(More) Merger Mania
NYT: As MCI Fight Grows, the Wall St. Entourage Builds
NYT: From Wimp to Kingmaker in Battle for MCI
WP: GTE's Careful Strategy a Hallmark Of Its Quiet General,
Analysts Say
WP: Prospect of Takeover Brings Calls for Regulatory Review
WSJ: Battle for MCI May Be Just Beginning
WSJ: GTE Targets Policy Makers in Promoting Bid
Broadcasting Regulation
NYT: Defying NATO, Hard-Line Serb Resume Broadcasting in Bosnia
Internet Regulation
NYT: Lawyer Subpoenas Data From Newspaper's Web Site
Lifestyles
NYT: Cyberfashion: A Whole New Meaning to Booting Up
Media and Politics
NYT: Candidates Extend Credo 'All Politics Are Local' to Web
Wireless
Telecom AM: Bell Canada and Two Others Team To Roll Out Wireless
CLEC Service In Mexico
** (More) Merger Mania **
Title: As MCI Fight Grows, the Wall St. Entourage Builds
Source: New York Times (C4)
http://www.nytimes.com/1997/10/17/news/financial/mci-wall-st.html
Author: Peter Truell
Issue: Mergers
Description: The multi-billion dollar battle for MCI has highlighted a
feeding frenzy in the telecom industry for investment banks and lawyers. An
"A-list" of advisers are living lovely off of the transaction, whether
they're directly involved or not. Colin Knudsen, a managing director at
Donaldson, Lufkin & Jenrette, said, "If you asked me six months ago whether
there was a chance of a bidding war for MCI, I would have said not a chance.
This will change everything in the telecommunications industry."
Title: From Wimp to Kingmaker in Battle for MCI
Source: New York Times (C1)
http: //www.nytimes.com/1997/10/17/news/financial/bt-phone.html
Author: Seth Schiesel
Issue: Mergers
Description: Ever since GTE and Worldcom made their record-breaking bids for
MCI, British Telecom, who made the initial bid, has had to bear a somewhat
impotent image. This is no more, now that BT could emerge as the potential
"kingmaker" because of its unique position as MCI's largest shareholder
(20%) and as the gatekeeper to an internat'l communications market. "Three
seats and 20% of the equity is a lot of power," said William Vogel, a
telecom analyst for Nations-banc Montgomery Securities. "BT has a lot of
sway here."
Title: GTE's Careful Strategy a Hallmark Of Its Quiet General, Analysts Say
Source: Washington Post (G1)
http://www.washingotnpost.com/wp-srv/WPlate/1997-10/17/1221-101797-idx.html
Author: Mark Leibovich
Issue: Mergers
Description: Analysts are finding that GTE is projecting itself as a new,
hardened, aggressive telephone giant that just staged a "predawn commando
style raid" with their $28 billion in cash offer to buy MCI, even as two
other companies were bidding. People who know GTE's chief exec, Charles Lee,
know of his penchant for military imagery, and know that he's applying the
same attitude to his bid for MCI. Chris Landes, a telecom analyst with
Telechoice Inc., said, "This is not a ranting and raving executive, but Lee
is a man who uses his allies and skills well."
Title: Prospect of Takeover Brings Calls for Regulatory Review
Source: Washington Post (G1)
http://www.washingtonpost.com/wp-srv/WPlate/1997-10/17/1211-101797-idx.html
Author: Mike Mills
Issue: Mergers
Description: MCI said it would begin negotiations with Worldcom and GTE, the
two rival suitors in a bidding war that could be the richest corporate
takeover battle in history. This announcement came as critics demanded a
regulatory review of a merger with either one. Worldcom is offering $30
billion in stock-only currency, while GTE is offering $28 billion in cash,
or $40 per MCI share. Meanwhile, BT, whose $21 billion can't stand up to the
others, will likely try to broker some kind of 3-way deal to insure the
British access to the U.S. market. Daniel Zito, an analyst with Legg Mason
Wood Walker Inc., said he would prefer Worldcom as a partner for MCI but
that "from a shareholder's perspective, all else being equal, cash wins."
Either merger requires the FCC's and the Justice Dept.'s approval.
Title: Battle for MCI May Be Just Beginning
Source: Wall Street Journal (A3, A8)
http://wsj.com/
Author: Steven Lipin
Issue: Mergers
Description: Yesterday, MCI and British Telecommunications announced that
they will allow each other to "talk to the two unsolicited bidders without
triggering a violation of their ammended accord. This is the first sign
that MCI wants to explore both bids by creating a level playing field, but
the move itself doesn't automatically suggest that an auction of MCI is
underway yet, observers say."
Title: GTE Targets Policy Makers in Promoting Bid
Source: Wall Street Journal (A8)
http://wsj.com/
Author: John R. Wilke and Bryan Gruley
Issue: Mergers
Description: GTE has been talking with policy makers in Washington trying to
convince them that their proposal to MCI is good for consumers. GTE
believes their bid should win Federal approval because it will ignite
competition against AT&T and the Baby Bells. GTE also has come out against
WorldCom's proposal saying that it would "limit competition and leave
residential customers on hold." "We're going to serve all markets and all
Americans, not just cherry-pick business customers," said William Barr, GTE
general counsel. He added, "WorldCom wants to jettison most of MCI's
residential business and would dominate the Internet," boosting prices for
Internet users.
