BellSouth's Q3 affected by Katrina
BellSouth chairman and CEO Duane Ackerman acknowledged in the company's third-quarter earnings report that damage and restoration costs related to Hurricane Katrina combined with ongoing merger integration costs will give BellSouth relatively flat earnings for the quarter...
Marconi gives Ericsson convergence power
Ericsson agreed to acquire Marconi’s telecom equipment business for 1.2 billion pounds (or about $2.1 billion), the company announced today...
Time Warner Telecom removed from ‘CreditWatch’
Standard & Poor’s Rating Services removed Time Warner Telecom from its ‘CreditWatch’ list Friday after nearly two months, affirming the competitive carrier’s current credit ratings...
Nortel's new CEO vows to jump-start company
Of all the challenges faced by Mike Zafirovski as the new CEO of Nortel, one of the biggest will be deciding exactly which markets the company wants to compete in...
New Nortel CEO gets $1.2M base salary
Unless his former employer, Motorola, blocks him from taking his new job, Nortel Networks’ new president and chief executive officer, Mike Zafirovski, will be paid a base salary of $1.2 million (in U.S. dollars), the company revealed in filings with the U.S. Securities and Exchange Commission today...
Level 3: Price pressure easing
Level 3 Communications reported ongoing improvement in wholesale transport pricing trends in a sector long plagued by cutthroat pricing...
Redback looks to add partners, staff
Riding a continuing wave of success and heading toward profitability in the fourth quarter, Redback Networks is looking to hire more staff and forge new vendor partnerships, the company indicated in its third-quarter earnings conference Wednesday evening....
OnFiber takes on debt for M&A
OnFiber has obtained a $25 million senior secured credit facility from Comerica Bank, which the carrier will use to repay existing debts and to fund both organic growth and acquisitions...
Adtran reports jump in income; raises guidance
Adtran today reported third-quarter sales of $149,170,000, up 25% compared to $118,873,000 for the second quarter of 2005 and up 29% compared to $115,251,000 for the third quarter of 2004...
Nortel hires Motorola exec as president, CEO
Nortel Networks today announced that Mike Zafirovski has been appointed as its new president and CEO...
Adva Optical acquires Covaro
Adva Optical Networking is acquiring Ethernet equipment vendor Covaro Networks, doubling the German vendor’s U.S. workforce, broadening its portfolio of metro Ethernet access products and hastening its penetration of the American market. ...
Sycamore swings to profit
Sycamore Networks reported positive net income for its fiscal fourth quarter, surprising analysts who expected the optical equipment vendor to continue its years-long trend of losses...
NTELOS re-emerges with IPO filing
NTELOS has filed papers with the Securities and Exchange Commission to launch an initial public offering that would raise up to $175 million in cash...
Arroyo tunes in new president, CEO
Video-on-demand vendor Arroyo Video Solutions today announced it has named former Catena Networks executive Rick DeGabrielle as its new president and CEO...
Meriton eats Mahi
Meriton Networks is acquiring Mahi Networks for an undisclosed sum, the two equipment vendors revealed today. Neither company would disclose whether the deal was made with stock, cash or both....
Nortel realigns business units into product groups
Slightly more than a year after the company realigned its corporate business divisions from product groups into customer groups, Nortel is reordering them again based on product groups, the company announced today...
Former Alloptic CEO helms FlexLight
FlexLight Networks, a four-year-old vendor of gigabit passive optical networking (GPON) equipment, named Armando Pereira its newest chief executive officer today...
SeaChange fills in content play
SeaChange International announced its has paid $13.4 million in cash for the remaining 72% of the outstanding capital stock of the European content aggregator On Demand Group Limited (ODG) that it did not previously own...
Alltel hints at wireline spinoff
Alltel today announced it has started the formal process of assessing the market environment for repositioning options related to its wireline business...
Heartland Institute: Muni HFC networks not making money
The Heartland Institute today announced the findings of a study on three Iowa municipal hybrid fiber/coax networks--Cedar Falls, Muscatine and Spencer--showing that all three had to achieve any meaningful return on their investment...
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