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-------------------------------------------------- Telecommunications Reports presents.... TR DAILY Oct. 19, 2001 -------------------------------------------------- PLEASE NOTE: This electronic publication is copyrighted by Telecommunications Reports International. Redistribution or retransmission of any part of this electronic publication -- either internally or externally -- is strictly prohibited. Violation will be cause for immediate termination of your subscription and liability for damages. You may print out one hard copy for your personal use. If you are interested in having this publication sent to colleagues at your company, additional authorized recipients may be added to your subscription for a fee. Call Subscriber Services, at (800) 822-6338, or send an e-mail to customerservice@tr.com for more details. If you prefer not to receive TR Daily, please reply to customerservice@tr.com. -------------------------------------------------- ***See Monday's TR for an On-the-Record interview with Harold R. MacKenzie, vice president-software at Layer2 Networks, Inc. He discusses ways to speed deployment of broadband services. Table Of Contents Click here for the full issue: http://www.tr.com/online/trd/2001/td101901/index.htm=20 U.S. ASKS SUPREME COURT TO REVIEW NextWave DECISION http://www.tr.com/online/trd/2001/td101901/Td101901.htm MISSOURI PSC SUSPENDS SW BELL's LONG DISTANCE TARIFFS http://www.tr.com/online/trd/2001/td101901/Td101901-01.htm DESPITE LAPSE OF `NET TAX BAN, STATES NOT EXPECTED TO RUSH TO TAX http://www.tr.com/online/trd/2001/td101901/Td101901-02.htm QWEST BOOSTS STAKE IN KPNQwest, LEANS AGAINST EXERCISING OPTION TO BECOME MAJORITY OWNER http://www.tr.com/online/trd/2001/td101901/Td101901-03.htm NOKIA, SCIENTIFIC-ATLANTA BUCK TREND, MANAGE TO POST PROFITS IN THIRD QUARTER http://www.tr.com/online/trd/2001/td101901/Td101901-04.htm CUSHIONED BY EARLIER WARNINGS, ANALYSTS GET WHAT THEY EXPECT FROM NORTEL, CORNING http://www.tr.com/online/trd/2001/td101901/Td101901-05.htm TELECOM EARNINGS ROUNDUP=20 http://www.tr.com/online/trd/2001/td101901/Td101901-06.htm TELECOM SECTOR WEEKLY FUNDING ROUNDUP http://www.tr.com/online/trd/2001/td101901/Td101901-07.htm NEWS IN BRIEF http://www.tr.com/online/trd/2001/td101901/Td101901-08.htm ***************************************************************** U.S. ASKS SUPREME COURT TO REVIEW NextWave DECISION As negotiations continued to settle the dispute surrounding NextWave Telecom, Inc., the federal government today asked the U.S. Supreme Court to review a lower court ruling that the FCC illegally reclaimed the carrier's "C" and "F" block PCS (personal communica- tions service) licenses. The U.S. Solicitor General's Office filed a petition for a writ of certiorari with the Supreme Court. Today was the deadline for the filing, which sources said was designed to preserve the FCC's options in the case. The U.S. Court of Appeals in Washington ruled in June that the FCC illegally reclaimed NextWave's licenses while the company was under the protection of a bankruptcy court (TR, June 25). Meanwhile, several wireless carriers that bid on NextWave's spectrum at an auction earlier this year appeared to be nearing an agreement with NextWave and the FCC that could settle the 5-year- old dispute. The Office of Management and Budget also is participating in the negotiations. Under the agreement, NextWave would net about $5 billion and the U.S. Treasury would get about $11 billion, according to sources. In another development, NextWave said it would seek a continuance of an Oct. 22 hearing before the U.S. Bankruptcy Court for the Southern District of New York (White Plains). NextWave wants the hearing rescheduled for Nov. 1. It would be the third such delay of the hearing. At the hearing, the court will consider the ade- quacy of NextWave's disclosure statement accompanying its bankruptcy reorganization plan and whether to approve NextWave's technology cooperation and subscription agreements with QUALCOMM, Inc. Also, in a filing with the bankruptcy court, the FCC this week asked NextWave to turn over numerous documents and information related to its reorganization, including information on its investors, business partners, and business agreements, as well as cash flow, revenue, income, costs, and subscribership forecasts.