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BUSINESS
October 20, 1992
This Philadelphia-based regional Bell telephone company reported earnings higher than analysts' expectations for the third quarter.The company said its earnings rose 16.6 percent as a result of an increase in basic telephone volume, growth in its cellular business and strong demand for new products and services.Bell Atlantic said results for the latest period include a gain of 8 cents a share from the sale of an investment acquired in the company's Metro Mobile CTS Inc. merger in April.During the same period last year, the company had a gain of cents a share from the sale of most of the company's investment in Telecom Corp.
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NEWS
By Rona Kobell and Rona Kobell,SUN STAFF | June 17, 2000
The Federal Communications Commission gave its blessing yesterday to Bell Atlantic Corp.'s two-year quest to acquire GTE Corp. in a $65 billion deal that will create the nation's largest local telephone company. The combined company will be called Verizon Communications and will control one-third of the nation's phone lines - amounting to 63 million local phone lines in 31 states and the District of Columbia. In Maryland, Bell Atlantic employs 13,000 people and has 2.8 million customers.
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BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF Bloomberg News contributed to this report | August 16, 1997
The local telephone giant created by the $25.6 billion merger of Nynex and Bell Atlantic began its first day of operation yesterday with a promise to move quickly into long-distance service.The new Bell Atlantic Corp., which became the second-biggest telephone company behind AT&T Corp., said it expects to offer long-distance service sometime next year."We have the richest long-distance market in the world," Raymond W. Smith, Bell Atlantic chairman and chief executive, said in a teleconference from New York.
BUSINESS
By BLOOMBERG NEWS | January 5, 2000
WASHINGTON -- Bell Atlantic Corp., the No. 2 U.S. local telephone company, can proceed with plans to sell long-distance service in New York, a federal appeals court ruled yesterday in a decision that was a clear setback for two competitors. The U.S. Court of Appeals for the District of Columbia denied a request by AT&T Corp. and Covad Communications Group Inc. to delay Bell Atlantic's service until the court completes a review of the Federal Communications Commission's unanimous order authorizing the service.
NEWS
By Rona Kobell and Rona Kobell,SUN STAFF | June 17, 2000
The Federal Communications Commission gave its blessing yesterday to Bell Atlantic Corp.'s two-year quest to acquire GTE Corp. in a $65 billion deal that will create the nation's largest local telephone company. The combined company will be called Verizon Communications and will control one-third of the nation's phone lines - amounting to 63 million local phone lines in 31 states and the District of Columbia. In Maryland, Bell Atlantic employs 13,000 people and has 2.8 million customers.
BUSINESS
April 21, 1993
Earnings for Bell Atlantic Corp., the parent of the Chesapeake and Potomac Telephone Co. of Maryland, rose 22.3 percent in the first quarter as the result of cost-cutting, interest savings, and increased revenues in its telephone and cellular business.Bell AtlanticCorp... ... ... ... ...Ticker... ... ... ... ... Yesterday's... ... ... ... ... ...Symbol... ... ... ... ... Cls. ..Chg.... ... ... ... ... ...BEL... ... ... ... ... ...54 7/8 .. + 1/4Period endedMarch 31... ... ... . 1st qtr...
BUSINESS
October 8, 1993
Bell Atlantic looks to MexicoBell Atlantic Corp. and Grupo Iusacell S.A. said they are in talks for an agreement under which Bell Atlantic would acquire a stake in the Mexican company.Such an agreement would combine Bell Atlantic, the Philadelphia-based regional Bell operating company and parent of the Chesapeake and Potomac Telephone Co. of Maryland, with Mexico City-based Grupo Iusacell, the second-largest telecommunications company in Mexico.
BUSINESS
January 22, 1993
An earnings report on Bell Atlantic Corp. in Friday's Business section had an incorrect stock price and change for the close of trading Thursday. The correct price was $52.125, up 87.5 cents.The Sun regrets the error.Annual earnings for Bell Atlantic Corp., the parent of the Chesapeake & Potomac Telephone Co. of Maryland, increased by 7.6 percent, excluding a $1.55 billion noncash charge in 1991 for changes in the accounting of retiree benefits.The company attributed the increases to growth in the basic telephone business, stronger demand for new products and services, unexpected high growth in its wireless business and ,, various cost-cutting measures.
NEWS
January 21, 1994
So long, C&P. Hello, Bell Atlantic.The transformation of the Chesapeake & Potomac Telephone Co. of Maryland into Bell Atlantic-Maryland will take place Monday, Philadelphia-based Bell Atlantic Corp. said yesterday.The change, announced last September, is part of an effort to establish Bell Atlantic as a recognizable brand for a variety of telecommunications services. The parent company's six other local operating companies also are changing their names.Founded as the Maryland Telephone Co. of Baltimore City in 1878, the company was renamed the Chesapeake and Potomac Telephone Co. of Baltimore City 13 years later.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer The New York Times News Service contributed to this article | October 20, 1993
Bell Atlantic Corp. rang up a robust increase in third-quarter operating profits yesterday as its cellular phone business posted strong revenue gains.The earnings report was a further indication that Bell Atlantic was not a utility stock any more.Last week, the Philadelphia-based company announced plans to merge with Tele-Communications Inc., the nation's largest cable company.Bell Atlantic, parent company of Chesapeake & Potomac Telephone Co. of Maryland, said net profits declined slightly to $378.