** Broadcasting Regulation **
Title: Defying NATO, Hard-Line Serb Resume Broadcasting in Bosnia
Source: New York Times (A12)
http://www.nytimes.com/1997/10/17/news/world/bosnia-broadcasts.html
Author: Mike O'Connor
Issue: Broadcasting Regulation
Description: Hard-line Bosnian Serbs managed to circumvent the NATO troops
that seized their stations, citing that their broadcasts were a danger to
peace, and returned to the airwaves. NATO spokesmen said they didn't know
how the Serb authorities were broadcasting or how much of the
country they were reaching. "The idea is to go back to business as usual,"
said Jovan Zametica, an advisor to Radovan Karadzic, leader of the Bosnian
Serb hard-liners. "Real Serb TV is back on the air."
**Internet Regulation **
Title: Lawyer Subpoenas Data From Newspaper's Web Site
Source: New York Times, CyberTimes
http://www.nytimes.com/library/cyber/week/101797security.html
Author: The Associated Press
Issue: Internet Regulation
Description: "The Ventura County Star was subpoenaed by defense attorneys in
a murder case for information about people who have used the newspaper's
Internet site. The subpoena, which asks for unpublished e-mail and
demographics of people who participated in an online survey about the case,
explores new territory between legal protections for the media and a
defendant's right to a fair trial, said Terry Francke, a media attorney with
the California First Amendment Coalition." "This is very new, and I suspect
the courts will be grappling with more and more of these types of requests
from attorneys as the medium grows."
** Lifestyles **
Title: Cyberfashion: A Whole New Meaning to Booting Up
Source: New York Times, CyberTimes
http://www.nytimes.com/library/cyber/week/101797wearable.html
Author: Erica Noonan
Issue: Lifestyles
Description: Funky cyber-clothing premiered on Wednesday at the
Massachusetts Institute of Technology Media Laboratory's Wearables
Symposium. The clothes were developed by MIT students who collaborated with
corporate sponsors and fashion students from France, Italy and Japan. The
fashions ranged from the practical, like a small device that transmits a
runner's heart rate, body temperature and speed to a real-time Web site. To
the more whimsical, like the "firefly" dress "made of electricity-conducting
organze, decorated with a spray of tiny, motion-sensitive lights which
flicker with the wearer's every move." The symposium was hosted by Leonard
Nimoy, who said that he enjoyed the futuristic apparel. "Some of these
ideas evolved from concepts first put forth in 'Star Trek,'" he said. "But
now they make 'Star Trek' gadgets look primitive." Keep an eye out for
these fashions which may eventually hit the retail market. (Judy Jetson -
watch out - millennium fashion's are here, Yeiowwww!)
** Media and Politics **
Title: Candidates Extend Credo 'All Politics Are Local' to Web
Source: New York Times, CyberTimes
http://www.nytimes.com/library/cyber/nation/101797nation.html
Author: Jason Chervokas & Tom Watson
Issue: Internet
Description: Bob Levine, a candidate for City Councilor in Ward 6 in the
city of Marlborough, has taken his campaign to the Internet to disseminate
info, bumper stickers, publish position papers, and collect e-mail addresses
for his direct mailing list. "A direct mailing to 1,100 homes costs $500,"
said Levine. "My Internet site is basically free." Levine will also be able
to announce the results of preliminary elections on his Web site hours
before the local paper prints its afternoon run. He even includes the
Website as part of his platform; vowing to use space to provide local
information about street repaving schedules, info that even local papers
don't necessarily deliver. He said, "People say the Internet's international
but really it's just as important for my ward."
** Wireless **
Title: Bell Canada and Two Others Team To Roll Out Wireless CLEC Service In
Mexico
Source: Telecom AM http://capitol.cappubs.com/am/
Issue: Wireless
Description: Bell Canada International (BCI), Mexican conglomerate Telinor,
and United Nations-sponsored project development company WorldTel have
formed a partnership to offer competitive local exchange carrier (CLEC)
service in Mexico. CLEC service will mainly use fixed wireless access.
Telinor, which is the first company authorized to offer local and
long-distance service in direct competition with state-owned Telmex, will
participate in radio spectrum auctions to be conducted in November to
acquire a nationwide footprint, company sources said. Tomas Milmo Santos,
CEO of Telinor, said, "Our objective is to actively participate in the
modernization of the Mexican telecommunications industry and serve as a
catalyst for economic development. We intend to deploy advanced
telecommunications infrastructure, provide a world-class service and create
several thousand good jobs." Derek Burney, chairman and CEO of BCI, added,
"Mexico represents an exciting opportunity, with its population of 93
million and a national wireline penetration rate of just 10 lines per 100
inhabitants. Our investment in Telinor reflects BCI's core strategy, working
with strong local partners and astute multinational investors to provide
high quality wireless services in promising markets with significant unmet
demand, good growth prospects and attractive competitive environments."
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