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BUSINESS
January 14, 1994 | LESLIE HELM, TIMES STAFF WRITER
In the latest of a string of cutbacks that reflect a painful metamorphosis in the telecommunications industry, GTE Corp. announced Thursday that it will reduce the work force of its telephone operations by 23%, or 17,000 jobs, over the next three years. The Stamford, Conn.-based company said the restructuring will result in a $1.8-billion pretax charge in the fourth quarter that ended Dec. 31.
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BUSINESS
July 29, 2000 | From Reuters
Verizon Communications, the local telephone company formed by the merger of Bell Atlantic Corp. and GTE Corp., said Friday that it wants to sell GTE's cable television operations so it can focus on new ways to distribute high-speed video services. Verizon said that for a month it has been collecting offers from companies interested in buying GTE's cable business, which serves 123,000 customers in California, Florida and Hawaii. It has not set a deadline for the sale.
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BUSINESS
December 7, 1993 | From Times Staff and Wire Reports
GTE Loses Cable TV Project Appeal: The company's request to continue operating a cable system in Cerritos was rejected when the Federal Communications Commission said GTE Corp. failed to demonstrate that it would suffer irreparable harm if a stay of its earlier ruling was not granted. GTE had been testing video services under an FCC waiver since June, 1989.
BUSINESS
July 4, 2000 | Bloomberg News
Verizon Communications, the telephone company formed last week when Bell Atlantic Corp. bought GTE Corp., is trying to sell GTE cable systems in California, Hawaii and Florida valued at an estimated $615 million. GTE had recently hired investment bank Goldman, Sachs & Co. to help it sell the systems, which have 123,000 subscribers, said spokeswoman Bobbi Hennessey. Other U.S. cable systems have recently been sold for about $5,000 per subscriber.
CALIFORNIA | LOCAL
July 3, 2000 | Alex Murashko, (714) 966-5974
A proposal to change the vacant Sunset Trailer Park and adjacent property owned by GTE Corp. from commercial to residential zoning is scheduled for discussion in the Planning Commission meeting at 6:30 p.m. Wednesday. GTE is negotiating a sale with CenterStone Development Co., which plans to build eight to 12 multiple units per acre on the eight-acre site. The property is on the south side of Westminster Boulevard between Nancy Lee Drive and Rondeau Street.
BUSINESS
July 1, 2000 | Bloomberg News
Bell Atlantic Corp. said it completed its $60-billion purchase of GTE Corp. to create Verizon Communications, the largest local telephone company in the U.S. Regulators approved the transaction earlier this month on the condition that the companies sell some overlapping wireless properties.
NEWS
June 29, 2000 | ELIZABETH DOUGLASS, TIMES STAFF WRITER
GTE Corp. gave millions of dollars worth of fiber-optic and other communications services to a host of Hollywood notables over several years in an illegal effort to win big contracts in the entertainment industry, according to interviews and documents obtained by The Times.
BUSINESS
June 20, 2000 | ELIZABETH DOUGLASS, TIMES STAFF WRITER
AT&T Wireless on Monday moved to eliminate critical gaps in its mobile phone service by agreeing to buy existing networks in San Francisco, San Diego and Houston for a combined $3.3 billion in cash. Under the three purchase deals, AT&T will buy the systems from Vodafone AirTouch, GTE Corp. and PrimeCo PCS, a Bell Atlantic Corp. venture.
BUSINESS
June 17, 2000 | Reuters
Bell Atlantic Corp. and GTE Corp. won regulatory approval to merge in a $65-billion deal to create Verizon Communications, the nation's largest local and wireless telephone company. The Federal Communications Commission attached 25 conditions to its approval of the merger between Bell Atlantic, a local telephone company, and GTE, a long-distance, wireless and local carrier. The conditions include a requirement that the new company restrict ownership in GTE's Internet assets, Genuity Inc., to 9.
CALIFORNIA | LOCAL
June 13, 2000
O.J. Simpson on Monday lost a second bid to obtain records he says can pinpoint the time his ex-wife spoke on the phone with her parents on the night--exactly six years ago Monday--that she and a friend were slain on the steps of her Brentwood condo. Simpson was acquitted of murdering Nicole Brown Simpson and Ronald Lyle Goldman but was held liable for their deaths in a subsequent civil trial. He was seeking the phone records, which he says prove his innocence, to help overturn the $33.
BUSINESS
June 10, 2000 | Bloomberg News
* Bell Atlantic Corp. is close to winning U.S. regulatory approval to buy GTE Corp. for $79.5 billion after agreeing to additional concessions that will limit profit from GTE's Internet unit, analysts said. Bell Atlantic and GTE filed a plan at the Federal Communications Commission, agreeing to relinquish any gains in the value of Genuity Inc., the Internet unit, in states where the company lacks authority to sell long-distance service.
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