaluating them shortly. The company in January began a second round of serious discussions with potential investors. Discussions have revolved around selling an equity stake of at...
WETHERSFIELD, Conn.-Shared Technologies Cellular Inc. announced it signed an agreement to partner with MCI WorldCom Inc. to distribute STC's prepaid cellular services under the MCI WorldCom brand name."With MCI WorldCom as our distribution partner, we look forward to significant growth opportunities in the prepaid...
On Monday, it's Vodafone-AirTouch. Wednesday, it's SBC-Comcast. Friday must mean BellSouth.(Actually, it's Thursday as I write this so if anything has happened to BellSouth, I should be on Wall Street instead of here).What about BellSouth? And Nextel? And Omnipoint?Carriers keep talking about national footprints...
Bundling continues to push forward, albeit at a slow pace.A recent Arthur Andersen survey of telecommunications companies found 66 percent of respondents offer bundled services to business customers, and 61 percent are offering these services to residential customers. About 71 percent of long-distance carriers...
Today's telecommunications behemoths soon will rank right up there with journalists and used-car salesman on the "Who don't you trust" list.As competition tries to come to the telecom industry, we're beginning to see more and more of the underbelly of this industry.While press releases...
The nation's largest independent cellular carrier last week entertained bids from two potential acquirers in what could become a global bidding war.AirTouch Communications Inc. last week confirmed it was in discussions with Bell Atlantic Corp. for a possible tie-up and later confirmed it had...
NEW YORK-MapInfo Corp., Troy, N.Y., agreed to acquire On Target Mapping, a Pittsburgh, Pa., provider of mapping data solutions for telecommunications companies, including AT&T Corp., Cable & Wireless plc, MCI WorldCom and Sprint Corp.On Target Mapping will add telecommunications expertise to complement the business...
MCI Worldcom in published reports indicated it would be interested in buying a mobile phone service company in the coming years as competition drives down the value of wireless companies.MCI Worldcom management previously has insisted that wireless service was not a priority for the...
WASHINGTON-Justice Department antitrust czar Joel Klein, sending a mixed message, predicts Baby Bells will face local competition from wireless and wireline firms over time, even if mega-mergers among dominant telecom players are approved.Pointing to forces of deregulation, technology and globalization that are driving telecom...
WASHINGTON-In an exclusive interview provided to RCR, the Rev. Jesse Jackson said his Rainbow/PUSH Coalition plans to announce aggressive opposition against pending telecom mega-mergers at the Federal Communications Commission's Dec. 14 meeting if negotiations with company executives on the AT&T Corp.-Tele-Communications Inc.; SBC Communications...
NEW YORK-MCI WorldCom, Jackson, Miss., announced Nov. 20 it has formed the MCI WorldCom Fund, a venture-capital fund to invest in companies "that can create demand for and increase the performance of services and networks, and also deliver superior financial returns."With an initial...
OXFORD, United Kingdom-The "Year 2000" problem has become a priority item on the agenda of the International Telecommunication Union (ITU), reflecting the reality that the global network is only as strong as its weakest link. In the telecommunications sector, tackling the Year 2000 problem,...
NEW YORK-Securities and Exchange Commission Chairman Arthur Levitt accused Corporate America of "manipulation" and "illusion" when accounting for certain costs."In the zeal to satisfy consensus earnings estimates and project a smooth earnings path, wishful thinking may be winning the day over faithful representation," Levitt...
