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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.
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.
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.
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).
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 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.
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.
Data Return Re-launched, Founder Returns
May 15, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Saratoga Partners (saratogapartners.com), a New York Investment firm has secured a $28 million bid to acquire the managed hosting business of Divine, Inc. (divine.com) in a bankruptcy court auction.
FatWire Acquires divine's Content Management Business
May 14, 2003 -- (WEB HOST INDUSTRY REVIEW) -- FatWire Software (fatwire.com) yesterday announced it had acquired divine?s (divine.com) content management business at a bankruptcy auction in Boston.
WorldCom Cuts 5,000 Jobs in Restructuring
February 4, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Struggling carrier WorldCom (WorldCom.com) announced on Monday that it would cut 5,000 jobs as part of a plan to cut the company's annual costs by $2.5 billion, a major milestone in the 100-day plan laid out by the company several weeks ago.
Inflow Acquires Interliant Customers
January 20, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Managed Web hosting and IT services provider Inflow Inc. (Inflow.com) announced on Monday that it has acquired certain customers of managed infrastructure services provider Interliant, currently involved in reorganization under Chapter 11.
XO Emerges from Bankruptcy
January 20, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Broadband communications service provider XO Communications Inc. (XO.com) announced on Friday that it has completed its restructuring plan and emerged from Chapter 11, significantly improving its capital structure.
Genuity Files for Bankruptcy, Level 3 to buy assets
November 28, 2002 -- (WEB HOST INDUSTRY REVIEW) -- Level 3 Communications, Inc. and Genuity Inc announced that they have signed a definitive agreement under which Level 3 will acquire substantially all of
Interliant Obtains Debtor-in-Possession Financing
October 18, 2002 -- (WEB HOST INDUSTRY REVIEW) -- The U.S. Bankruptcy Court for the Southern District of New York has approved
Williams Communications Emerges from Bankruptcy
October 17, 2002 -- (WEB HOST INDUSTRY REVIEW) -- High-speed communications services company Williams Communications Group
Interliant Secures DIP Financing
September 27, 2002 -- (WEB HOST INDUSTRY REVIEW) -- Managed infrastructure solution provider Interliant Inc. (interliant.com) announced on Thursday that the company has closed on its Debtor-in-Posession financing with New York-based lender Access Capital Inc.
SEC Rejects Global Crossing Settlement
August 29, 2002 -- (WEB HOST INDUSTRY REVIEW) -- The Securities and Exchange Commission reportedly rejected a settlement offer from Global Crossing this week, saying the company?s offer only addressed the company and not specific individuals.
Interliant Files for Bankruptcy Protection
August 7, 2002 -- (WEB HOST INDUSTRY REVIEW) -- Interliant Inc. (Interliant.com) announced this week that it and all its US subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the US Bankruptcy Code.
WebVision Enters Managed Hosting Business
August 5, 2002 -- (WEB HOST INDUSTRY REVIEW) -- WebVision Corporation (webvision.com) recently announced that it has entered the managed hosting business, using the former Fourthstage Inc. data center it acquired in Austin, Texas to offer services on the Microsoft.NET platform.
WorldCom Bankruptcy Won't Affect Backbone
July 24, 2002 -- (WEB HOST INDUSTRY REVIEW) -- According to experts, the weekend bankruptcy filing of communications carrier WorldCom Inc., which carries half the world?s Internet traffic, is unlikely to slow Internet performance or cause outages.
WorldCom Files for Record Bankruptcy
July 22, 2002 -- (WEB HOST INDUSTRY REVIEW) -- Suffocating under an enormous debt and disgraced by a $3.85 billion accounting scandal, WorldCom Inc. entered the largest bankruptcy filing in U.S. history on Sunday.
Yipes Emerges from Chapter 11 with New Funding
July 16, 2002 -- (WEB HOST INDUSTRY REVIEW) -- Just a few months after filing for bankruptcy protection, metro Ethernet provider Yipes (Yipes.com) emerged from Chapter 11 free of debt, with new financing and a new name.
XO Addresses Uncertainty With New Flexibility
July 3, 2002 -- (WEB HOST INDUSTRY REVIEW) -- In consideration of its own Chapter 11 restructuring, and the troubled telecommunications market, carrier XP Communications Inc. (XO.com) announced on Tuesday that it has unveiled a suite of programs designed to provide XO customers with enhanced flexibility and options.
XO Communications Files for Chapter 11 Protection
June 17, 2002 -- (WEB HOST INDUSTRY REVIEW) -- Broadband communications services provider XO Communications (XO.com) announced on Monday that it has filed a voluntary petition to reorganize under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy court for the Southern District of New York.
ClearBlue Acquires AppliedTheory Hosting Assets
June 7, 2002 -- (WEB HOST INDUSTRY REVIEW) -- Outsourced IT management firm ClearBlue Technologies (ClearBlue.com) said today it had successfully purchased selected assets of AppliedTheory in a bankruptcy auction held in late may.
