Yes90 tviNews • 102 How its done in the world of Telecom.• • Ebbers of MCI WorldCom Found Guilty, Then Verizon Qwest Offers $8billion for MCI Qwest Raises Its Bid for MCI to $8.94 Billion / 102 MCI Deal With Verizon Soured May Pull Out of Bidding Paul Allen Television International Magazine's Person Of The Week POW61 • 142005 - / PAUL ALLEN / Front Cover Vol 49-POW61 • TVI 61 Cover Photo: Feature Story • NEWS Convergence - 14th Week of 142005 / Smart90, s90tv, lookradio, tvimagazine, dv90, vratv, xingtv, Ddiaries, nbs100, Look Radio, Josie Cory, Television With No Borders • Feature Story

Click for Movie
LookRadio

Click for tviNews PERSON OF THE WEEK

Yes108 See SOW Movie

(You MAY need the FREE QuickTime plug-in to view and hear s90tv)

102 How its done in the world of Telecom. High Finance • • Ebbers of MCI WorldCom Found Guilty, Then Verizon Qwest Offers $8billion for MCI Qwest Raises Its Bid for MCI to $8.94 Billion
• • Former MCI WorldCom Chief Found Guilty of Fraud A federal jury convicted former WorldCom Inc. Chief Executive Bernard J. Ebbers of orchestrating an $11-billion accounting fraud. The verdict could have deep repercussions for other disgraced executives who say..
• • Former WorldCom Chief Found Guilty of Fraud

