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BUSINESS
June 2, 1997 | Jennifer Oldham
Fast-growing SmarTalk Teleservices Inc. announced it would acquire Orlando, Fla.-based GTI Telecom Inc. for $70 million. The move would boost the Los Angeles-based prepaid telephone calling card firm's market share in the retail drug and grocery segments. SmarTalk also would add GTI's 4,000 locations, including Ralphs Supermarkets, to its 9,000 storefronts where customers can buy cards at the checkout counter.
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BUSINESS
May 23, 2003 | From Associated Press
PricewaterhouseCoopers, the nation's largest accounting firm, has agreed to pay $1 million to settle federal regulators' allegations that it engaged in improper professional conduct in its audit work -- the second time in less than a year it has been cited for that alleged infraction. PricewaterhouseCoopers neither admitted nor denied wrongdoing in the settlement, which the Securities and Exchange Commission announced Thursday.
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BUSINESS
August 1, 1997 | (Debora Vrana)
Los Angeles-based SmarTalk Teleservices Inc. confirmed it has signed an agreement to purchase an Ohio firm for about $65 million in stock, the third major acquisition by the prepaid telephone calling card company in two months. SmarTalk plans to purchase privately held ConQuest Telecommunications Services Corp., a Dublin, Ohio-based developer of prepaid phone cards with about 200 employees. SmarTalk makes and distributes prepaid phone cards to such major retailers as Office Depot Inc.
BUSINESS
April 3, 1998 | From Bloomberg News
Shares of SmarTalk TeleServices Inc. plunged 28% on Thursday after the distributor of prepaid phone cards said it will post a first-quarter loss because of higher costs and the delay of a new product. SmarTalk stock fell $8.69 to close at $22.44 on Nasdaq. Los Angeles-based SmarTalk is facing higher costs and delays in gearing up new outlets to sell its calling cards.
BUSINESS
April 3, 1998 | From Bloomberg News
Shares of SmarTalk TeleServices Inc. plunged 28% on Thursday after the distributor of prepaid phone cards said it will post a first-quarter loss because of higher costs and the delay of a new product. SmarTalk stock fell $8.69 to close at $22.44 on Nasdaq. Los Angeles-based SmarTalk is facing higher costs and delays in gearing up new outlets to sell its calling cards.
BUSINESS
July 31, 1997 | DEBORA VRANA, TIMES STAFF WRITER
Significantly boosting its national presence, SmarTalk Teleservices Inc. is expected to announce today that it has signed an agreement to purchase an Ohio firm for about $65 million in stock, the third major acquisition by the Los Angeles company in two months. SmarTalk, the prepaid telephone calling-card firm founded in a room over a Bel-Air garage almost three years ago, has become one of the fastest-growing firms in California, in part through its aggressive acquisitions.
BUSINESS
May 23, 2003 | From Associated Press
PricewaterhouseCoopers, the nation's largest accounting firm, has agreed to pay $1 million to settle federal regulators' allegations that it engaged in improper professional conduct in its audit work -- the second time in less than a year it has been cited for that alleged infraction. PricewaterhouseCoopers neither admitted nor denied wrongdoing in the settlement, which the Securities and Exchange Commission announced Thursday.
BUSINESS
October 24, 1997 | Jennifer Oldham
In its fourth major acquisition this year, Los Angeles-based SmarTalk Teleservices Inc. has agreed to buy Frontier Corp.'s retail prepaid phone card business for $35 million in cash. Rochester, N.Y.-based Frontier, the nation's fifth-largest long-distance company, distributes its prepaid cards in 4,000 retail outlets, including King Soopers supermarkets, Qwik Shops and Wegmans. SmarTalk makes and distributes prepaid calling cards to major retailers, including Ralphs and Office Depot.
BUSINESS
May 29, 1997 | JENNIFER OLDHAM, TIMES STAFF WRITER
In a move to broaden its reach, fast-growing SmarTalk Teleservices Inc. of Los Angeles said Wednesday that it will acquire SmarTel Communications Inc. of Boston for an undisclosed sum. SmarTalk, founded in a room over a Bel-Air garage two years ago, focuses on the retail segment of the booming prepaid calling card industry. SmarTel, a privately held company, specializes in selling prepaid calling cards to companies to use in promotions.
BUSINESS
August 1, 1997 | (Debora Vrana)
Los Angeles-based SmarTalk Teleservices Inc. confirmed it has signed an agreement to purchase an Ohio firm for about $65 million in stock, the third major acquisition by the prepaid telephone calling card company in two months. SmarTalk plans to purchase privately held ConQuest Telecommunications Services Corp., a Dublin, Ohio-based developer of prepaid phone cards with about 200 employees. SmarTalk makes and distributes prepaid phone cards to such major retailers as Office Depot Inc.
BUSINESS
July 31, 1997 | DEBORA VRANA, TIMES STAFF WRITER
Significantly boosting its national presence, SmarTalk Teleservices Inc. is expected to announce today that it has signed an agreement to purchase an Ohio firm for about $65 million in stock, the third major acquisition by the Los Angeles company in two months. SmarTalk, the prepaid telephone calling-card firm founded in a room over a Bel-Air garage almost three years ago, has become one of the fastest-growing firms in California, in part through its aggressive acquisitions.
BUSINESS
June 2, 1997 | Jennifer Oldham
Fast-growing SmarTalk Teleservices Inc. announced it would acquire Orlando, Fla.-based GTI Telecom Inc. for $70 million. The move would boost the Los Angeles-based prepaid telephone calling card firm's market share in the retail drug and grocery segments. SmarTalk also would add GTI's 4,000 locations, including Ralphs Supermarkets, to its 9,000 storefronts where customers can buy cards at the checkout counter.
BUSINESS
November 13, 1997
Santa Monica-based Metro-Goldwyn-Mayer Inc. sold shares in a $180-million initial public offering intended to go toward reducing the film studio's debt load, said Merrill Lynch & Co., which managed the sale. The 9 million shares sold were at the bottom of the expected range of $20 to $23 a share. The studio has a market value of about $1.3 billion, according to the IPO filing. . . . Los Angeles-based SmarTalk TeleServices Inc.
BUSINESS
December 23, 1997 | Bloomberg News
Los Angeles-based SmarTalk TeleServices Inc., one of the largest providers of prepaid calling cards in the U.S., said it will buy American Express Co.'s American Express Telecom unit as part of a $44-million cash transaction. American Express Telecom, based in Salt Lake City, sells its prepaid long-distance phone cards at more than 14,000 locations.
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