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Flag Raised
DSL provider Covad Communications is in danger of having its shares delisted from Nasdaq because it is late in making its annual 10-K report to the Securities and Exchange Commission. Covad says it expects to file on May 7 but said it was delayed by accounting complexities “caused by the rapid growth in our business and the financial difficulties experienced by some of our [Internet service provider] partners in 2000.”
Gotta Have Hart
At Home, known as Excite@Home, on Tuesday named former Telocity CEO Patti S. Hart to head the company, and announced a wider-than-expected first-quarter loss. Current Chairman George Bell has resigned and will leave the company.
Market Boom
Infonetics Research estimates spending on metro network equipment in the U.S. and Canada will grow to $17.2 billion by 2003, up from $6.3 billion last year.
Terms OK
Verizon Communications wont have to break itself into retail and wholesale units under the terms of a deal offered by the Pennsylvania Public Utility Commission. Verizon, the states largest telephone company, says it is OK with stiffer penalties for discriminating against competitors, lower fees for companies who provide phone service in rural areas and will provide competitive carriers the same access to its network as it provides to its own retail operations.
Big TV
The big four television networks — ABC, CBS, Fox and NBC — are free to merge with upstarts UPN and WB under changes to the Federal Communications Commission “dual-network” rule. The panel concluded that since the top six broadcast networks account for only 58 percent of television viewership, down from 71 percent in 1996, allowing pairings between the stalwarts and upstarts would threaten neither competition nor diversity of programming.