PERSON
OF THE WEEK

This Weeks Cover

Buy Amazon•

TVI Magazine
Back Issues

HOLLYWOOD
BEAT

Amazon

soulfind.com

LookRadio
RadioPlayMusic

Video Previews / See a VRA TelePlay Movie

View Image

02

Follow The Money
 </TD> <TD WIDTH=10> </TD> </TR> <TR> <TD WIDTH=5> </TD> <TD WIDTH=5> </TD> <TD WIDTH=110> <A HREF="http://www.smart90.com/santa">CHINA MOON 2004</A> <iframe src="http://rcm.amazon.com/e/cm?t=smart90com00&o=1&p=8&l=as1&asins=B00063E78C&fc1=000000&=1&lc1=0000ff&lt1=_top&IS2=1&bg1=FFFF66&f=ifr" width="120" height="240" scrolling="no" marginwidth="0" marginheight="0" frameborder="0"> </TD> <TD WIDTH=10> </TD> </TR> <TR> <TD VALIGN=top class=spacer5 WIDTH=5 BGCOLOR="#FFFFFF">   </TD> <TD VALIGN=top WIDTH=5 BGCOLOR="#FFFFFF"> </TD> <TD VALIGN=top WIDTH=110 BGCOLOR="#FFFFFF"> <A HREF="#at">Return To Top</A>' </TD> <TD WIDTH=10> </TD> </TR> </TABLE> A federal jury convicted former WorldCom Inc. Chief Executive Bernard J. Ebbers of orchestrating an $11-billion accounting fraud. The verdict could have deep repercussions for other disgraced executives who say they were unaware of financial scams taking root beneath them. Ebbers, 63, was found guilty of securities fraud, conspiracy and filing false documents with regulators. He was convicted on all nine counts that he faced. Legal experts said the jury's decision boded poorly for toppled executives Kenneth L. Lay of Enron Corp. and Richard Scrushy of HealthSouth Corp., who are employing variations of the above-the-fray defense. Ebbers will be sentenced June 13, and a lengthy sentence could effectively mean life behind bars. He declined to comment after the verdict. 102 The Qwest Offer - $8billionfor MCI Qwest Raises Its Bid for MCI to $8.94 Billion The cash-and-stock offer is more than $1.4 billion higher than Verizon's competing proposal. A hostile takeover attempt is growing more likely Edging closer to launching a hostile takeover attempt, Qwest Communications International Inc. on Thursday raised its bid for long-distance carrier MCI Inc. again -- this time to $8.94 billion in cash and stock. The increase puts Qwest's bid more than $1.4 billion higher than the offer MCI's board accepted Tuesday from Verizon Communications Inc., the nation's largest phone company. MCI said its board, which has rejected Qwest three times so far, "will review the revised proposal and respond accordingly." Qwest said the company must respond by midnight Tuesday. "The ball is back in Verizon's court and our baseline assumption is it will come back to MCI with an improved offer," said Wall Street analyst David Barden of Banc of America Securities. Verizon wouldn't comment on Qwest's bid or on what it might do. The latest revised bid helped spur MCI's stock to a 12-month high of $24.90 a share, up 45 cents on Nasdaq. Qwest has hired proxy advisor Altman Group Inc., which helps solicit support from shareholders in takeover battles. Qwest has been talking with large MCI shareholders dissatisfied with the lower Verizon offer. But launching a hostile takeover is expensive, and Qwest already is offering a purchase price well above its own stock market value, which was $6.7 billion based on Thursday's closing stock price of $3.70 a share, down 7 cents on the New York Stock Exchange. MCI's directors believe a deal with Verizon makes more sense because together they can compete better for corporate and government customers against the goliath company being put together with SBC Communications Inc.'s pending acquisition of AT&T Corp., the nation's largest long-distance company. Verizon also is financially stronger than Qwest and operates the second-largest mobile phone company. Qwest, the smallest of the Bell operating companies, which own most of the nation's local phone networks, is the only one of those companies without its own wireless service. In a letter Thursday, Qwest Chairman Richard C. Notebaert chastised MCI's board for consistently favoring Verizon despite Qwest's higher bids and for secretly negotiating an amended deal with Verizon when it was supposed to be focused on Qwest's last proposal. In Thursday's revised offer, Qwest said it would pay $27.50 for each MCI share, including $13.50 in cash and $14 in Qwest stock. Its previous offer of $25.60 a share, amounting to $8.32 billion, consisted of $10.10 in cash and $15.50 in stock. Verizon's revised bid consists of $8.35 in cash and $14.75 in stock, adding up to $23.10 a share, or a total of $7.51 billion. Verizon shares rose 7 cents to $35.50 on the New York Stock Exchange. /// MCI Wants to Reopen Talks With Qwest To Raise Its Stock Quotes April 2, 