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Verizon Communications Extends Symmetrical SpeedMatch Offer to Small Business Customers
Communications announced that it is extending its symmetrical upload speeds to its small business customers. Beginning September 22, Verizon's business subscribers were upgraded to receive the same SpeedMatch upload rates as their residential counterparts. This means that all plans will now provide the exact same upload rate as the current download rate customers are receiving. The telecom provides the example of a company that used to receive 50Mbps download rates with 25Mbps upload rates. That customer will now receive 50Mbps upload rates as well. Verizon has promised that all small business users will be upgraded to their new speeds within the coming weeks. In the meantime, eligible customers can visit Verizon's
Web site for more information.
Bell Canada Successfully Completes First Stage of Bell Aliant Privatization
successfully completed the first phase of its ongoing plans to transition Bell Aliant into a privately held company. During the initial phase, 103,486,954 Bell Aliant common shares, or 81.2% of the outstanding publicly held stock, were tendered for exchange. These shares will be paid for on September 24, 2014, with an expected close date for the privatization transaction of October 31, 2014. As all regulatory approvals have already been satisfied, and the quota for the first phase has been met, the company will be able to proceed with its transaction regardless of the remaining shareholders' intent. However, Bell noted that the tender offer has been extended to the close of business on October 5 for any outstanding shareholders that wish to tender their stock. Any remaining shares still left in private hands after this period will be purchased through compulsory acquisition on October 31.
AT&T and The Chernin Group Jointly Acquire Fullscreen
AT&T announced the joint venture between it and The Chernin Group, Otter Media, has agreed to acquire a majority stake in Fullscreen, a "global online media company." The acquired company's current CEO and Founder, George Strompolos, will continue in his role, and will maintain a "material ownership stake" in the company. According to AT&T, Fullscreen has contracts with YouTube and other major online video providers, resulting in its products reaching more than 50 million subscribers and generating 4 billion monthly views. The transaction is expected to close some time within the next month, subject to regulatory approvals. No financial terms for the agreement have been disclosed.
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