=20 The Commission also wants documents that support NextWave's asser- tions that its business plan as a "carrier's carrier," selling services on a wholesale basis to other providers, would be successful. -- Paul Kirby, pkirby@tr.com ***************************************************************** MISSOURI PSC SUSPENDS SW BELL's LONG DISTANCE TARIFFS The Missouri Public Service Commission has suspended two tariffs filed by subsidiaries of Southwestern Bell Communications Services, Inc., until Feb. 17, 2002. At a prehearing conference today, the commission said it would review the tariffs, which were part of the subsidiaries' applications for certificates to offer long distance service. Southwestern Bell Long Distance and SBC Long Distance applied for the certificates. The commission's tariff suspension could delay SW Bell's entry into the long distance market. The FCC has until Nov. 18 to approve or reject SW Bell's application to provide in-region interLATA (local access and transport area) service under section 271 of the federal Telecommunications Act of 1996. AT&T Communications of the Southwest, Inc., said the rates in the subsidiaries' proposed tariffs were predatory. If the subsidiaries were required to pay SW Bell's switched access charges, their rates would be priced below cost, AT&T said. SW Bell characterized AT&T's predatory pricing claims as further attempts to delay SW Bell's entry in the long distance market. -- Ed Rovetto, erovetto@tr.com ***************************************************************** DESPITE LAPSE OF `NET TAX BAN, STATES NOT EXPECTED TO RUSH TO TAX Congress may have recessed this week without agreeing to extend the moratorium on Internet taxation before its Oct. 21 expiration date, but a National Conference of State Legislators (NCSL) aide told TRDaily not to expect any immediate movement at the state or local levels to impose e-commerce or Internet access taxes. That's because only a "handful" of state legislatures are currently in session, and none of them are currently considering bills that would defy the moratorium, the NCSL staffer said. There's also a "misconception" that the legislatures would be the only govern- mental bodies to approve measures to tax Internet access, the aide said. Instead, he explained, such change could come from state tax departments that interpret their current tax laws as applying to the Internet. The House on Oct. 16 did approve a bill (HR 1522) to extend the current moratorium until Nov. 1, 2003, but a push to take up similar legislation in the Senate was blocked late last night.=20 Both chambers are expected to return from their brief recesses on Tuesday, Oct. 23. --Gayle Kansagor, gkansagor@tr.com ***************************************************************** QWEST BOOSTS STAKE IN KPNQwest, LEANS AGAINST EXERCISING OPTION TO BECOME MAJORITY OWNER Qwest Communications International, Inc., has "no current intention" to acquire a majority stake in its European joint venture, even though it will receive an option to do so, said Joseph Nacchio, Qwest's chairman and chief executive officer. Qwest said late yesterday it would boost its voting stake in KPNQwest NV from 44.3% to 47.5% by paying $64.1 million for 14 million shares. Qwest's principal shareholder, Anschutz Co., will buy six million shares. In a related transaction, KPNQwest said it would buy Global TeleSystems, Inc. (GTS). Qwest has an option to boost its stake in KPNQwest by acquiring some or all of the remaining shares held by its European partner, Dutch carrier KPN NV. But Mr. Nacchio suggested Qwest was leaning against exercising that option. Rather than invest more in Europe, Qwest has many domestic uses for its cash, he said. In addition, its new investment in KPNQwest will give it adequate influence over the venture without requiring that the venture's finances be consolidated with Qwest's -- as would be the case if Qwest had majority control, he said. "I don't know the reason to step up any more than we have," he told analysts during a conference call. Qwest may assign its option to other potential partners with whom it has held discussions, he added. Its new investment in the joint venture will "move KPNQwest to the position in Europe that we'd always envisioned, which is kind of a mirror image of Qwest on the far side of the Atlantic," he said.