McCaw to buy NexTel stake of up to 23.5%
Article Abstract:
Craig O. McCaw, wireless industry pioneer, and his family have reached an agreement with NexTel Communications Inc to purchase up to $23.5% of the struggling wireless company for $1.1 billion to be paid in stages over six years. Surprisingly, NexTel will give McCaw wide-ranging control over the company's operations and direction. McCaw will not hold an executive position with the company. Instead, he will name and run an 'operations committee' to which NexTel CEO Wayland Hicks will report. The move by McCaw is seen as a way to remain involved in the wireless industry. McCaw rose to prominence when he built up and sold the country's number one cellular company to AT&T for $11.5 billion. Some claim it is an unlikely marriage between the radio dispatch service supplier and the visionary superstar.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1995
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Rockwell plans to sell transmission unit to France's Alcatel N.V. for $625 million
Article Abstract:
Alcatel NV's $625 million acquisition of Rockwell International Corp's Network Transmission Systems Division will gain the French company a 23 percent share of the $7.5 billion US fiber-optic transmission equipment market. Competition for the fiber-optic market is focused on Sonet, or Synchronous Optical Network, the new industry standard. Alcatel was one of the first suppliers of Sonet equipment and had contracts from Bell Atlantic Corp, US West and Ameritech. With its recent acquisition, Alcatel got a good US-based distribution and marketing organization. The Rockwell unit markets telephone communications network equipment, such as fiber optic transmission systems, microwave transmission systems, digital multiplex products and digital cross-connect systems.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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GTE agrees to buy BBN for $616 million
Article Abstract:
GTE is acquiring BBN for $616 million as part of the company's attack on the data and local-phone markets. Executives at GTE expect the company's short-term earnings growth to slow during 1997 and 1998, then pick up again by the end of 1999. A revenue growth of $34 billion to $38 billion has been predicted by the executives, which is a significant increase over the company's 1996 revenue of $21.3 billion. GTE's stock fell 5% when details of the acquisition were announced, down $2.375 to $45 a share. BBN's stock rose 28% to $28.875, up $6.25 when the announcement was made. The majority of BBN's work force is expected to go to GTE, including the executive team. The future position of BBN Chmn George Conrades at GTE is still being negotiated.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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