Excerpts: Stacking the Deck Leo Hindery’s place at the centre of America’s cable and telecom industry over the past two decades has been obscured by men whose lives are really spent in the headlines—Rupert Murdoch, John Malone or AT&T’s Michael Armstrong. But this has given Mr. Hindery something that every author craves, an inside view […]
Excerpts: Global Crossing Form 10-K, filed on February 04, 2001 2.12 Agreement and Plan of Merger among Exodus Communications, Inc., Einstein Acquisition Corp., Global Crossing GlobalCenter Holdings, Inc., GlobalCenter Holding Co., GlobalCenter Inc., and Global Crossing North America, Inc., dated as of September 28, 2000 (incorporated by reference to the Registrant’s Current Report on Form
Excerpts: Global Crossing’s 10-K. In January 2001, we sold our GlobalCenter web hosting business to Exodus Communications, Inc. for 108.2 million Exodus common shares, representing approximately 20.0% of its outstanding shares at the effective time of the merger. As of that date, the value of the transaction was approximately $1.95 billion. As part of the
Excerpts: “Global Crossing’s Recurring Adjusted EBITDA up 91%, Cash Revenue up 46%, from Third Quarter of 1999, Pro Forma for M&A Activity.” Results for continuing operations exclude Global Crossing’s incumbent local exchange carrier business (ILEC), which the Company has agreed to sell to Citizens Communications for an estimated $3.65 billion in cash. GlobalCenter, which the
Excerpts: “Global Crossing’s Leo Hindery for Hire: Quits After Just 10 Mos.” A year later, he repeated the fix-and-flip process at Global Crossing by packaging its fiber optic Internet pipelines and selling them to Exodus Communications for $6.1 billion. That gave Hindery a profit of $205 million for his 10 months of work there. Global
Excerpt: “Global Crossing: CEO Leo Hindery is Out, Thomas Casey is In” Leo Hindery, former head of AT&T Corp.’s cable television operations, had only been at the job seven months. He joined Global Crossing last December and succeeded former CEO Bob Annunziata in March. But in the past few months, Global Crossing stock has tumbled
Excerpts: Global Crossing CEO out Analysts surveyed by earnings tracker First Call forecast Global Crossing (GBLX: Research, Estimates) lost 71 cents a share in the recently completed third quarter, more than the 7 cents a share loss in the year-earlier quarter. It is expected to lose $2.56 a share in 2000 and $2.58 a share
Excerpts: Global Crossing: Who’s in Charge? Global Crossing Ltd. (Nasdaq: GBLX) announced this morning that CEO Leo Hindery was leaving his post “by mutual agreement” after seven months on the job. According to Casey, the carrier is on target to meet and probably exceed its earnings estimates, including over $1 billion recurring adjusted EBITDA (earnings
Excerpts: Moneyline News Hour Willow Bay: And I’ll talk with a cable industry heavyweight on his new job, Global Crossing CEO Leo Hindery. Willow Bay: I’d like to hear this from you in your new role as CEO, is Global Crossing in talks with Deutsche Telekom? Leo Hindery: Willow, we try not to comment on
GlobalCenter Gets Ready to Come Out — Again GlobalCenter scrapped its plans to go public back in the fall of 1997 when it was acquired by long-distance carrier Frontier “I think Global Crossing and GlobalCenter will perform better and function better side by side than one under the other,” said Leo Hindery. “You’ll probably see
