Sprint Nextel Completes Affiliate Purchase and China Direct Acquires Controlling Interest in Complete Power Solutions, LLC2 February 2006
Internet Service Provider industry news provided by Financial News USA (OTC: FNWU) Sprint Nextel Corp. has closed on its purchase of former wireless affiliate Enterprise Communications Partnership for about $98 million, including the assumption of debt. In a written release Tuesday, Sprint Nextel (NYSE: S) said the deal's close ends litigation between the companies. On Dec. 16, Sprint Nextel said it would buy Enterprise, based in Columbus, Ga., and pay an additional $2 million to an Enterprise affiliate for C Block wireless spectrum licenses. Enterprise Communications provides wireless services in Georgia and Alabama. The purchase gives Sprint Nextel roughly 52,000 additional direct wireless subscribers and expands its direct service territory to encompass an additional 825,000 people. Enterprise Communications has about 80 employees and had revenue of $54.3 million for the year that ended Sept. 30. AT&T Inc. (NYSE: T) recently announced the appointment of William Leahy as vice president-Atlantic Region Legislative and Regulatory Affairs for a subsidiary of AT&T Inc. The Atlantic Region comprises 12 states, from Maine to Virginia, except Connecticut, as well as the District of Columbia. Leahy will have responsibility for all legislative, regulatory, governmental and external affairs activities in the region, a role similar to, but more expansive than, his previous position as president of AT&T Communications of New England, Inc. Based in Boston, Leahy will lead a team of AT&T professionals throughout a region critical to the new AT&T's national and international footprint.
China Direct Trading Corp. (OTC BB:CHDT) (CHDT) announced recently that it has acquired a controlling interest in Complete Power Solutions, LLC (COPO), of Pompano Beach, FL, a rapidly growing power generator distributors. CHDT acquired 51% of COPO outstanding equity and two board seats in exchange for $637,000 in cash and $1,200,000 in restricted shares of CHDT preferred stock. CHDT intends to consolidate COPO financial results for reporting purposes. China Direct President and CEO Howard Ullman said, "Acquiring an established and growing distributor like Complete Power will enhance China Direct's financial performance and provide us with a strong strategic partner and distribution channel for current and future lines of commercial and residential power generators and building supplies manufactured in China. This is consistent with our announced strategy of acquiring distribution channels for our Chinese-made products. We are exploring ways to expand our distribution network in order to meet domestic product demand with price-competitive Chinese-made goods of the highest quality." Continuing its tradition of changing the game with innovation, Motorola (NYSE:MOT) is bringing 75-degree temperatures, clear skies and perfect four-foot rolling waves to Detroit, providing residents with a taste of the NFL's Pro Bowl during Motown Winter Blast 2006. The environment is the centerpiece of Motorola's presence in Detroit for Super Bowl XL and will provide two lucky Detroit residents with a chance to win a trip to the Pro Bowl in Hawaii as well as tickets to Super Bowl XL hand delivered by Detroit Lions safety Terrence Holt and his brother, St. Louis Pro Bowl wide receiver Torry Holt. The exhibit and promotion are designed to thank Detroit residents for their role in hosting Super Bowl XL. Visitors to Detroit's Motown Winter Blast will have warm sandy beaches, palm trees, tiki bars, sand sculptures, beach volleyball and surfers cutting up a shapely shore-break in Motorola's 220' enclosure. The Hawaiian Island beach paradise recreates what NFL players and fans experience at the NFL Pro Bowl in Honolulu.
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