Shentel Cable has agreed to buy the mostly rural-based cable TV operations of JetBroadband for $148 million, as the telecom continued its efforts to diversify its business after acquiring Rapid Communications' cable systems in late 2008. JetBroadband, which passes 114,000 homes in southern Virginia and West Virginia, will broaden Shentel's existing 25,000-subscriber footprint.
AT&T's U-verse TV and broadband service advanced steadily in the first quarter as the carrier added 231,000 video customers and about 208,000 to its broadband base, the telecom reported today, saying that three-fourths of its U-verse base takes a triple-play or quad-play bundle. At a 13% penetration rate, AT&T said that U-verse TV reached 2.295 million homes. In wireless, AT&T added 1.9 million net new subscribers, many of them attributed to its foray into the connected-device market as revenue increased slightly at the entire company from a year earlier.
Tech and telecom ministers are lobbying the European Commission to foster and support open standards and interoperability in IT government procurement. "Europe will be best served if it spends less time looking backwards on preserving the status quo and current business practice, and more time on encouraging new opportunity and innovation," said Graham Taylor, CEO of the Open Forum Europe organization.
In a move to shore up its South Korean market, Ericsson is acquiring Nortel Networks' stake in its joint venture with LG Electronics for $242 million in cash. The Swedish network-equipment vendor says the deal will provide a solid sales channel and research and development capabilities.
Network-equipment maker Juniper Networks met analysts' forecasts in its first-quarter report Tuesday and issued a second-quarter forecast in line with expectations as the company charts a course to focus more on corporate clients. CEO Kevin Johnson reported that he saw solid signals that carriers had begun to pick up their spending, but investors were disappointed that Juniper did not post more robust forecast figures.