BUSINESS
By BLOOMBERG NEWS | October 29, 1999
WASHINGTON -- Bell Atlantic Corp., the No. 2 local telephone company, said yesterday that it has agreed to hire at least 2,000 employees over the next year in a U.S. Labor Department program that also will help cut recruiting costs.The program will place welfare recipients, people with disabilities and other disadvantaged adults in union jobs across the company's 13-state East Coast region, including Maryland. New York-based Bell Atlantic is the largest company to join the Workforce Development System, which supports local and state job placement programs.
BUSINESS
By BLOOMBERG NEWS | April 23, 1999
NEW YORK -- Bell Atlantic Corp. said yesterday that first-quarter earnings rose 10 percent, matching estimates, as the company's sales increased faster than its expenses.Profit from operations rose to $1.15 billion, or 73 cents a share, from $1.04 billion, or 66 cents, a year ago. Per-share results matched the average estimate of 17 analysts by First Call Corp.Bell Atlantic, which sells local phone services in 13 states from Maine to Virginia, had a 4.1 percent jump in revenue to $7.97 billion from $7.65 billion, led by growth in data and wireless services.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 15, 1998
Bell Atlantic Corp. is taking a $1.1 billion charge against its third-quarter earnings, mainly to absorb costs related to troubled Asian investments and employee buyouts.Nearly half of the charge -- approximately $545 million -- comes from write-downs in the value of Bell Atlantic investments in Thailand and Indonesia, two nations that have been particularly hard-hit in the Asian financial crisis."As circumstances developed in Asia, we made the judgment that the impact on investments in Asia is going to be of a longer term than we had anticipated," said Bell Atlantic spokesman David Frail.
BUSINESS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | August 7, 1998
The Communications Workers of America, the union representing 73,000 Bell Atlantic Corp. workers, said yesterday that its members will not work without a contract if bargaining does not yield an agreement by tomorrow.If a settlement is near, however, the union said, it might extend the current three-year contract past midnight tomorrow night, when the contract expires.But there will be no repeat of the contract discussions in 1995, when members worked six months without an agreement, union officials said.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | March 31, 1998
Ciena Corp. of Linthicum was among five firms that won contracts yesterday to supply equipment to Bell Atlantic in the five-year, $1.5 billion upgrade of the phone company's communications network.The initial value of Ciena's share of the Bell Atlantic project is estimated at $12 million to $15 million.Lucent Technologies Inc., Fujitsu Network Communications Inc., Tellabs Inc. and DSC Communications Corp. also will supply equipment for the upgrade.Bell Atlantic Corp. said in January that it planned the fiber-optics upgrade to its communications network.
BUSINESS
February 11, 1998
Due to a Bell Atlantic Corp. error, 12,000 area Sprint Corp. customers had no long-distance charges on their January bills.The missing charges will be applied to customers' February bills.Bell Atlantic spokesman Harry Mitchell said a data-processing mistake caused the problem. He said the problem was unrelated to another data error that caused 350,000 AT&T Corp. customers to get tardy bills for December and January calls."We pride ourselves on providing the service our customers deserve. We didn't do so in this case.
BUSINESS
By Michael Dresser and Michael Dresser,Sun Staff Writer | October 20, 1994
Bell Atlantic Corp. reported a $1.9 billion net loss for the third quarter yesterday as solid but unspectacular operating earnings growth offset a fraction of the $2.3 billion in charges the company announced in August.The Philadelphia-based regional phone company reported that operating income came to $397.4 million, or 91 cents a share, up from $386.7 million, or 89 cents a share, a year ago.Revenues for the third quarter increased to $3.4 billion, a 3.8 percent gain over the $3.29 billion taken in during last year's third quarter.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF Bloomberg News contributed to this report | August 16, 1997
The local telephone giant created by the $25.6 billion merger of Nynex and Bell Atlantic began its first day of operation yesterday with a promise to move quickly into long-distance service.The new Bell Atlantic Corp., which became the second-biggest telephone company behind AT&T Corp., said it expects to offer long-distance service sometime next year."We have the richest long-distance market in the world," Raymond W. Smith, Bell Atlantic chairman and chief executive, said in a teleconference from New York.
BUSINESS
July 8, 1997
Bell Atlantic Corp. said yesterday that it has an agreement with MCI Communications Corp. that will enable the regional Bell telephone company to provide long-distance data transmission services throughout its six-state service area.MCI is the largest long-distance carrier with which Bell Atlantic has forged such an agreement.Financial terms were not disclosed.Bell Atlantic said the data transmission agreement will allow it to market the nonvoice service to its larger business customers.The agreement links the two companies' frame relay networks, Bell Atlantic said.
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