December 25, 2002 |
The Justice Department and Federal Trade Commission have approved Level 3 Communications Inc.'s proposed acquisition of Internet backbone company Genuity Inc., which is under bankruptcy protection. The approval was one of the closing conditions of the transaction, in which Broomfield, Colo.-based Level 3 will pay as much as $242 million in cash and assume much of Genuity's long-term operating agreements. Genuity would operate as a separate business, still based in Woburn, Mass.
May 2, 2006 |
Level 3 Communications Inc. agreed to buy closely held TelCove Inc. for $1.1 billion to tap surging use of fiber-optic telephone and data networks in the Eastern U.S. The price includes $637 million in stock and $445 million in cash, Broomfield, Colo.-based Level 3 said. The company would assume $155.5 million in debt. TelCove has lines in markets such as Washington and New York, helping Level 3 compete for customers with rivals such as Verizon Communications Inc.
July 21, 1998 |
Level 3 Communications Inc. of Omaha agreed to sell capacity on its nationwide fiber-optic network to Nextel Communications Inc. and other affiliates of entrepreneur Craig McCaw for $700 million. The investment will help Level 3 pay for the $2.2-billion, 15,000-mile network, which it plans to have operating by 2001. Level 3 also declared a 2-for-1 split of its shares, whose price has more than doubled this year.
June 27, 2001 |
Level 3 Communications Inc. said its high-speed network will carry traffic for six Microsoft Corp. Internet services for the next three years. Financial terms weren't disclosed. MSN Hotmail, a free e-mail service, and the MSN Messenger instant-message product are among Microsoft services to be carried on Level 3's fiber-optic network in North America, said David Samuels, Level 3 senior director for global IP services.
December 27, 2006 |
Level 3 Communications Inc., an unprofitable phone and data-network operator, agreed Tuesday to buy an Internet services business of Savvis Inc. for $135 million. The Savvis unit, which is based in Thousand Oaks, brought in sales of about $15 million in the nine months ended Sept. 30, Broomfield, Colo.-based Level 3 said. The purchase is Level 3's seventh in the last year. The company is increasing the services offered over its fiber optic network.
April 24, 2002 |
Verizon Communications Inc., the largest local-telephone company, posted a first-quarter loss after one-time write-offs and adjusted its 2002 forecast, saying it does not expect a U.S. economic turnaround until next year. The company reported a loss of $501 million, or 18 cents a share, on revenue of $16.4 billion, down from net income of $1.57 billion, or 58 cents a share, on revenue of $16.3billion a year earlier. Excluding one-time write-offs, operating profit was flat at 72 cents a share.