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NTL cuts 35 per cent of staff, talks up future
News This is the second round of large-scale layoffs for NTL, which reduced its workforce from 21,000 to 13,000 in 2001 in an effort to cut its then £14bn debt. NTL has today confirmed that 6,000 jobs will be cut from its 17,000-strong payroll as the... [09 May 2006]
Ex-Hollywood high-flyer files for bankruptcy protection
News SGI, a former high-flying server and workstation maker for Hollywood and the graphics industry, said it reached a voluntary agreement with its debt holders to simplify its capital arrangements and cut its debt by about $250m under the... [09 May 2006]
Telewest debt forces major rethink
News Robert Bennett, CEO of Liberty Media, said it was about to start talks with debt laden Telewest to discuss the possibility of swapping debt for another equity stake. UK cable company Telewest is on the verge of a complete restructure as stakeholder... [14 Jun 2002]
Murdoch's billion dollar peace with WorldCom
News The company is likely to use the funds to reduce debt. Rupert Murdoch's News Corp has settled a long running dispute by giving $930m to WorldCom. The payment marks the final chapter in News Corp's 1995 venture with telco and eventual WorldCom... [22 Feb 2002]
NTL eyes restructuring options
News NTL has called in Credit Suisse First Boston to advise it on the best strategy for restructuring its $17bn debt. Shareholders and industry watchers alike have cast doubts recently about the cable provider's ability to pay off its considerable debt... [11 Jan 2002]
AT&T fancies a bit of Excite@Home
News Excite@Home has been staggering under the weight of a $1bn debt but has made no announcement about filing for Chapter 11 protection. AT&T is considering buying some of the assets of Excite@Home, the flagging access and content provider. [27 Sep 2001]
Colt's woes increase as spending slashed
News Colt CEO Peter Manning said the company had full funding through to the third or fourth quarter 2002 and was reviewing its debt and equity options, according to The Times. Colt published its interim results three days early and warned of increasing... [07 Aug 2001]
Telewest gets £2.25bn to tackle debt
News The new funding has enabled the company to pay off existing borrowings, amounting to £1.7bn. It has immediate access to £2bn with an additional £250m available from institutional backers. These are lean times for media and telecoms companies and... [19 Mar 2001]
Globalstar gets more funding
News The companies were forced to invest as Globalstar was unable to honour a debt of $250m to the Chase Manhattan bank in June. In accordance with subscription agreements, Loral Space & Communications, Vodafone, Qualcomm, Elsacom and the France... [26 Sep 2000]
