Sprint Nextel Affiliate Thwarted
Sprint Nextel said an arbitration panel denied a request by affiliate Nextel Partners to delay a national rollout of the new Sprint brand while the companies settle a dispute. The recently merged Sprint Nextel of Reston owns about one-third of the affiliate, which sells Nextel services in more than 30 states. Nextel Partners has said it wants to exercise a contract provision that mandates its acquisition by the larger company, but the companies have disagreed over the value of the affiliate's shares.
The panel also said that Sprint Nextel is not required to allow Nextel Partners to use the new Sprint logo or to sell certain Nextel products without the Sprint brand.
TiVo Cuts Basic Recorder Price
TiVo, a maker of digital video recorders, cut the price of its basic machine to $49.99 after service activation and a $150 mail-in rebate on recorders purchased before Nov. 27.
Former Executive Slams Microsoft
Former Microsoft executive Kai-Fu Lee accused the company of incompetence in its plans to gain a business footing in China, and testified that being yelled at by Chairman Bill Gates was a low point of his career before he defected to rival Google. In testimony during a hearing on Microsoft's lawsuit against Lee and Google, Lee said he wrote a memo to another Microsoft executive saying he was "deeply disappointed at our incompetence in China -- that we have wasted so many years in China with little to show for it."
XM Aims New Channel at Women
XM Satellite Radio Holdings will launch Take Five, its newest channel, in October with audio broadcasts of the Emmy Award-winning "Ellen DeGeneres Show" and a new syndicated talk program hosted by Tyra Banks. Take Five also will air Food Network and HGTV programs and some original shows, the Washington-based company said.
NCI Sets Terms for IPO
NCI, a Reston provider of information-technology services to the federal government, set the terms for an initial public offering of 5.15 million shares at an estimated price range of $10 to $12 a share.
Proceeds from the IPO will be used to pay debt, as well as for working capital and general purposes such as acquisitions. Managers of the offering received an option to sell up to 772,500 additional shares to meet demand, the company's Securities and Exchange Commission filing said.
Compiled from staff and news service reports.