2005 / The Denver-based suitor is skeptical of the request and reiterates its offer's deadline. MCI Inc. invited Qwest Communications International Inc. to reopen merger talks Friday, just three days after the long-distance phone company agreed to a sweetened $7.5-billion buyout from Verizon Communications Inc. and a day after Qwest raised its bid to nearly $9 billion. Qwest dismissed the gesture as disingenuous and reiterated a Tuesday deadline for MCI to accept or reject its offer. The Denver-based company noted that when MCI agreed to the new Verizon deal Tuesday, it notified Qwest that there was no need for additional discussions. "Therefore, it is questionable what additional information the MCI board would require at this time," Qwest said in a statement. The news release also criticized MCI for agreeing to new provisions in the Verizon deal that handcuff MCI's ability to terminate that contract in favor of a superior proposal. "We urge the MCI board to cease its favoritism and run a fair, transparent, complete and timely sales process." MCI's stock rose for a fourth straight session Friday -- to a level nearly 10% higher than the price Verizon has agreed to pay -- as investors again speculated that either Verizon would be forced to boost its bid again or Qwest might pull off an upset in the two-month tussle. Shares of MCI rose 39 cents to $25.29 on Nasdaq. Verizon shares fell 31 cents to $35.19, while Qwest shares slipped 6 cents to $3.64, both on the New York Stock Exchange. Instead of bidding higher, Verizon could try to halt the bidding by triggering a provision in its agreement that would require a straight vote by MCI shareholders on the current deal. In that scenario, Verizon would be betting that longer-term MCI investors are too concerned about Qwest's financial frailty and whether the Qwest shares they would receive as payment would hold their value. Much of the pressure on MCI's board to accept Qwest's offer has come from hedge funds and other short-term investors who would likely dump their Qwest shares soon after receiving them. "We may ask for a vote at some point and have that right under our agreement of [Tuesday], but have not yet. No comment on whether we will," Verizon spokesman Eric Rabe said. 102 MCI Deal With Verizon Soured May Pull Out of Bidding The company says it will end its pursuit if the long-distance carrier prefers Qwest's offer. April 5, 2005 / In a statement, Verizon said, "If the MCI board, capitulating to Qwest's artificial deadline, declares this bid to be 'superior,' it would seem to us that the decision-making process is being driven by the interests of short-term investors rather than the company's long-term strength and viability." "Should this occur, we would no longer be interested in participating in such a process," the statement said, we'll abandon our $7.5-billion buyout offer for MCI Inc. rather than pay more should the long-distance telephone company declare a rival $8.9-billion offer from Qwest Communications International Inc. as superior. Shares of Ashburn, Va.-based MCI fell after the announcement, which came one day before a deadline set by Qwest for MCI to accept or reject its bid. MCI declined to comment on the latest move in the two-month bidding war. The company, formerly known as WorldCom Inc., also wouldn't say whether it planned any response before Qwest's deadline. Shares of MCI fell 21 cents to $25.08 on Nasdaq despite rising as high as $25.50 earlier in the session amid hopes the bidding would produce a higher takeover price. Shares of Verizon gained 46 cents to $35.65, and Qwest shares rose 18 cents to $3.82, both on the New York Stock Exchange. The Verizon deal values MCI at $23.10 a share, to be paid in stock and cash. That's an increase from $20.75 under the agreement the two companies reached in mid-February. Qwest's offer is worth $27.50 in cash and stock, nearly 20% more than the latest Verizon deal. But worries about Denver-based Qwest's weak financial health and the long-term value of its shares have twice prompted MCI's board to accept lower-priced offers from New York-based Verizon as a safer alternative #102MCI Rejects Qwest Deal To Save Verizon Offer April 6, 2005 / MCI Inc. late Tuesday rejected an $8.9-billion buyout proposal from Qwest Communications International Inc., opting instead to stick with a $7.5-billion offer from Verizon Communications Inc. Qwest said it would evaluate the situation before deciding its next move. "We are weighing our options, and shareholders will dictate the next steps in the process," Qwest spokesman Steve Hammack said. "MCI's