Key Developments: Level 3 Communications Inc (LVLT.N)
21.96USD
18 Jun 2013
$0.34 (+1.57%)
$21.62
$21.64
$22.25
$21.64
325,678
330,723
$25.25
$16.36
Latest Key Developments (Source: Significant Developments)
Standard & Poor's Ratings Services Lifts Level 3 Communications Inc Rating On Improved Leverage-DJ
Dow Jones reported that Standard & Poor's Ratings Services upgraded its rating on Level 3 Communications Inc. by one notch, citing the network-services company's improved debt leverage following its acquisition of Global Crossing Ltd. S&P lifted the Company's rating to B, five levels below investment grade, from B-minus. The outlook is stable. The ratings firm noted Level 3's debt leverage improved initially as a result of its acquisition of lower-leveraged Global Crossing in October 2011 and subsequently improved from the realization of the bulk of an expected $300 million of annual operating synergies. Full Article
FOX Network Selects Level 3 Communications Inc To Broadcast UEFA Champions League Soccer Final Throughout U.S.A
Level 3 Communications Inc announced that it is providing video broadcast services to enable FOX Network to deliver the live feed of the Union of European Football Associations' (UEFA) annual championship soccer final to viewers across the U.S. Level 3's global fiber network is directly connected to Wembley Stadium, which allows Level 3 to deploy its Vyvx Solutions to provide an end-to-end video broadcast solution to FOX. Level 3 will take the feed from the game in London and deliver it to FOX Network, FOX Soccer Channel and FOX Deportes in Los Angeles for distribution to U.S. viewers. Full Article
Level 3 Communications Inc Reaffirms FY 2013 EBITDA Guidance
Level 3 Communications Inc announced that for fiscal 2013, it continues to expect low double digit adjusted EBITDA percentage growth compared to fiscal 2012. The Company reported EBITDA of $1.459 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $1.613 billion for fiscal 2013. Full Article
Level 3 Communications Inc Announces Jeff K. Storey As Chief Executive Officer
Level 3 Communications Inc announced that Jeff K. Storey has been appointed by the Board of Directors to be the Company's President and Chief Executive Officer (CEO), effective immediately. Full Article
Level 3 Communications Inc Secures Contract From U.S. General Services Administration
Level 3 Communications Inc announced that the U.S. General Services Administration (GSA) has awarded the Company a multiple year competitive contract known as GSA Region 4 Integrated Telecommunications Services (GRITS) II. The contract allows Level 3 to bid on and provide communications services to all federal agencies and organizations authorized to use GSA sources of supply and services in the region. The fixed price with economic price adjustment (EPA) contract has a total estimated potential value of up to approximately $285 million, which includes the four-year base term with six additional option years. Full Article
Spil Games Selects Level 3 Communications Inc To Power Online And Mobile Gaming Portfolio
Level 3 Communications Inc announced it is providing high-speed IP (HSIP) and content delivery network (CDN) services for Spil Games, one of the online gaming platforms. Spil Games, which has 180 million monthly active users, offers a global platform of casual and interactive social games designed for girls, teens and families - in 15 different languages. Full Article
Level 3 Communications Inc Raises FY 2013 Guidance-Conference Call
Level 3 Communications Inc announced that for fiscal 2013, it expects EBITDA to grow more than 10%. The Company reported EBITDA of $1.459 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $1.616 billion for fiscal 2013. Full Article
Level 3 Communications Inc Announces Transition Of CEO-Form 8-K
Level 3 Communications Inc reported in its Form 8-K that on March 7, 2013, Level 3 Communications, Inc. (Level 3) issued a press release to announce that its Chief Executive Officer (CEO), James Q. Crowe, has informed the Level 3 Board of Directors (Board) of his intention to transition out of his position as Chief Executive Officer (CEO) by the end of 2013. Full Article
Level 3 Communications Inc Wins Contract from Rocket Internet GmbH
Level 3 Communications Inc announced that it has signed an agreement with Rocket Internet GmbH (Rocket) to provide Rocket, which is a commercial websites developer, with the Company's hosting and network connectivity services within the framework of its websites activity in Brazil. Financial terms of the agreement were not disclosed. Full Article
Level 3 Communications Inc Issues FY 2013 EBITDA Guidance Below Analysts' Estimates-Conference Call
Level 3 Communications Inc announced that for fiscal 2013, it expects continued low double-digit adjusted EBITDA percentage growth compared to the reported fiscal 2012 adjusted EBITDA or $1.459 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $1.712 billion for fiscal 2013. Full Article
Corvex's Meister likes TW Telecom, says possible takeover target
NEW YORK, May 8 - Keith Meister, managing partner and chief investment officer of Corvex Management, said on Wednesday that alternative carriers TW Telecom Inc and Level 3 Communications Inc could be on a par with industry heavyweights AT&T and Verizon in coming years.
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