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Verizon Communications Acquires MCI
February 14, 2005 -- (WEB HOST INDUSTRY REVIEW) -- Verizon Communications (verizon.com) announced on Monday that it has acquired MCI (mci.com) for $4.8 billion in equity and $488 million in cash, confirming reports that emerged late last Friday.
Verizon Makes Offer for MCI
February 11, 2005 -- (WEB HOST INDUSTRY REVIEW) -- According to reports, telecommunications carrier Verizon (verizon.com) is in serious merger talks with MCI (mci.com) and could announce a deal in the next few days.
XO Completes Allegiance Acquisition
June 24, 2004 -- (WEB HOST INDUSTRY REVIEW) -- Web hosting and Internet service carrier XO Communications (xo.com) announced on Wednesday that it has completed its acquisition of the assets belonging to Allegiance Telecom (algx.com) for $322 million in cash, including $11 million of adjustments for working capital and approximately 45.4 million shares of XO common stock.
Speedera Expands Presence at AboveNet
June 10, 2004 -- (WEB HOST INDUSTRY REVIEW) -- AboveNet (abovenet.com) announced on Wednesday that content delivery service provider Speedera Networks (speedera.com) plans to expand its presence in several AboveNet data center facilities in the US.
XO to Acquire Allegiance for $311 Million
Under the terms of the transaction, XO will acquire all the Allegiance assets covered by the agreement for $311 million in cash and 45.38 million shares in XO common stock.
XO Applying for Return to Nasdaq
The company's stock has been trading in the over-the-counter market under the symbol XOCM.OB since it emerged from chapter 11 bankruptcy in January of 2003.
XO Sells Stock, Raises $197M to Reduce Debt
XO said the offering yielded approximately $197.6 million. The funds were used to reduce the company's debt from $536.5 million to $338.9 million.
XO Concludes $200 Million Offering, Cuts Debt
According to XO, preliminary figures show that approximately 39.7 million shares were purchased in the offering, resulting in the total yield of $198.6 million. The company said the proceeds will be used to reduce its outstanding debt.
Qwest Acquires Allegiance Telecom for $300M
December 22, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Qwest Communications (qwest.com) announced last week that it has signed an agreement to purchase certain assets from Allegiance Telecom (algx.com), a provider of facilities?based telecommunications based in Dallas, Texas.
ProServe Chooses Redbus Interhouse for Colo
December 16, 2003 -- (WEB HOST INDUSTRY REVIEW) -- The Netherlands subsidiary of Redbus Interhouse (interhouse.net), a colocation and managed services provider based in England, said on Monday that Netherlands-based Web hosting company ProServe (proserve.nl)has migrated virtually its entire networking infrastructure, 200 customers and 2,000 servers to Redbus Interhouse's facility in Amsterdam.
Cable & Wireless Unlikely to Sell This Year
November 21, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Cable & Wireless (cw.com) CEO Franceso Caio said on Thursday it was unlikely that the embattled carrier would be able to shed its US Web hosting assets by the end of the year, according to a report published by Dow Jones Business News.
Qwest Bids $350 Million on Allegiance Telecom
November 21, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Telecommunications carrier Qwest (qwest.com) is offering $350 million in cash and assumed debt for Dallas-based Allegiance Telecom (algx.com), a provider of facilities-based telecommunications, according to a report published on internetnews.com.
XO Raises $161 Million in Rights Offering
November 18, 2003 -- (WEB HOST INDUSTRY REVIEW) -- XO Communications (xo.com) said yesterday
Qwest to Purchase Network Assets
November 17, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Qwest Communications (qwest.com) said
MCI Names Chief Ethics Officer
October 14, 2003 -- (WEB HOST INDUSTRY REVIEW) -- MCI (mci.com) said today it had appointed Nancy Higgins as executive vice president of ethics and business conduct and chief ethics officer. Higgins will report to CEO Michael Capellas.
TeleGeography: IP Transit Prices Continues to Decline
October 3, 2003 -- (WEB HOST INDUSTRY REVIEW) -- The median price for Internet protocol (IP) transit in U.S. and Western European cities slid 10-20 percent between the first two quarters of 2003, according to The Global Internet Geography Database and Report, a recent study published by research firm TeleGeography (telegeography.com). The report compiles market data and statistical coverage of the world?s largest Internet backbones, the traffic they carry and the carriers who operate them.
Worldcom Settles With Two Creditor Groups
September 10, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Embattled telco carrier Worldcom (worldcom.com) said yesterday it had reached a settlement with two groups of creditors who had opposed the company?s reorganization plan, according to several media reports.