board of directors has chosen to reject what we believe is a superior offer to acquire MCI." A call seeking comment from MCI was not returned. Qwest previously had said it would hold MCI to a midnight deadline. Qwest Chief Executive Richard Notebaert had told MCI's board in a letter that he would leave the offer on the table if MCI notified Qwest by midnight and publicly declared the bid superior to the Verizon offer no later than noon EDT today. Qwest issued the deadline to MCI last week when it raised its bid by nearly $500 million to $8.9 billion. The news was announced after markets closed. MCI fell 7 cents to $25.01 on Nasdaq. Qwest rose 4 cents to $3.86 and Verizon gained 12 cents to $35.77 on the New York Stock Exchange. /// More Stories <A HREF="http://smart90.com/tvimagazine/2005/1405newsconvergence.htm">Converging News 142005 / Buy Out and Merger Boom LookRadio </A>   <A NAME="Byline Story"></A><A NAME=03></A>ByLines: Editors Note Respectfully Submitted Josie Cory Publisher/Editor TVI Magazine TVI Magazine, tviNews.net, YES90, Your Easy Searh, Associated Press, Reuters, BBC, LA Times, NY Times, VRA's D-Diaries, Industry Press Releases, They Said It and SmartSearch were used in compiling and ascertaining this Yes90 news report. ©1956-2005. Copyright. All rights reserved by: TVI Publications, VRA TelePlay Pictures, xingtv and Big Six Media Entertainments. Tel/Fax: 323 462.1099. <CENTER>We Preserve The Moment <A HREF="#at">Return To Top </A> <FORM ACTION="http://www.amazon.com/exec/obidos/external-search" METHOD=GET style="margin-top: 3; margin-bottom: 3"> <TABLE BORDER=1 BGCOLOR="#FFFFFF"> <TR> <TD VALIGN=top WIDTH=45> <A NAME=Amazon></A> </TD> <TD VALIGN=top WIDTH=500> BUY AMAZON </TD> </TR> <TR> <TD ALIGN=right VALIGN=top WIDTH=45> <A HREF="http://smart90.com/tvimagazine/personoftheweek.htm">Click</A> </TD> <TD VALIGN=top WIDTH=500> <A HREF="http://smart90.com/tvimagazine/personoftheweek.htm">for tviNews PERSON OF THE WEEK</A> </TD> </TR> <TR BGCOLOR="#FFFFFF"> <TD VALIGN=top WIDTH=45> Search </TD> <TD WIDTH=500> <SELECT NAME=mode> <OPTION VALUE=blended>All products Sold By Amazon <OPTION VALUE=books>Books <OPTION VALUE=music>Popular music <OPTION VALUE=classical>Classical music <OPTION VALUE=dvd SELECTED>DVD's / For TelePlay Webcasting <OPTION VALUE=vhs>VHS Videos <OPTION VALUE=theatrical>In Theaters <OPTION VALUE=toys>Toys <OPTION VALUE=baby>Baby <OPTION VALUE="pc-hardware">Computer Hardware <OPTION VALUE=videogames>Computer & Video Games <OPTION VALUE=electronics>Electronics <OPTION VALUE=photo>Photo <OPTION VALUE=software>Software <OPTION VALUE=tools>Tools & Hardware <OPTION VALUE=garden>Garden / Outdoor Living <OPTION VALUE=kitchen>Kitchen <OPTION VALUE="wireless-phones">Cell Phones & Service </SELECT> for <INPUT TYPE=text NAME=keyword VALUE="TelePlay Preview " SIZE=20 MAXLENGTH=128> <INPUT TYPE=submit NAME=Submit VALUE="Go"><INPUT TYPE=hidden NAME=tag VALUE=smart90com00><INPUT TYPE=hidden NAME=tag VALUE="smart90com/amazon" webpageid> </TD> </TR> <TR BGCOLOR="#FFFFFF"> <TD WIDTH=45> </TD> <TD VALIGN=top WIDTH=500> </TD> </TR> </TABLE> </FORM> <TABLE BORDER=1 BGCOLOR="#FFFFFF" HEIGHT=30> <TR BGCOLOR="#FF0000"> <TD ALIGN=center WIDTH=15 HEIGHT=5 BGCOLOR="#FFFF99"> </TD> <TD WIDTH=535 HEIGHT=5 BGCOLOR="#FFFFFF"> <CENTER><A NAME=end></A> We Preserve The Moment Yes90 tviNews 102 How its done in the world of Telecom. Ebbers of MCI WorldCom Found Guilty, Then Verizon Qwest Offers $8billion for MCI Qwest Raises Its Bid for MCI to $8.94 Billion / 102 MCI Deal With Verizon Soured May Pull Out of Bidding Paul Allen Television International Magazine's Person Of The Week POW61 142005 - / PAUL ALLEN / Front Cover Vol 49-POW61 TVI 61 Cover Photo: Feature Story NEWS Convergence - 14th Week of 142005 / Smart90, s90tv, lookradio, tvimagazine, dv90, vratv, xingtv, Ddiaries, nbs100, Look Radio, Josie Cory, Television With No Borders Feature Story</CENTER> </TD> <TD WIDTH=15 HEIGHT=5 BGCOLOR="#FFFF66"> </TD> </TR> <TR> <TD WIDTH=15 BGCOLOR="#FFFF66"> </TD> <TD WIDTH=535> <CENTER><A HREF="http://smart90.com/legalnotices">Legal Notices Copyright Information</A> <A HREF="http://smart90.com/howwedobiz">How Do We Do Business?</A> Tel/Fax 323 462-1099 <A HREF="mailto:tvi@smart90.com">SEND E-MAIL</A> <A HREF="#at">Return To Top </A></CENTER> </TD> <TD WIDTH=15 BGCOLOR="#FFFF66"> </TD> </TR> </TABLE> </CENTER> </TD> </TR> <TR> <TD WIDTH=30> </TD> <TD WIDTH=635> </TD> </TR> </TABLE> </BODY> </HTML>

	Click for Movie LookRadio		Click for tviNews PERSON OF THE WEEK
Yes108	See SOW Movie		(You MAY need the FREE QuickTime plug-in to view and hear s90tv)