December 24, 2003 |
Cingular Wireless may sell shares in an initial public offering next year and use proceeds to expand operations, people familiar with the situation said. Owners SBC Communications Inc. and BellSouth Corp. are considering a sale of some of Cingular's shares to the public and would keep majority control of the Atlanta-based carrier, said the sources, who asked to remain anonymous. Cingular delayed IPO plans two years ago amid falling prices in wireless shares.
September 27, 2003 |
Microsoft Corp.'s MSN division is ending a two-year deal with BellSouth Corp. in which MSN leased digital subscriber lines from the regional telephone company and resold them under the MSN name to customers wanting high-speed Internet access. Subscribers have until Nov. 12 to transfer their accounts to BellSouth's management or other carriers but will receive free MSN 8 software and services for a year, MSN group product manager Lisa Gurry said.
February 11, 2003 |
BellSouth Corp. won extension of a court order preventing Vice Chairman Gary Forsee from becoming chief executive of rival telephone company Sprint Corp., with a judge ordering the dispute to be resolved in arbitration. The restraining order against Forsee, obtained by BellSouth in a Georgia court Jan. 31, was extended 30 days by the judge, according to legal documents.
February 3, 2003 |
A state court judge in Georgia has granted BellSouth Corp. a temporary restraining order preventing its vice chairman, Gary D. Forsee, from accepting an offer to be chairman and chief executive of Sprint Corp. A Fulton County Superior Court judge issued the order over the weekend after the company filed the request late Friday, BellSouth spokesman Jeff Battcher said Sunday. Sprint CEO William Esrey will stay in his job for now, Sprint said Sunday in a statement. The Overland Park, Kan.
August 9, 2002 |
The nation's three biggest regional telephone companies are seeking government approval to demand millions of dollars in upfront payments from financially troubled carriers that use their networks. The requests from SBC Communications Inc., Verizon Communications Inc. and BellSouth Corp. are receiving serious consideration from the Federal Communications Commission, which already allows long-distance carriers such as AT&T Corp., WorldCom Inc. and Sprint Corp.
July 23, 2002 |
Shares of BellSouth Corp. skidded 18% to a multiyear low Monday after the company posted disappointing second-quarter earnings and said it saw no relief for the struggling telecommunications sector. The biggest provider of local phone service in the Southeast said its net income for the quarter slumped 67% to $293 million, or 16 cents a share, from $880 million, or 47 cents, a year earlier. Sales slipped to $5.78 billion, down 3.4% from $5.99 billion.
May 18, 2002 |
BellSouth Corp. said it would eliminate 4,000 to 5,000 jobs after sales fell. The company said it would have expenses of $250 million to $300million to cut as much as 5.8% of its staff. Most of the reductions are expected to come from voluntary departures. The company's payroll was 85,742 in March. Shares of Atlanta-based BellSouth fell 31 cents to $33.19 on the New York Stock Exchange.
January 16, 2002 |
BellSouth Corp. agreed to pay $150,000 to settle a Securities and Exchange Commission case charging the telecommunications company with improper accounting and other questionable business practices at two Latin American subsidiaries. The commission's complaint alleged that managers at BellSouth's Venezuelan wireless subsidiary, Telcel, paid $10.8 million to six foreign companies and recorded the money as payments for legitimate business services when no services were provided.
November 28, 2001 |
BellSouth Corp. named Vice Chairman Gary Forsee to a new position heading its U.S. operations, in a move to strengthen sales of services, such as fast Internet access and long-distance calling. Forsee, 51, will take on the responsibilities of Jere Drummond, 62, and Charlie Coe, 53, who are retiring, the phone company said. Ralph de la Vega, president of Broadband and Internet Services, will become president of BellSouth Latin America, reporting to Chief Executive Duane Ackerman.