Worldcom Fraud Settlement Approved
August 8, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Worldcom (worldcom.com) announced late Wednesday that it has won approval from the U.S. Bankruptcy Court for the Southern District of New York for its $750 million settlement with the U.S. Securities and Exchange Commission (SEC).
Worldcom Fraud Settlement Approved
August 8, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Worldcom (worldcom.com) announced late Wednesday that it has won approval from the U.S. Bankruptcy Court for the Southern District of New York for its $750 million settlement with the U.S. Securities and Exchange Commission (SEC).
Report: XO to Lay Off 500, Consolidate Operations
July 17, 2003 -- (WEB HOST INDUSTRY REVIEW) -- XO Communications, Inc. (xo.com) will lay off 500 employees by the end of the year in order to consolidate its operations, according to a report in the Washington Post. The 500 employees represent nearly 10 percent of the Reston, Virginia-based telecommunications carrier's work force.
STT Bid for Global Crossing Hits Roadblock
July 9, 2003 -- (WEB HOST INDUSTRY REVIEW) -- According to reports, Singapore Technologies Telemedia?s (STT) (st.com.sg) plan to purchase a majority stake in Global Crossing (globalcrossing.com) ran into a major roadblock late Tuesday as U.S. officials revealed the Pentagon and Department of Homeland Security had national security concerns about the deal.
XO: "Disappointed" With Extension Decision
July 3, 2003 -- (WEB HOST INDUSTRY REVIEW) -- XO Communications (xo.com) said this week that it was extremely disappointed with the U.S. Bankruptcy Court?s decision to extend Singapore Technologies Telemedia?s period of exclusivity, during which it has sole rights to negotiate the acquisition of Global Crossing (globalcrossing.com).
Server Central Selects AboveNet
July 2, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Server Central (severcentral.net) announced today that it has selected AboveNet (abovenet.com) as the newest IP transit carrier to complement its bandwidth offering in its Chicago data center.
XO Offers Revised Acquisition Proposal
June 27, 2003 -- (WEB HOST INDUSTRY REVIEW) -- XO Communications (xo.com) announced today it has offered a revised proposal in its efforts to acquire Global Crossing (globalcrossing.com).
XO Raises Offer For Global Crossing
June 25, 2003 -- (WEB HOST INDUSTRY REVIEW) -- XO Communications (xo.com) announced yesterday that it has tendered an "any and all" offer to buy Global Crossing?s (globalcrossing.com) bank debt for $22 per $100 worth of debt at face value, up from a previous bid of $21 per $100 worth of debt.
FASTNET to Be Delisted from Nasdaq
June 20, 2003 -- (WEB HOST INDUSTRY REVIEW) -- FASTNET (fast.net) announced today that the company?s common stock will be delisted from the Nasdaq smallcap market at the opening of business on Monday, June 23, 2003.
XO Appoints Counsel, Boosts Global Crossing Bid
June 13, 2003 -- (WEB HOST INDUSTRY REVIEW) -- XO Communications, Inc. (xo.com) announced yesterday it has appointed Lee Weiner as senior vice president and general counsel. Weiner will be entrusted with overseeing all the company's legal affairs.
Worldcom Report Details Digex Transaction
June 12, 2003 -- (WEB HOST INDUSTRY REVIEW) -- A report prepared by former attorney general Richard Thornburgh on WorldCom's accounting practices said the acquisition of Maryland-based hosting provider Digex was a particularly problematic purchase amid the company's prior transactions.
Hostway Offers Promotion for DataPeer Customers
June 12, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Hostway Corporation (hostway.com) announced yesterday it is offering a special Web hosting promotion for all former DataPeer customers.
DataPeer Bankruptcy Rumored
June 9, 2003 -- (WEB HOST INDUSTRY REVIEW) -- New Jersey-based Web hosting firm DataPeer appears to be on the verge of filing for chapter 7 bankruptcy, according to an alleged message from the company circulating on various Web sites.
XO Makes Bid to Acquire Global Crossing
June 2, 2003 -- (WEB HOST INDUSTRY REVIEW) -- XO Communications (xo.com) has made a $700 million bid to acquire Global Crossing Ltd. (globalcrossing.com), according to reports in the Washington Post.
Northern Light Search Engine Re-acquired
May 28, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Search engine Northern Light (northernlight.com) announced last week that it has been resurrected as separate company. C. David Seuss, former CEO of Northern Light, purchased the remaining assets of Northern Light at Divine?s bankruptcy auction held three weeks ago.
