Paging unit to be sold by BellSouth: Mobilemedia spending $945 million for service

Article Abstract:

Mobilemedia Communications will buy BellSouth's Mobilecomm subsidiary for $945 million in the largest acquisition to date in the paging industry. Mobilemedia, which already has 2.1 million customers, will add Mobilecomm's 1.7 million customers to become the second largest paging company. The acquisition includes Mobilemedia's taking over a two-way, nationwide, narrowband personal communications services license. Regulators must approve the transaction, which should be completed in 1996. Mobilemedia will add MobileComm's retail distribution to its own direct distribution strategy. The newly enlarged company will run two wireless networks spanning the US and anticipates yearly sales of over $560 million. BellSouth should earn $350 million after taxes and will act as a reseller for Mobilemedia's services. Analysts say it makes sense for the telecommunications company to shed responsibility for maintaining network equipment.

Wireless network, Wireless LANs, Telecommunications systems, BellSouth Corp., BLS, Radio pagers, Pagers (Communication devices), Company Business And Marketing, MobileMedia Communications Inc., MCCAB

---

17 cited in insider trading; acquisition plans of AT&T involved

Article Abstract:

The Securities and Exchange Commission (SEC) is charging 17 people with insider trading for passing confidential information about planned acquisitions by AT&T. The acquisition plans concerned five companies and the people charged in the case made an estimated $2.6 million from stock transactions based on the information. SEC officials say that this case involves a significant amount of money and also is one of the largest cases in terms of the number of people involved. The case centers on two former employees of AT&T named Charles Brumfield, who worked as a vice president of human services, and Thomas Alger, his subordinate. Brumfield and Alger allegedly passed information about planned AT&T acquisitions of several companies to friends and family members who then used the information to buy and sell shares in the targeted companies.

Cases, Telephone company, Telephone companies, T, Insider trading in securities, Insider trading (Securities), Industry legal issue, United States. Securities and Exchange Commission, American Telephone and Telegraph Co., Lawsuit Litigation

---

Surveying the shifting phone-deal landscape

Article Abstract:

Both Global Crossing and Qwest Communications International have bid for US West and Frontier Corp. Global Crossing's primary assets are trans-Atlantic and -Pacific telecom cables. Qwest has built up a fiber optic network in the US for high speed data service. Each sees the purchase of regional phone company US West as a means of providing 'last mile' service without having to build the infrastructure themselves. Bell South owns 10 percent of Qwest and may have some say in any deal it makes.

United States, Global Crossing Ltd., U S WEST Inc., GBLX, USW, Qwest Communications International Inc., QWST, FRO, Frontier Corp.

Similar abstracts:

• Abstracts: GOP senators expect to introduce plan for Bells to offer long-distance service. Telecom deregulation spawns rival bills; House committees differ on Justice Agency role in Baby Bells' future
• Abstracts: Cruising inside World Wide Web with a browser. As Cheyenne fends off bid a war of words escalates
• Abstracts: Novell is said to be selling its Unix division to Santa Cruz
• Abstracts: Sun Microsystems pours some new Java; programming language to run on servers, appliances. Microsoft starts selling Exchange Server in fierce challenge to IBM's Lotus Notes
• Abstracts: Gold silver mining industry. Gold silver. Gold/silver

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.