I have just posted this on the Charter board, and thought it should be here also....
KLP
fast.quote.com
REPEAT/IBC Announces Investment Opinion on NOYR.com; Telecom Wireless Models Vulcan Ventures ``Wired World' Strategy?
BusinessWire, Friday, October 08, 1999 at 18:10
by Interactive Business Channel
REPEATING...
IRVINE, Calif.--(BUSINESS WIRE)--Oct. 8, 1999--This news is
brought to you by Interactive Business Channel. Please visit
www.ibchannel.com to subscribe to our newsletter and receive future
updates on hot growth industries.
With the recent spate of acquisitions it seems Telecom Wireless
(OTCBB:NOYR) is modeling Paul Allen's "Wired World" Strategy. Through
strategic acquisitions and technology enhancements Telecom Wireless is
being positioned to build a digital wireless platform to deliver
enhanced services including introduce include television, two-way
voice and data, and high-speed Internet access.
Vulcan Ventures's $1.65 billion investment in telecommunications
company RCN (NASDAQ:RCNC) last week will help transform the
television set from a one-way receiver into an interactive device for
traversing the Web, according to William Savoy, Vulcan's president.
"There will be (television) screens everywhere," said Savoy, during a
conference call on Monday about Vulcan's new deals.
Vulcan Ventures, the investment vehicle for Microsoft
(NASDAQ:MSFT) cofounder and Vulcan majority shareholder Paul Allen,
announced Monday that it would invest $1.65 billion in RCN. Based in
Princeton, N.J., RCN develops advanced fiber-optic networks to provide
a wide range of telecommunications services such as local and
long-distance telephone, video programming and data services.
On Monday, Vulcan also announced it was forming Broadband
Partners, a joint venture with Charter Communications, RCN, Go2Net
(NASDAQ:GNET), and High Speed Access (NASDAQ:HSAC). Broadband
Partners will provide portals optimized for broadband connections to
customers of Charter and RCN who receive high-speed Internet services
through TV set-top boxes. These deals makes Paul Allen's wired world a
serious competitor to other broadband moguls in the making, including
the team of AT&T (NYSE:T) and Excite@Home (NASDAQ:ATHM).
High Speed Access will contribute the swift Internet connections.
Go2Net will provide the portal to the rest of the Web, as well as to
other Vulcan investments such as Asymetrix Learning Systems
(NASDAQ:ASYM), Egghead.com (NASDAQ:EGGS), Liquid Audio (NASDAQ:LQID), Fatbrain.com (NASDAQ:FATB), Stamps.com (NASDAQ:STMP), Tivo
(NASDAQ:TIVO), and others.
"Forty percent of the telecommunications activity comes out of
the regional areas that RCN has focused on. We estimate that they have
about a 6 percent market penetration in those markets," said Michael
Renegar, senior analyst with BancAmerica Securities.
RCN reported that for the quarter ended June 30, 1999, revenue
increased 49 percent to $134 million, up from approximately $90
million reported in the year-ago period. Higher revenues were due in
part to higher average service connections and to other strategic
partnerships, such as ones the company has with Level 3 Communications
(NASDAQ:LVLT), Qwest Communications (NASDAQ:QWST), and Potomac
Electric Power.
Allen has another stock opportunity coming early next month when
Charter Communications is expected to issue an initial public offering
of 170 million shares at between $17 and $19 per share through
underwriters led by Goldman Sachs (NYSE:GS).
CONTACT: Interactive Business Channel
Matthew Marcus, 949/442-8919
www.ibchannel.com
KEYWORD: CALIFORNIA NEW JERSEY
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Copyright 1999, Business Wire
Companies or Securities discussed in this article:
Symbol Name
NASDAQ:ATHM
NASDAQ:ASYM
NASDAQ:EGGS Egghead.Com Inc
NASDAQ:FATB
NASDAQ:STMP
NASDAQ:TIVO
NASDAQ:LVLT Level 3 Communications
NASDAQ:QWST
NYSE:GS
BB:NOYR
NASDAQ:RCNC
NASDAQ:MSFT Microsoft Corp
NASDAQ:GNET
NASDAQ:HSAC
NYSE:T At&T Corp |
