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.

Other Communications Equipment Manufacturing, Fiber Optics Systems & Equip, Fiber optic networks

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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.

Wired Telecommunications Carriers, Long Distance Telephone Svc, Liberty Media Corp.

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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.

Cable and Other Program Distribution, Direct Broadcast Satellite TV Providers, DirecTV

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