=20 "It's going to eliminate a complicated structure that was useful when we set up the joint venture but no longer was providing the kind of governance we thought the venture needed." Rather than equal representation from each partner, the new KPNQwest board will have three directors from Qwest, one from KPN, and two independent members. While Qwest will retain "special rights" to approve "certain strategic decisions," KPN will lose its equivalent rights. The transaction, which the companies expect to close by year-end, will help KPN in its effort to reduce debt by $4.5 billion by year- end (TRDaily, Sept. 7). KPN now will be allowed to sell large blocks of KPNQwest shares as early as 2003, a year earlier than permitted under a previous agreement. For KPNQwest, the transaction will clarify its governance and enable it to respond more quickly to market conditions, Mr. Nacchio said. The related transaction to acquire GTS, a London-based carrier, means that KPNQwest will change its focus from building networks to deploying service, said Jack McMaster, KPNQwest's president and CEO. The GTS assets will deepen KPNQwest's network presence throughout Europe, will add 48,000 accounts to KPNQwest's customer base, and will double its Web-hosting sites, Mr. McMaster said. The $580 million acquisition will be accomplished through a prepackaged bankruptcy filing in the U.S. and the Netherlands. KPNQwest will issue $190 million in convertible notes to GTS bondholders in exchange for GTS bonds and convertible securities with a face value of $1.7 billion. KPNQwest will assume GTS's $190 million credit facility and $225 million in capital leases. A bank syndicate has agreed to provide the combined company with a credit facility of $450 million. A majority of bondholders have consented to the exchange, GTS said.=20 The transaction will require approval from bankruptcy courts in the U.S. and the Netherlands, European regulators, and KPNQwest shareholders. Closing is expected in March 2002. "This transaction represents the completion of the consensual restructuring process that we began late last year," said Robert Amman, GTS's chairman and CEO. "We greatly regret that no value can accrue to our preferred and common shareholders." Mr. Nacchio said KPNQwest and GTS together would be able to take advantage of the hole left in the global marketplace by the failure of Concert, the global joint venture of AT&T Corp. and British Telecommunications plc (TRDaily, Oct. 16). "There's a greater void to serve multinational accounts, particularly in the theaters of North America and Europe," he said.=20 "I think it's ironic that in the same industry, two of the old traditional market leaders dissolved a venture to accomplish exactly what we're stepping up to do. Time will tell who's right." -- Tom Leithauser, tleithauser@tr.com ***************************************************************** NOKIA, SCIENTIFIC-ATLANTA BUCK TREND, MANAGE TO POST PROFITS IN THIRD QUARTER With much of the telecom equipment sector still awash in red ink, Nokia Corp. and Scientific-Atlanta, Inc., bucked the trend by reporting solid, but reduced, levels of profitability.=20 Helsinki-based Nokia today posted third quarter revenues of $6.33 billion, off 7% from year-ago figures. Profits came in at $683 million, down 18% from last year. Driving revenue growth during the third quarter was the firm's mobile phone business, which generated $4.73 billion of sales, off just 3% from the comparable quarter last year. Revenues from Nokia's network business tailed off 14% to $1.49 billion.=20 "Nokia, as a flexible, lean, and focused organization, has done more than just weather the storm of the past several months," said Jorma Ollila, chief executive officer. "We succeeded in sustaining solid profitability and high cumulative operating cash flow. . .in an intensely competitive and volatile environment." Moreover, Nokia pushed up estimates for the fourth quarter, fore- casting that overall sales would increase as much as 20% above third quarter levels due to renewed strength in mobile phone sales.=20 The company expects a modest increase in earnings. Scientific-Atlanta, a maker of cable TV set-top boxes and other broadband delivery gear, late yesterday reported $410.1 million of revenues for its fiscal first quarter ended Sept. 28, a whopping 31% less than year-ago figures. Helped by cost-cutting efforts, the firm still managed to push out a $37.1 million quarterly profit from operations versus $63.8 million for the same quarter last year. "Booking activity was slower in the quarter due to the economy, and following the events of Sept. 11, the company's normally back-end loaded bookings did not materialize in the last few weeks of the quarter," Scientific-Atlanta said. Since the end of the quarter, however, "the order take rate has been significantly higher than in the first quarter," the firm said, adding it had received orders for 700,000 digital set-top boxes thus far in the current quarter. "In a very difficult quarter, we continue to be profitable," said James McDonald, chief executive officer. Regardless of top-line activity, Scientific-Atlanta continues to whittle away at expenses.