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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..] -- Ignore unavailable to you. Want to Upgrade?


To: Mazman who wrote (750)10/5/1999 9:18:00 AM
From: SteveG  Respond to of 1860
 
<A> WinStar Significantly Expands Fiber Capacity in 38 Domestic and
Three International Markets Through New Agreement With Metromedia
Fiber Network

biz.yahoo.com

20-Year Dark Fiber Agreement to Reduce Network Costs and Enhance
EBITDA

NEW YORK--(BUSINESS WIRE)--Oct. 5, 1999-- WINSTAR COMMUNICATIONS, INC.
(NASDAQ: WCII - news) today announced that it has entered into an agreement to obtain
dark fiber capacity in 38 major markets in the United States and three major international
markets from Metromedia Fiber Network (NASDAQ: MFNX - news). WinStar will pay
approximately $300 million over 20 years, which includes imputed interest, beginning upon
delivery of the dark fiber. This will significantly expand WinStar's local presence in the U.S
and abroad, adding both metropolitan ring capacity and fiber-lit buildings to WinStar's
network in those markets. WinStar's cost of revenue will be significantly reduced as a result
of this agreement.

As part of the agreement, Metromedia Fiber Network will deliver dark fiber to WinStar in
38 markets including Boston, Atlanta, Dallas/Forth Worth, Los Angeles, Seattle and Houston
as well as three international markets - London, Amsterdam and Cologne - where WinStar is
either currently providing services or has obtained licenses to do so. As a result, WinStar
will have dark fiber rings in a total of 50 of the 60 U.S. markets that it plans to serve. In
addition, the agreement includes dark fiber on Metromedia Fiber Network's German ring,
which provides intercity connectivity between major markets in that country.

The agreement also provides that Metromedia Fiber Network will deploy fiber into
buildings designated by WinStar in each market, including WinStar hub sites and central
offices, thereby adding another way for WinStar to expand its broadband connections to
customers.

''As we integrate this fiber capacity into our network, it will replace high-cost leased
facilities and dramatically expand our ability to provide end-to-end broadband services for
our customers,'' said William J. Rouhana, Jr., WinStar's chairman and CEO. ''This
agreement will reduce our operating costs and expand our on-net buildings, thereby
enhancing our EBITDA and adding another way to provide the broadband capacity that
allows WinStar to be a leader in bringing high-speed data services to major business centers
around the world.''

''The size and scope of our agreement with WinStar is significant,'' said Howard
Finkelstein, president of Metromedia Fiber Network. ''WinStar is clearly a leader in
providing competitive broadband communications services to businesses, including local
and long distance voice, high-speed Internet access, data and information services. By
combining our metropolitan dark fiber infrastructure with its own Wireless Fiber(SM) and
long-haul networks, WinStar can continue to carve out a unique position as a provider of
broadband services to businesses over its own network,'' added Finkelstein.

WinStar Communications, Inc. is a pioneer in providing business customers with broadband
communications services, including local and long-distance phone service, as well as
high-speed Internet access, data and information services. WinStar provides these Wireless
Fiber(SM) services in more than 30 U.S. markets over its local broadband networks, using
its licenses in the 28 and 38 GHz spectrum, which are connected to the company's
nationwide fiber-optic network. In addition, the company offers Wireless Fiber services in
four international markets. In the past year, WinStar has become one of the largest Internet
companies in the U.S. Recently, the company announced a destination Web site for
businesses, Office.com(SM), a service from WinStar.



To: Mazman who wrote (750)10/5/1999 9:22:00 AM
From: SteveG  Respond to of 1860
 
thanks maz (here's the full fwiw:) Teligent and First Industrial Sign
Major Building Access Agreement

biz.yahoo.com

VIENNA, Va., Oct. 5 /PRNewswire/ -- Teligent, an integrated communications company,
today announced an agreement with First Industrial Realty Trust, Inc., one of the nation's
largest, fully-integrated providers of industrial real estate, giving Teligent access to First
Industrial's portfolio of more than 1,000 major office and industrial buildings in 32 markets
nationwide.

The agreement gives Teligent the ability to provide First Industrial's tenants access to
high-quality, lower cost local, long distance, Internet and data services over Teligent's
advanced, digital SmartWave(TM) networks. Teligent will immediately target First
Industrial's portfolio of office and industrial buildings in Chicago, Denver, Phoenix,
Philadelphia and Tampa.

''This agreement enables Teligent to bring the world of e-commerce to small and
medium-sized businesses in many of the major business centers in the US,'' said Teligent's
Senior Vice President of Site Acquisition Bruce Wagner. ''For customers, this means
gaining access to Teligent's revolutionary services -- to the world of cyberspace with the
speed and savings small and mid-sized customers will need to compete.''

The properties that Teligent will initially target represent more than 15 million square feet of
office and industrial space of First Industrial's portfolio of more than 70 million square feet
of office and industrial space nationwide. Together, these buildings house more than 3,500
First Industrial customers.

Randall L. Axelson, Director of First Industrial's First Services division, said, ''The
addition of this program gives our tenants choice and breadth of services in helping support
their telecommunication service needs. Key goals in our telecom program were to provide
our customers choice of quality service providers, a wide array of state-of-the-art services
and ease to access, regardless of the size of the company. We feel we have achieved this
with Teligent, First Services new telecommunication partner.''

With its advanced SmartWave(TM) technology, Teligent offers customers in 31 markets
nationwide savings of up to 30 percent on local and Internet services. Teligent offers long
distance service at a single, low ''per minute'' price. When customers install local service,
Teligent deducts up to an additional 30 percent from the per-minute long distance price.
Prices for long distance calls within a state may vary in some states.

