Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: Teddy who wrote (1317)	7/12/1999 5:16:00 PM
From: MangoBoy	Read Replies (1) of 15615

[Japan-US Cable Network Consortium granted Landing License by the FCC] WASHINGTON, July 12 /PRNewswire/ -- On Friday July 9, 1999, the Federal Communications Commission granted the joint applicants of the Japan-US Cable Network authority to land and operate the J-US CN, an ambitious $1 billion+ project to build a high capacity digital fiber optic submarine cable between Japan and the U.S. The application process lasted approximately 8 months and required numerous meetings with and presentations to the FCC. The FCC declined to impose the license conditions sought by Global Crossing Ltd. The Commission also found that the public interest under the Cable Landing Act would be served by this grant, subject to standard conditions applicable to all similar applicants. The consortium, which is made up of more than 40 global carriers, both large and small as well as traditional and new, is very pleased with the grant of its application. The new cable will bring substantial benefits to the public and its owners because of its large capacity and low unit costs. With this grant, the consortium can accelerate implementation of this important communications link between the US and Japan.

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