=20 It announced plans to lay off 750 employees or about 10% of the workforce. Those cuts and others will strip $61 million out of the firm's cost structure on an annual basis beginning in the fiscal third quarter and lead to a $22 million charge in the second quar- ter.=20 -- John Curran, jcurran@tr.com ***************************************************************** CUSHIONED BY EARLIER WARNINGS, ANALYSTS GET WHAT THEY EXPECT FROM NORTEL, CORNING Nortel Networks Corp. sees signs that spending by telecom service providers is stabilizing, albeit at a level far below the heyday of 1999 and early 2000. "We believe we are beginning to see early indications that capital spending by service providers is approaching sustainable levels," said Frank Dunn, the company's incoming president and chief executive officer. But he said it remained "difficult to predict" where that level would be. In releasing their third quarter financial results, Nortel and Corning, Inc., showed symptoms of the same disease: a slowdown in demand for telecom equipment and data networking gear. Both companies in recent weeks have disclosed plans to reduce their workforces, close facilities, and discontinue product lines to bring their costs in line with lower revenue. Both also warned Wall Street to expect lower sales and earnings. The companies' results for the quarter ending Sept. 30 were largely in line with reduced expectations. At Nortel, revenues from continuing operations were $3.7 billion, a 45% drop from a year ago. The net loss was $2.2 billion versus a net gain of $597 million for the same period last year. Corning posted third quarter sales of $1.5 billion, a 21% decline from the year-ago figure. Its net income was $85 million compared with $317 million a year ago. "This is a very different company in a very different and still difficult environment," Merrill Lynch & Co. analyst Thomas B. Astle said of Nortel. Nortel's stock "starts to look interesting" only if there are signs that "the market is bottoming. . .and the company's financial house is now in order," he said. "However, we think we are a little too early on both of these." Regarding Corning, Merrill Lynch analyst Steve Fox said the company's management "has as good a handle on its business as could be expected given the volatile environment." Nortel declined to offer predictions regarding its fourth quarter performance. Corning said it expected fourth quarter sales in the range of $1 billion and a loss of $0.20-$0.25 per share. -- Tom Leithauser, tleithauser@tr.com ***************************************************************** TELECOM EARNINGS ROUNDUP=20 Conexant Systems, Inc., generated $201 million of revenues for its fiscal fourth quarter ended Sept. 30 versus $200.1 million in reve- nues for the preceding quarter and $561.4 million of sales in the fourth quarter of last year. Pro forma net loss for the latest quarter was $136.6 million versus a $43.5 million profit in the year-ago quarter.=20 Intersil Corp., a maker of wireless network equipment, posted third quarter revenues of $113.4 million, down from the $166.2 million generated in the same quarter last year. For the most recent quarter, Intersil turned in a net loss of $3.3 million versus a $19.1 million profit in the year-ago quarter. For the fourth quarter, Intersil expects to turn a profit with sequential revenue growth of 3% to 5%. Prodigy Communications Corp., which agreed this week to an acquisition by SBC Communications, Inc., said third quarter reve- nues were $95.2 million versus $121.0 million in the year-ago quarter. Net loss, however, improved to $29.0 million in the latest quarter, from $62.8 million a year ago. Integrated Device Technology, Inc.'s revenues for its fiscal second quarter ended Sept. 30 slid to $97.1 million, down from $115.9 million in the previous quarter and $268.7 million a year ago. Net losses for the most recent quarter were $5.3 million versus a profit of $86.3 million last year. IDT, a communications-related semiconductor maker, said it had begun to see a "trend to recovery" in orders for some processors at the end of its most recent quarter.=20 Advanced Fibre Communications, Inc., said third quarter revenues slid to $84.6 million from $114.1 million in the year-ago quarter.