Teligent also offers a high-speed data service for cost-conscious customers -- SmartWave
DSL(TM). Using advanced ''digital subscriber line'' (DSL) electronics to enhance the
copper circuits inside customer buildings, Teligent's new DSL service will enable smaller
businesses to take advantage of high-speed Internet access at prices starting at $149 a month.
Initially, the service will be available in selected buildings in approximately 28 of
Teligent's 31 markets, with additional markets following later this fall.

Teligent also gives customers e*magine(SM), an interactive, Web-based business
management tool that transforms a customer's communications bill into a simple, predictable
package. Using their Internet browser, customers can access their billing and account
information anytime they choose. e*magine(SM) allows them to sort and analyze calls by
account code, originating number or other criteria -- virtually any way they like.

Teligent recently added several new features to e*magine(SM), including a call summary
that allows customers who have Teligent local service to view, sort, and download
incoming local and long distance calls. With this new capability, customers can construct a
complete picture of all incoming telephone traffic to analyze trends and track frequent
callers.

And they can download data for their own use -- every day. That means they won't have to
wait for a paper bill to arrive in the mail every month to keep abreast of their
communications activity.

Integrating advanced point-to-multipoint and point-to-point microwave radio equipment with
traditional broadband wireline technology, Teligent's SmartWave(TM) networks offer
customers the advantages of lower costs and greater flexibility. Teligent gives smaller
businesses the higher network speed and capacity up to 45 megabits per second they need to
compete.

Teligent serves its fixed wireless customers by placing small antennas, more compact than a
computer monitor, on top of their buildings. The customer building antennas send voice, data
and video signals over an ATM data platform to a nearby Teligent base station. The base
station aggregates the signals and routes them to a Teligent switch, where they are directed
to local or long distance voice networks or the Internet.

Based in Chicago, Ill., First Industrial Realty Trust, Inc. (NYSE: FR - news) is one of the
nation's largest, fully integrated providers of industrial real estate, owns and operates 70
million square feet of industrial facilities and manages an additional nine million square
feet. The Company's strategy is to create shareholder value through the efficient operation of
its national franchise, which is diversified across facility type, geographic location and
customer base. First Industrial focuses on superior localized customer service and
value-added investments including development and redevelopment.

Based in Vienna, Va., Teligent, Inc. (Nasdaq: TGNT - news) is a full-service, integrated
communications company that is offering small and medium-sized business customers local,
long distance, high-speed data and dedicated Internet services over its digital
SmartWave(TM) local networks in 31 major markets. Eventually, Teligent will expand
service to major metropolitan areas throughout the United States. Teligent's offerings of
regulated services are subject to tariff approval.

For more information, visit the Teligent website at: www.teligent.com

Teligent and SmartWave are trademarks of Teligent, Inc.



To: Mazman who wrote (750)10/5/1999 9:24:00 AM
From: SteveG  Read Replies (2) | Respond to of 1860
 
from Fahnestock's Bauer & Lee:

WinStar Communications, Inc.
Fiber Deal Increases Visibility of Gross Margin Expansion; Reit. BUY.

Investment Opinion: We are reiterating our BUY rating on WinStar. Our year-end target price of $65
reflects a 30% public market discount to our revised 1999 net asset value of $91 per share and offers a 60%+
upside potential from the current price levels. Key points:
· Buying Fiber from Metromedia: Today WinStar announced that it has entered into an agreement to
obtain dark fiber capacity in 38 major markets in the U.S. and three major international markets from
Metromedia Fiber Network (OTC- MFNX). As part of the agreement, Metromedia Fiber Network will
deliver dark fiber to WinStar in 38 markets including Boston, Atlanta, Dallas/Forth Worth, Los Angeles,
Seattle and Houston as well as three international markets - London, Amsterdam and Cologne - where
WinStar is either currently providing services or has obtained licenses to do so. As a result, WinStar will
have dark fiber rings in a total of 50 of the 60 U.S. markets that it plans to serve (the company previously
announced an agreement to purchase dark fiber in 12 markets). In addition, this agreement includes dark
fiber on Metromedia Fiber Network's German ring, which provides intercity connectivity between major
markets in that country. Finally, this agreement also provides that Metromedia Fiber Network will deploy
fiber into buildings designated by WinStar in each market, including its hub sites and central offices,
thereby adding another way for the company to expand its broadband connections to customers.
· Financial Terms: WinStar will pay approximately $300 million over 20 years, which includes imputed
interest, beginning upon delivery of the dark fiber. This deal will significantly expand the company's local
presence in the U.S., adding both metropolitan ring capacity and fiber-lit buildings to its network in those
markets.
· Bottom Line: WinStar's network expenses are expected to be reduced by $1.2 million ($2.5 million vs.
$1.3 million) per month, resulting in at least 5% of gross margin improvement next year. Our current
forecast calls for gross margins to improve from 35% at 4Q99 to 53% by 4Q2000, resulting in a full-year
2000 gross margin of 47% (vs. 29% for full-year 1999). Although we are making no changes to our 2000
numbers, the visibility of the company's guidance on its profitability has greatly improved. WCII is
currently trading at a steep 56% discount to our 1999 net asset value of $91. Historically discounts of 50%
or more for healthy companies are rare, short lived, and represent excellent buying opportunities. We think
this deep discount reflects recent skepticism over the company's ability to achieve its initial goals on
profitability with lower (than expected) 2000 revenues. As the visibility of the company's near-term
fundamentals continues to improve, we expect this discount to shrink to a historically more normal 30%
level and fuel a 60%+ increase in the stock.