June 30, 1998 |
AT&T Corp. agreed Monday to sell its paging unit to Metrocall Inc. for $205 million in cash and preferred stock, as the nation's largest telecommunications company continues to shed businesses that are not central to its growth plans. The deal would allow Metrocall to expand its reach into next-generation services, acquire about 1.2 million subscribers and gain an exclusive five-year distribution agreement with AT&T. "This is a very attractive deal for Metrocall.
July 20, 2000 |
Metrocall Inc., the third-largest U.S. paging company, said it offered about $824 million in cash and stock for Paging Network Inc., 14% more than Arch Communications Group Inc.'s bid. Metrocall offered $100 million in cash and $727.5 million in stock for Dallas-based PageNet and would assume $746 million of PageNet debt. Metrocall abandoned plans less than a month ago to top Arch's $1.36-billion stock and debt offer for PageNet.
November 19, 1998 |
Eleven paging companies serving more than 30 million customers said they agreed to a set of service standards that will allow them to transmit customized Internet-based information to paging devices. Paging companies will be able to provide more specialized packages of information from the World Wide Web to customers' hand-held paging devices.
November 9, 1999 |
The two largest U.S. paging companies, Paging Network Inc. and Arch Communications Group Inc., on Monday agreed to merge in a last-ditch bid to survive in a business pressured by intense competition and outmoded technology. The companies did not give a value for the deal, but based on the various conversion ratios and Arch's closing stock price on Friday of $6.81, the combined companies would have a stock market value of about $1.12 billion.
May 21, 1998 |
On Wall Street, at least, the sky didn't fall on the paging and satellite companies Wednesday in response to the massive service disruptions caused by the errant Galaxy 4 satellite. Share prices of leading paging concerns, such as industry leader Paging Network Inc., and of the major satellite operators, including Galaxy 4 owner PanAmSat Corp., suffered only modest losses.
September 13, 2001 |
Morgan Stanley Dean Witter & Co. Chairman Philip Purcell said Wednesday that the "the vast majority" of its 3,500 World Trade Center employees survived the terrorist attack on the buildings, as other firms searched for missing workers. More than a day after two hijacked planes slammed into the World Trade Center's twin towers, turning a New York landmark into a pile of rubble, banks, brokerages and financial firms said they still cannot account for about 3,000 employees.