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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: Patriarch who wrote (2000)	5/27/1999 8:02:00 AM
From: Zoro	Read Replies (1) \| Respond to of 3873

Thread: News this a.m. of strategic deal: Thursday May 27, 7:30 am Eastern Time Company Press Release SOURCE: Level 3 Communications, Inc. Level 3 and Broadcast.com Announce Strategic Agreement to Significantly Advance Broadband Delivery of Streaming Media Level 3 To Provide Network Transmission Services For Majority of Broadcast.com Traffic Broadcast.com To Be Exclusive Provider For Level 3 Streaming Media Requirements OMAHA, Neb., and DALLAS, May 27 /PRNewswire/ -- Level 3 Communications, Inc. (Nasdaq: LVLT - news) and broadcast.com (Nasdaq: BCST - news) today jointly announced a strategic five-year agreement that they expect to have far reaching implications for the development and provision of future broadband and digital media streaming services over the Internet. The agreement provides broadcast.com unprecedented access to bandwidth at favorable pricing. Under the terms of the agreement, broadcast.com will use Level 3's international Internet Protocol (IP) network to deliver its audio and video content to mass, scalable audiences at reduced fees. In addition, Level 3 will use broadcast.com as its exclusive provider of turnkey Internet broadcasting solutions for live and on-demand corporate communications for Level 3 and its customers. For example, broadcast.com will be streaming Level 3's annual meeting of stockholders being held today in Omaha, Nebraska. The broadcast is expected to be available on both companies' Web pages at www.Level3.com and www.broadcast.com later today. The companies also expect that they will work together to develop future products in multicasting and other areas to enhance delivery of broadband video content and digital streaming services by both organizations and their customers. ''Through our relationship with Level 3 Communications, we will gain access to the first end-to-end IP-based fiber network in the world. Together we will take Internet broadcasting to the next level, as we can deliver high-quality broadband content at increased bit rates to mass, scalable audiences,'' said Todd Wagner, chief executive officer of broadcast.com. ''Broadcast.com is committed to scaling our network to provide our customers with a complete, end-to-end broadband and digital media streaming solution. With this agreement, we will be able deliver these solutions more economically with lower bandwidth costs.'' ''We are also pleased that Level 3 has chosen broadcast.com as its exclusive streaming media provider, further strengthening our leadership position in business-to-business broadcasting,'' said Wagner. Broadcast.com Business Services provides turnkey Internet broadcasting services for thousands of corporations and organizations, delivering live and on-demand audio and video solutions for a variety of corporate communications applications including seminars, product launches, keynote addresses, distance learning, annual shareholder meetings and quarterly earnings calls. Broadcasts are accessible via the Internet or intranets and can be customized with interactive features including multimedia slide presentations, user registration and tracking, question and answer tools, and archiving. ''We are happy to be associated with broadcast.com as both a customer and a provider of streaming media services,'' said James Q. Crowe, president and CEO of Level 3. ''As the leading aggregator and broadcaster of streaming media on the Web, broadcast.com currently serves an average of more than 1.1 million unique users per day and provides Internet broadcasting services for thousands of corporations and organizations.'' ''The communications industry over the past 100 years or so has built a network that in effect extended the reach of our ears literally around the world and at a reasonable cost,'' said Crowe. ''But, we are now entering a new era in communications - one that will extend the reach of our eyes. The Internet and the services provided by broadcast.com are the beginning. We are proud to be providing the broadband capacity for broadcast.com to pave the way with enhanced video and audio services.''