MegaPath Invests in With Option to Acquire

MegaPath Inc., a provider of VPN solutions and other managed IP services to businesses nationwide, announced it has made a strategic investment in Inc. which will allow MegaPath to acquire substantially all of the equity of upon receiving regulatory and shareholder approval. This acquisition, which involves additional funding from existing MegaPath investors, would […]

Time Warner Telecom to Buy Xspedius for $531.5 Million

Consolidation fever struck again late Thursday as Time Warner Telecom Inc. announced it has snapped up Xspedius Communications LLC, a privately held CLEC based in Missouri, for  $531.5 million. The deal is expected to close within the next six months. Time Warner Telecom will pay $212.5 million in cash and $319 million in shares of […]

Qwest Reports Smaller Losses, Announces Shareholder Settlement

Qwest Communications International Inc. narrowed its losses in the third quarter of 2005, reporting a small increase in revenue at $3.5 billion, compared to $3.45 billion a year earlier. Its operating expenses totaled $3.3 billion, a decline of 9 percent, or $326 million, compared to the third quarter of 2004. Overall losses came to $144 […]

Sprint, Nextel to Close Merger on Friday

Sprint Corp. and Nextel Communications Inc. said today they will close their proposed merger on Friday. The companies have received all regulatory and shareholder approvals for the $35 billion deal. The combined company, called Sprint Nextel, will start trading on the New York Stock Exchange on Monday, Aug. 15, under the ticker symbol S.

ITC^DeltaCom Announces Financing Commitment

ITC^DeltaCom Inc., the telecommunications provider in the Southeast, on Tuesday announced arranging a $239 million financing commitment from Tennenbaum Capital Partners LLC, a private investment firm. West Point, Ga.-based ITC^DeltaCom said it would use $209 million to fully refinance its senior credit facility while $30 million would be extended as a subordinated secured loan and […]

Qwest Backs Out of Fight for MCI

After months of back-and-forth offers to try and buy MCI Inc., Qwest Communications International Inc. has pulled out of the fight for the ailing carrier, which stands to be acquired by Verizon Communications Inc. Qwest Chairman and CEO Richard Notebaert at a shareholders meeting yesterday told attendees, [W]e arent looking at MCI. Thats over. Notebaert […]

Business News – Covista Communications Inks Agreement to Acquire Capsule

Posted: 09/2001 Business News Covista Communications Inks Agreement to Acquire Capsule By Josh Long In a merger valued at nearly $12.58 million, Little Falls, N.J.-based Covista Communications Inc. has inked an agreement to acquire Capsule Communications, gaining a larger footprint in the commercial sector in the Northeast. The acquisition, which is subject to shareholder and […]

Business News – Equalnet Communications Completes Reorganization of EqualNet Corp.

Posted: 08/1999 Equalnet Communications Completes Reorganization of EqualNet Corp. Equalnet Communications Corp., Houston, has completed the plan of reorganization for its wholly owned subsidiary, EqualNet Corp. "With this financial restructuring behind us, we can better devote our efforts to building shareholder value by repositioning our focus to emerging niches in the communications market," says Mitchell […]

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