November 16, 1999
MCI WorldCom Inc. said the Justice Department asked for additional information about its planned $129-billion purchase of rival Sprint Corp. The request signaled that federal antitrust enforcers will closely examine whether the proposed combination might reduce competition in the market for long-distance calls. An MCI WorldCom spokesman told Bloomberg News that the request had been expected.
April 28, 1999
* CAI Wireless Systems Inc. said it completed an agreement to be acquired by MCI WorldCom Inc. at a price of $476 million--17% higher than first announced. The revised deal provides for CAI holders to receive $28 a share in cash, up from the $24 a share WorldCom offered in the tentative deal announced 10 days ago. The wireless licenses controlled by CAI Wireless will allow MCI WorldCom to reach customers' homes or businesses without going through the Baby Bells' local phone networks.
August 23, 1999 |
One month after pressuring the Internet Corp. for Assigned Names and Numbers to drop a plan to charge domain name registrars a user fee of up to $1 per registration, U.S. Rep. Thomas J. Bliley (R-Va.) is questioning the nonprofit group's ability to become financially self-sufficient.
November 4, 1999
* Sprint Corp., which is being acquired by rival MCI WorldCom Inc., said it will sell packages of local and long-distance phone service in New York as local service provider Bell Atlantic Corp. prepares to enter the long-distance market. The plans will be available next week. * Sega Enterprises Ltd., the No. 3 maker of video-game console systems, said it will sell 1.5 million units of its new Dreamcast device in the U.S. by year-end, 50% more than previously forecast.
November 4, 1999 |
A House subcommittee voted 5 to 3 to ban sports and casino gambling via the Internet while shielding Internet providers such as America Online Inc., AT&T Corp. and MCI WorldCom Inc. from liability. Under the measure, approved by the House Judiciary subcommittee on crime, it would be illegal to place or receive bets on the Internet.
November 7, 1998 |
Incomnet Inc., the Irvine telecommunications and network marketer, said Friday that it received a $5-million loan that it will use to repay two of its largest creditors. Incomnet's subsidiary, Irvine-based National Telephone & Communications, is in default to MCI WorldCom Inc. and First Bank & Trust of Newport Beach. First Bank and WorldCom have agreed not to take any action against NTC until Dec. 15. Neither company could be reached for comment Friday.