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...
RESTON, Va.-Broadband telecommunications services provider XO Communications Inc. announced it plans to expand its network to 12 additional markets by the end of this year.The new markets, which include Tucson, Ariz.; Fresno and Stockton, Calif.; Colorado Springs, Colo.; Jacksonville, Sarasota, St. Petersburg and Tallahassee,...
RESTON, Va.-Broadband telecommunications services provider XO Communications Inc. announced it plans to expand its network to 12 additional markets by the end of this year.The new markets, which include Tucson, Ariz.; Fresno and Stockton, Calif.; Colorado Springs, Colo.; Jacksonville, Sarasota, St. Petersburg and Tallahassee,...
RESTON, Va.-XO Communications Inc. said it has received $161 million in paid subscriptions for approximately 32.2 million shares of its new common stock in the first stage of a rights offering that closed last week. The shares were priced at $5 per share. The...
RESTON, Va.-Broadband services provider XO Communications Inc. announced disappointing third-quarter 2003 results this week.Revenue was down 7.3 percent from last year's third quarter to $279.4 million. In addition, revenue from the first nine months of 2003 decreased by 11.6 percent from the same period...
RESTON, Va.-Embattled broadband communications provider XO Communications Inc. will offer bundled solutions to RE/MAX International independent realty offices nationwide. XO will offer RE/MAX associates communications solutions, including local, long-distance and broadband Internet services, including Web hosting."RE/MAX entered into this relationship because we are dedicated...
RESTON, Va.-Telecommunications provider XO Communications Inc. will shut down some offices and lay off 500 people by the end of the year, according to a report in the Washington Post.Cuts will be made in the finance, marketing and human resources divisions, while the company...
NEW YORK-Global Crossing this week was granted an extension on its exclusive purchase agreement with Singapore Technologies Telemedia Pte. Ltd., by which STT plans to invest $250 million to own 61.5 percent of the bankrupt company. The exclusivity extension means no other company can...
RESTON, Va.-XO Communications Inc. announced it now owns approximately $790 million of Global Crossing's $2.214 billion debt after $495 million of Global Crossing senior secured loans were tendered to XO yesterday.The news follows XO's fourth proposed restructuring plan for bankrupt Global Crossing, offered late...
RESTON, Va.-Broadband service provider XO Communications Inc. continues to pursue its previously announced plans to acquire bankrupt telecommunications company Global Crossing.XO said it is prepared to launch an "any and all" tender offer for Global Crossing's $2.25 billion bank debt. The tender offer would...
RESTON, Va.-Broadband service provider XO Communications Inc. continues to pursue its previously announced plans to acquire bankrupt telecommunications company Global Crossing.XO said it is prepared to launch an "any and all" tender offer for Global Crossing's $2.25 billion bank debt. The tender offer would...
RESTON, Va.-Broadband communications provider XO Communications Inc. has offered $700 million to acquire all assets of bankrupt telecommunications company Global Crossing Ltd. and Global Crossing Holdings Ltd.The offer includes $250 million cash and the rest in secured notes, junior preferred stock and warrants. According...
RESTON, Va.-Broadband communications service provider XO Communications Inc. said Nate Davis, its president and chief operating officer will step down to pursue other business interests."I am confident I am leaving XO in good hands with its new CEO, Carl Grivner," said Davis. "Carl will...
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...
FAIRFAX, Va.-Broadband wireless service provider XO Communications has hired consulting firm American Management Systems Inc. to help it implement a proactive customer loyalty program to improve XO's customer retention efforts. "Through analysis and segmentation, AMS is enabling us to truly get granular with our...
BELLEVUE, Wash.-InfoSpace Inc., which offers wireless and Internet software and services, reported total revenues for the fourth quarter of $36 million and a net loss of $64 million.For the company's wireless business, it reported revenues of $6.7 million for the quarter.Also, the company said...
RESTON, Va.-Wireless broadband service provider XO Communications Inc. has completed its financial restructuring and emerged from Chapter 11 bankruptcy with significantly reduced debt and $554 million cash and cash equivalents.XO now has a long-term debt of $500 million, down significantly from $5.1 billion before...
RESTON, Va.-Daniel Akerson, chairman and chief executive officer of XO Communications Inc., will quit the company following the completion of XO's financial restructuring. The company will move into the hands of financier Carl Icahn, which will hold a controlling interest in the company after...
RESTON, Va.—Daniel Akerson, chairman and chief executive officer of XO Communications Inc., will quit the company following the completion of XO's financial restructuring. The company will move into the hands of financier Carl Icahn, which will hold a controlling interest in the company after...
RESTON, Va.-Daniel Akerson, chairman and chief executive officer of XO Communications Inc., will quit the company following the completion of XO's financial restructuring. The company will move into the hands of financier Carl Icahn, which will hold a controlling interest in the company after...
NEW YORK-A day before the scheduled presentation of its bankruptcy reorganization plan to a federal court Nov. 15, XO Communications Inc. reported third-quarter losses of $695.2 million, or $1.57 per share, on revenues of $301.5 million.The company cited the weak economy and its February...
NEW YORK-The law firm of Stull, Stull & Brody has lodged a shareholder class-action lawsuit against XO Communications Inc., Salomon Smith Barney and its former research analyst Jack Grubman.The complaint alleges that Salomon's and Grubman's recommendation to buy XO stock lacked "rational economic basis"...
RESTON, Va.-Despite several frustrating and fruitless negotiations with XO Communications Inc.'s bank lenders, Carl Icahn is still hovering around the company's restructuring proceedings, this time offering to pay investors 50 cents for every senior secured loan dollar, without any buyback rights.On July 10 Icahn...
ADDISON, Texas-CMG Wireless Data Solutions announced DeWayne A. Nelon, formerly vice president and general manager at XO Communications Inc. has been hired as president for the company's North American region.Nelon, who has 20 years experience in the telecommunications industry, will take charge of growing...