=20 Despite the top-line woes, Advanced Fiber posted net income of $15.8 million for the most recent quarter, which included securities trading gains, versus a $12.9 million profit for the same quarter last year. Citing "the most difficult market environment in recent memory," the company said recent restructuring efforts had cut workforce headcount by 9%. Tekelec, a developer of telecom signaling infrastructure, posted third quarter revenues of $77.5 million versus $83.8 million in the year-ago quarter. The most recent quarter featured a $2.5 million net loss, compared to a $6.1 million profit last year. Illuminet Holdings, Inc., a provider of switching and database services to telecom service providers, grew third quarter revenues to $52.3 million from $41.6 million in the same period last year. Net income for the most recent quarter was $10.9 million versus $9.9 million last year. Somera Communications, Inc., turned in third quarter revenues of $54.9 million accompanied by a $4.0 million profit versus $58.2 million of revenues and $6.6 million of net income for the year-ago quarter. Somera is a telecom infrastructure equipment manufactur- er. Applied Micro Circuits Corp. said revenues for its fiscal second quarter ended Sept. 30 were $41.3 million, down from $97.0 million a year ago. Net losses for the most recent quarter were $12.7 million versus a $35.6 million profit a year ago. "I believe that our business has stabilized, and we are currently at the bottom from a revenue standpoint," commented Dave Rickey, chief executive officer. Applied Micro makes integrated circuits for optical net- works.=20 Com21, Inc., a cable modem maker, posted third quarter revenues of $30.1 million, down from $34.1 million in the second quarter of the year and $60.6 million a year ago. The net loss for the latest quarter was $10.6 million versus $24.8 million in the year-ago quarter. Covad Communications Group, Inc., a bankrupt DSL (digital sub- scriber line) service provider, reported a net increase of 13,000 lines in service on its network for the third quarter. Covad ended the period with 346,000 lines in service. Carrier Access Corp. generated third quarter revenues of $20.9 million accompanied by a net loss of $8.1 million. In the same quarter last year, the company posted revenues of $40.1 million with a $4.0 million profit. Carrier Access is a telecom equipment manufacturer.=20 Western Multiplex Corp., a maker of wireless network equipment, posted revenues of $21.7 million for the third quarter, down from $29.9 million in the year-ago quarter. Net losses for the most recent quarter were $5.7 million versus a profit of $1.6 million a year ago.=20 Sycamore Networks, Inc., warned that revenues for its fiscal first quarter ending Oct. 27 would decline to a range of $20 million to $25 million. It will record a pro forma net loss of up to $44 mil- lion. Restructuring efforts are expected to produce charges of up to $210 million. Those are related to excess inventory, layoffs of 240 employees, and asset write-downs. "Without clear signs of a turnaround in customer spending, Sycamore is taking action to reduce expenses and resize the business for this new economic environment," said Dan Smith, chief executive officer.=20 Sunrise Telecom, Inc., said net sales for the third quarter fell by nearly half to $17.9 million from $35.0 million in the year-ago quarter. For the most recent quarter, Sunrise squeaked out a $90,000 profit versus $7.3 million of profit in last year's third quarter. Sunrise provides service verification equipment for tele- com and Internet networks.=20 Ulticom, Inc., which makes software for telecom service providers, forecasted sales of $13 million to $14 million for its third quarter ending Oct. 31. It expects a modest profit for the period. Nuance Communications, Inc., saw third quarter revenues decline to $9.2 million and a net loss of $11.3 million. In the year-ago quarter, Nuance generated $14.4 million of revenues and a $4.6 million net loss. Nuance is a maker of speech recognition and other voice-related telecom software.