Level 3 deals questioned
The Securities and Exchange Commission is scrutinizing Level 3 Communications' accounting and could force the telco to wipe out $232 million in non-cash profits from the past four quarters, the company said Wednesday.
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Level 3 gets downgrade
An investment in Level 3 bonds is safer than a loan to WorldCom but not quite as safe as handing it over to the Kingdom of Thailand. That's the opinion of Standard & Poor's Corp., which downgraded the Broomfield company's creditworthiness one notch to "CCC" Tuesday.
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Williams rejects Level 3's attempt to purchase assets
Level 3's halfhearted bid to purchase all or parts of Williams Communications fell short when Williams' board of directors chose a competing bid from Leucadia National Corp.
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Level 3 sees opportunity
There was a spirit in the room at Level 3 Communications' annual meeting Wednesday in Omaha, but it was more than two hours into the event before his name was spoken. The name was Warren Buffett, the world-famous Omaha investor.
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RELATED...  Level 3 bids for Tulsa competitor
Microsoft's Xbox Live to launch with Level 3
Level 3 Communications, fresh from raising a $500 million investment and beating financial expectations for the quarter, announced this week that it will be the sole broadband provider for Xbox Live.
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Scandal surrounds IPOs
The latest Wall Street allegations of wrongdoing involving former WorldCom CEO Bernard Ebbers have ensnared not only Joe Nacchio, former CEO of Qwest, but Level 3 CEO James Crowe, as well.
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RELATED... Level 3 beats projection, loses 58 cents per share
Analyst lowers Level 3 rating
Talk about independence: Legg Mason analyst Daniel Zito downgraded Level 3 from "hold" to "sell" Monday, even though Legg Mason is the largest outside owner of Level 3 stock with more than 35 million shares.
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RELATED... Level 3 urges shareholders to OK shares
WorldCom assets may be targeted by Level 3
The bankruptcy of WorldCom probably won't have an immediate, measurable effect on the Colorado economy, but the event could send local businesses into a frenzy of activity.
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Hawkins embraces Buffett's philosophy
The lead investor in Level 3 this week isn't Warren Buffett - but he sounds suspiciously like the Oracle of Omaha. Call him, perhaps, the Moneymaker of Memphis: Mason Hawkins, a Tennessee-based fund manager whose Longleaf Partners Funds takes a page - if not the whole playbook - from Buffett.
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Buffett gives Level 3 a lift
Legendary investor Warren Buffett's part in a $500 million infusion for struggling telecommunication company Level 3 sent the Broomfield company's stock soaring almost 51 percent on Monday.
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RELATED... Buffett solidifies ties with Level 3 chairman
RELATED... Big bond buyers create Level 3 confidence; shares jump 51%
RELATED... Q&A with James Crowe
Level 3 makes 220 more cuts
Level 3 Communications is cutting 220 more jobs as it tries to survive the global telecommunications meltdown.
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Level 3 execs get raises, lose bonuses
Top executives of Level 3 Communications got respectable pay raises in 2001, but their bonuses were slashed and all waived their right to exercise new stock options in order to save the company cash, according to the company's proxy Thursday.
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Level 3 pays $109 million to buy Software Spectrum
Broomfield-based Level 3 Communications said Tuesday it has completed its acquisition of the Dallas-based business software company Software Spectrum for $109 million.
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Level 3 agrees to buy Dallas tech company
Broomfield-based Level 3 Communications on Thursday agreed to buy a Dallas business software company for $122 million in cash, the second software acquisition this year.
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Level 3 digs in as a survivor
Another telecommunications company filed for bankruptcy protection Tuesday, and it wasn't Level 3 -- probably enough in itself to drive up the Broomfield-based company's stock.
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Level 3 on list of possible Global Crossing bidders
Level 3 Communications has been identified as a possible bidder for the assets of Global Crossing, the bankrupt fiber-optic network operator.
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Level 3 chief eyeing bargains
The idea of Level 3 Communications Inc. bidding for the assets of bankrupt Global Crossing Ltd. or another distressed fiber-optic company struck some analysts Tuesday as intriguing but puzzling.
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Level 3 signs pact with United Online
Level 3 Communications said Monday it has signed a new three-year, multimillion-dollar agreement with United Online Inc., which operates the recent-merged NetZero and Juno Internet services.
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Level 3 puts Broomfield office space up for sale
Level 3 Communications Inc. is trying to sell 340,000 square feet of office space -- 40 percent of its sprawling Broomfield campus.
