Struggling Lucent could raise up to $6B by selling fiber-optic unit
Article Abstract:
Lucent Technologies could solve its financial problems by selling its fiber-optic unit for as much as $6 billion. Speaking before dissatisfied shareholders at the company's annual shareholder meeting, Lucent CEO Henry Schacht said he expects the company will be able to secure new lines of credit to sustain its daily operations. Schacht added that Lucent's board is also studying the possibility of suspending its 2-cent quarterly dividend, which amounts to $270 million each year, to reduce costs.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
AT&T says Liberty Media spinoff tax free
Article Abstract:
AT and T Corp will not have to pay taxes when it spins off Liberty Media, according to the IRS. AT and T was concerned that it might have to pay as much as $2 billion in taxes for selling the unit run by cable entrepreneur John Malone. But AT and T convinced the agency that the spinoff reflected a change in corporate strategy and was not being done just to turn a profit. The spinoff also satisfies a Federal Communications Commission order for AT and T to reduce its cable reach.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
News Corp. nears deal to acquire DirecTV
Article Abstract:
News Corp CEO Rupert Murdoch is close to acquiring DirectTV, the leading satellite broadcaster in the US. The multi-stage deal calls for Murdoch to contribute his global satellite assets, called Sky global Networks, to Hughes in exchange for a 35% stake in the company and operating control. Microsoft is willing to invest around $4 billion for a share of the deal. Murdoch sees DirectTV as the missing piece in his satellite empire.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Fleeing the promised land. The learning fields. TV by cons, for cons
- Abstracts: Even a senator could fail this school test. Law to protect kids on line faces court test next week. EPA bans pesticide as harmful to kids
- Abstracts: "You could get raped". A song for the oppressed. A war's hidden tragedy
- Abstracts: Aging populace behind jump in cancer rates. Economy on a roll, Martin says
- Abstracts: Alberta to slow VLT machines. Alberta region found to be economic dynamo