=20 Hybrid Networks, Inc., posted $10.4 million in gross sales for the third quarter and a $922,000 net loss versus $5.7 million in gross sales and a net loss of $12.9 million during the same quarter last year. Hybrid, a maker of fixed broadband wireless systems, said fourth quarter revenues were expected to fall to the $5 million range. Netro Corp., a broadband wireless access software provider, posted third quarter revenues of $6.1 million, up from $2.1 million in the second quarter of this year but down from the $20.5 million booked in the year-ago quarter. The net loss for the most recent quarter was $7.0 million versus a small profit in the same quarter last year. Netro said it had begun to "witness the beginning of a recovery within our customer base" early in the third quarter.=20 "However, we remain concerned about the general economic sluggishness, particularly following the tragic events of Sept. 11." ***************************************************************** TELECOM SECTOR WEEKLY FUNDING ROUNDUP Following are highlights from this week's telecom sector corporate financing deals, with funding recipients listed in alphabetical order: Alamosa Holdings, Inc., filed with the Securities and Exchange Commission for a proposed offering of up to 4.2 million shares of common stock. Proceeds are slated for general corporate purposes, including expanding coverage areas in the firm's existing wireless territories and beyond. Artesyn Technologies, Inc., said it had obtained a waiver from bank lenders through Dec. 1 for financial covenant tests under its existing revolving credit agreement. As part of the waiver agreement, the size of Artesyn's credit agreement was permanently cut to $150 million from $275 million. The company hopes to have a permanent amendment to the credit facility completed by Dec. 1.=20 AT&T Corp. expects to receive up to $1.5 billion in proceeds from the sale of 19.2 million shares of Cablevision NY Group Class A common stock and trust securities backed by another 23.4 million Cablevision NY shares. AT&T said it would use proceeds to reduce debt.=20 CellStar Corp. said it had amended its credit facility with Foothill Capital Corp. to increase commitments to $85 million from $60 million previously.=20 Coriolis Networks, Inc., closed on $32 million of venture financing with funders including TL Ventures and EnerTech Capital. Coriolis, based in Boxborough, Mass., makes optical networking software.=20 Danger, Inc., a wireless Internet device maker, closed on $36 million of venture financing from funders including Redpoint Ventures and the venture capital affiliates of Deutsche Telekom AG and Orange SA. Digital Fountain, based in Fremont, Calif., secured $20 million in=20 financing from funders including Macrovision, British Telecommu- nications plc, and Spinnaker Ventures. Global Communication Devices, a wireless networking semiconductor supplier based in North Andover, Mass., secured $15.6 million of venture financing from funders including Walden International Investment Group, Lucent Venture Partners, and Goldman Sachs.=20 InterDigital Communications Corp. announced that Nokia Corp. had agreed to increase funding -- from $40 million previously to $58 million -- for InterDigital's Wideband CDMA [code-division multiple access] technology development program.=20 International FiberCom, Inc., said it was in talks with its commercial banking syndicate to address loan covenant violations that will occur as a result of the firm's expected third quarter loss and pending restructuring charges. L-3 Communications Holdings, Inc., announced plans to sell $350 million of convertible senior subordinated notes due 2011 in a private placement, with an overallotment of up to 20%. Proceeds are slated to fund acquisitions and other corporate needs. Mobile Satellite Ventures LLC, a joint venture of Motient Corp. and BCE, Inc.'s TMI Communications unit, has arranged for $55 million of subordinated convertible note financing with investors including Motient, Telecom Ventures, Columbia Capital, and Rare Medium Group. NEC Eluminant Technologies, Inc., a provider of broadband access products, secured $26 million of additional financing from its indirect parent company NEC Corp. and ITOCHU Corp.=20 PanAmSat Corp. said it had begun hiring investment banking firms to raise $2 billion in bank and other debt financing. Proceeds will be used to pay off a $1.7 billion term loan owed to PanAmSat parent company Hughes Electronics Corp. PanAmSat expects to complete the financing effort by year-end. PhotonEx Corp., a Maynard, Mass.-based photonic systems developer, received $90 million in equity financing from funders including Axxon Capital, Boston Millennia Partners, and JP Morgan Investment Management.=20 Proximion Fiber Optics AB, of Wilmington, Del., secured $10 million in private financing from funders including Celtic House and Add Partners.