Washington – The federal government will award the second of two multibillion-dollar telecommunications contracts Thursday.
Denver-based Qwest Communications and Broomfield-based Level 3 Communications are in the running for the Networx contract, called Enterprise, which could be worth $20 billion over 10 years.
Qwest, AT&T and Verizon Communications were awarded the first part of the contract, called Universal and worth up to $48 billion over 10 years. Level 3 didn’t compete for Universal.
DENVER
Specialty Sports buys Breeze Ski Rental
Specialty Sports Ventures, a joint venture majority-owned by Vail Resorts Inc., announced Tuesday it is acquiring 18 Breeze Ski Rental shops for $6.5 million.
The shops are located in Colorado, Utah and California. The sale also includes an agreement for Vail Resorts to directly acquire two locations that are Starbucks-licensed stores.
DOUGLAS COUNTY
EchoStar to let Dish users rent MGM films
EchoStar Communications Corp. agreed to let subscribers to its Dish satellite-television network order movies from Metro-Goldwyn-Mayer Inc.’s catalog of about 4,000 films.
The movies are available through Dish’s on-demand service or pay-per-view, Douglas County-based EchoStar said Tuesday in a statement. Terms weren’t disclosed.
DES MOINES, Iowa
Signed bill lets Qwest seek state’s video OK
Iowa Gov. Chet Culver has signed a bill that will allow Qwest and others to bypass individual municipalities and seek statewide approval to offer video services, a Qwest spokeswoman said Tuesday. Qwest failed in its push for a similar measure in Colorado this year.
BROOMFIELD
Level 3 lead sponsor of ’07 Webby Awards
Level 3 Communications will serve as the lead sponsor of the 11th annual Webby Awards, which will be held in New York City on Tuesday.
The Webby Awards honors websites, online film and video, interactive advertising and mobile content. Level 3, based in Broomfield, operates a global fiber-optic communications network.
ALBUQUERQUE
Judge stymies FTC’s push to block merger
A federal judge on Tuesday denied the Federal Trade Commission’s efforts to block a proposed $1.3 billion merger between Western Refining and Giant Industries, clearing the way for the gasoline companies to join forces.
Western Refining Inc. president Paul Foster said the decision by U.S. District Judge James Browning, allowing the merger to proceed, will help the companies keep fuel prices lower by combining resources.
KATONAH, N.Y.
Stewart riling Indians with “Katonah” action
Martha Stewart’s attempt to trademark “Katonah” – a move that has already riled some of her village neighbors – has now upset some American Indians because the name originally belonged to a 17th-century chief.
Two members of the Ramapough Lenape Indian Nation, which claims Chief Katonah as its own, have joined the anti- trademark battle being waged by the Katonah Village Improvement Society. Other American Indian leaders on Tuesday said that Stewart’s trademark application was offensive.
CHICAGO
Boeing wins jet order worth $2.4 billion
Boeing Co., seeking to regain the lead in commercial jet sales from Airbus SAS, won a 787 Dreamliner order valued at $2.4 billion from Russia’s S7 Airlines to replace planes in the carrier’s aging fleet.
The contract marks Boeing’s first Russian 787 order and calls for delivery of 15 planes beginning in 2014. The airline, based in Novosibirsk, Siberia, also signed for options on 10 additional Dreamliners.
BOSTON
IBM takes on debt to finance stock plan
IBM Corp. disclosed Tuesday that it is taking on $11.5 billion in new debt to finance an aggressive acceleration of its stock-repurchase plan, which the company believes is one of the largest such steps ever.
IBM had already announced that it would be ramping up its already massive stock buyback, and the technology company also had said it expected to borrow money to get it done.
But a Tuesday filing with the Securities and Exchange Commission revealed the big scope of the project.
BASKING RIDGE, N.J.
Avaya negotiates bids on selling all, part of it
Telecommunications gear maker Avaya is negotiating with private-equity and strategic bidders about selling all or part of the company, according to a media report.
The Wall Street Journal, citing people familiar with the matter, said would-be buyers include private-equity firms attracted to the $6 billion company’s cash flow and low debt. Avaya representatives declined to comment on the report.
WASHINGTON
Treasury auctions $29 billion in bills
The Treasury Department auctioned $15 billion in three-month bills at a discount rate of 4.780 percent and an additional $14 billion in six-month bills at a rate of 4.805 percent.
For a $10,000 bill, the three month price was $9,879.17 while a six-month bill sold for $9,757.08.