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Level 3 in fine shape, exec says
A Level 3 executive reiterated this week that the Broomfield-based fiber-optic company has enough cash to support all of its debt obligations even if sales don't improve.
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Level 3 stock jumps on news of acquisition
Level 3 Communications Inc.'s stock surged 23 percent Monday after announcing an acquisition that it said will keep the company from violating bank agreements at least through mid-2003.
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Level 3 defends its accounting
Level 3 Communications stepped up to defend its accounting practices Wednesday as questions about financial statements continue to cloud the telecom industry.
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For telecoms, a familiar ring
Level 3 Communications Inc. lost $3.28 billion in its fourth quarter and warned Tuesday that it might violate its bank covenants as early as mid-year should sales continue to be sluggish.
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Cox Communications moves internet service to Level 3
Level 3 Communications Inc. has agreed to provide Cox Communications Inc. with the broadband infrastructure required for Cox customers to remain hooked up to their high-speed cable modems.
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Level 3 seals deal with Sony
Broomfield-based Level 3 Communications Inc. has formalized its relationship with Sony Pictures Digital Entertainment by signing a contract to provide broadband services for the Screenblast Web site.
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Level 3 pulls plug on Asia; sale to save $300 million
Level 3 Communications Inc. said it will save $300 million by selling its Asian network, a move characterized by one analyst Wednesday as hunkering down and by another as "walking away from a bad mortgage."
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Level 3 sells its Asian network
Level 3 Communications Inc. reached a deal early today to unload its Asian network to a Hong Kong-based telecommunications venture.
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Report: Level 3 selling Asian assets
Level 3 Communications Inc. could announce as early as this week a deal to sell some or all of its Asian telecommunications assets, according to reports and sources.
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Level 3: No bandwidth trades
Level 3 and Qwest tried to distance themselves Monday from allegations that bankrupt Enron Corp.'s broadband, or communications capacity, trades were mostly shams.
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Level 3 revenue true to forecast
Broomfield-based Level 3 Communications Inc. said it will meet its fourth-quarter revenue forecast even after Enron Corp. filed for bankruptcy protection.
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Level 3 to expand presence in Europe
Broomfield-based Level 3 Communications Inc. on Tuesday announced plans to offer telecom services in eight additional markets across Western Europe next year.
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Level 3's stock surges on news of AOL's purchase of services
Shares of Level 3 Communications soared Tuesday on news that America Online Inc. will purchase additional high-speed services from the Broomfield fiber-optic company.
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RELATED... Boosted by AOL contract, Level 3 leads state stocks
Level 3 assets catch Asia firm's eye
One of Asia's major providers of wholesale telecommunications services reportedly is considering buying assets from or merging with Broomfield-based Level 3 Communications Inc.
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Level 3 up 33 percent in light of changes
Shares of Level 3 Communications Inc. rose 33 percent to $7.32 Wednesday, perhaps signaling increasing investor confidence in the ability of the Broomfield fiber-optic network operator to survive the downturn.
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Level 3 chief upbeat about info industry
Level 3 Chief Executive James Crowe predicted Thursday an eventual tidal wave of growth in the business of transporting information, but he stopped short of saying whether the Broomfield-based company would emerge as one of the industry's big winners.
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Level 3 negotiates buyback
Level 3 Communications said Tuesday that it will spend $721 million in cash to buy back about $1.7 billion of debt, the result of a tender offer to bondholders completed Monday.
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Level 3 cuts debt buyback target
Broomfield-based Level 3 Communications Inc. on Tuesday cut the maximum target of a recently announced debt buyback plan from $1.8 billion to $1.5 billion.
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Level 3 swaps stock for debt
Level 3 Communications Inc. swapped 14 million shares of stock for nearly $170 million of debt in August, according to a filing last week with the Securities and Exchange Commission.
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Level 3 to buy back own bonds
Broomfield-based Level 3 Communications Inc. has decided to spend up to $814 million on its own discounted bonds in a reverse auction.
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Some still hold out hope for Level 3
Steve Shanahan was one of thousands of Omaha investors who rushed to buy Level 3 Communications Inc. stock after the company spun off from Peter Kiewit Sons' Inc. in 1998. Like other Americans, Omaha investors were caught up in the Internet frenzy of the time. And there was another reason for investing in the company: Many felt that what was good for Kiewit must be good for them.
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One man's loser is another's gem
When it comes to Level 3 stock, what looks like a bad deal to one investor, is a great deal to another. Janus Capital Corp. has dumped its investments in Level 3 in recent months, but the stock sales have been more than offset with a buying frenzy by a Baltimore fund manager considered the "Joe DiMaggio" of the industry.
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