=20 ROHN Industries, Inc., a telecom equipment supplier, said it was renegotiating certain aspects of its bank credit agreement after missing a covenant related to EBITDA (earnings before interest, taxes, depreciation, and amortization) levels. ROHN expects the talks to conclude by year-end. Stream Communications Network, Inc., a Vancouver-based broadband cable TV company, hired Janco Partners to arrange sales of stock or debt securities to generate proceeds ranging from $10 million to $40 million. Telephone & Data Systems, Inc., filed with the Securities and Exchange Commission a proposed shelf offering for up to $1 billion of debt securities. Proceeds would be devoted to debt refinancings, acquisitions, and other uses. Teradyne, Inc., plans to launch a public offering of $300 million of convertible senior notes due 2006. Proceeds are slated for working capital and other corporate purposes. Virtela Communications, Inc., a provider of virtual private network services, closed on a $35 million venture financing round with funders including Norwest Venture Partners, RSA Ventures, and Juniper Networks. Wireless Matrix Corp. intends to offer 7.5 million special warrants to raise $9.5 million to fund capital expenditures. Wireless Matrix, based in Calgary, is a developer of wireless data services for business customers. XM Satellite Radio said it had reached agreement on basic terms of a $66 million funding package, including $35 million in new debt financing with Boeing Capital Services Corp. and $31 million in restructured obligations with Boeing Satellite Systems International Inc. XM said it expected the funding deal to close later this month. ***************************************************************** NEWS IN BRIEF Citing health and safety concerns, the FCC has suspended for yesterday and today parties' ability to file hand-delivered or messenger-delivered paper filings. As of Oct. 22, the FCC will no longer accept such filings at its headquarters at 445 12th St. S.W., Washington, D.C. Such filings may be made at 9300 E. Hampton Drive, Capitol Heights, Md. To accommodate the change, the time deadline for filing at the Capitol Heights location has been extended to 9 p.m. All Oct. 18 or Oct. 19 paper and electronic filing deadlines have been extended to Oct. 22. Filings and other documents sent to the Commission using the U.S. Postal Service or overnight delivery services should continue to be addressed to the 12th St. location. The Commission will then divert the deliveries to the Capitol Heights location for screening.... Tyco International Ltd. has signed a definitive agreement to acquire the outstanding 11% equity stake that it does not already own in TyCom Ltd. for stock valued at $15.42 per share. Earlier this month, Tyco launched the buyout effort with a bid valued at $14 per share. Last year, Tyco sold the majority stake in TyCom to the public at $32 per share.... Focal Communications Corp. announced that shareholders voted to approve the firm's proposed $430 million recapitalization. Focal said the plan would close on schedule, subject to other closing conditions.... Mediacom Communications Corp. said it had reached an agreement with At Home Corp. for the continued provisioning of Mediacom's new high-speed Internet customers. Mediacom's announcement follows similar agreements between other broadband providers and At Home, whose recent bankruptcy filing had put existing provisioning agreements into doubt.... Polycom, Inc., completed its acquisition of PictureTel Corp. in a deal that exchanged PictureTel common stock for $3.11 in cash and 0.11 shares of Polycom stock. ******************************************************** TR DAILY Copyright 2001 Telecommunications Reports International, Inc., (ISSN 1082-9350) is transmitted weekdays, except for holidays. Visit us on the World Wide Web at http://www.tr.com.=20 Published by the Business & Finance Group of CCH INCORPORATED. Editor: John Curran Associate Editor: Tom Leithauser Associate Editor: Ryan Oremland Associate Editor: Ed Rovetto Publisher: Stephen P. Munro 1333 H Street, NW, 1st Floor-East Tower, Washington, DC 20005 Editorial Information: Telephone: (202) 312-6060 Fax: (202) 312-6111 Email: jcurran@tr.com tleithauser@tr.com Customer Service: Telephone: (202) 312-6050 (877) 874-8737 Fax: (202) 312-6116 Email: customerservice@tr.com Federal copyright law prohibits duplication or reproduction in any form, including electronic, without permission of the publisher.=1A
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