Company:INNOVATE Corp.

From HandWiki
Revision as of 03:53, 8 March 2023 by LinXED (talk | contribs) (correction)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Short description: American financial services and holding company
INNOVATE Corp.
TypePublic
NYSE: VATE
Russell 2000 component
IndustryFinancial services
PredecessorPrimus Telecommunications Group
(1994-2014)
HC2 Holdings
(2014-2021)
Founded1994
HeadquartersNew York, New York
Key people
Wayne Barr, Jr., CEO
ProductsA Diversified Holding Company
BrandsDBM Global, Pansend, HC2 Broadcasting
SubsidiariesDTV America
(50%)
Websitewww.innovatecorp.com

INNOVATE Corp. (formerly known as HC2 Holdings, Inc. and Primus Telecommunications Group, Inc.) is an American public financial services company founded in 1994.

History

Beginning (1994–1997)

First logo as Primus Telecom

Primus commenced operations in 1994 intent on being a global, facilities based service provider. They entered the U.S market in 1995 by assembling their core management team and beginning operations.[1]

In 1996, Primus began its global expansion by acquiring Australia's then-fourth largest telecommunications service provider, Axicorp.[citation needed] The same year, Primus obtained a long-distance carrier license in the then-newly deregulated United Kingdom[2] and also released their initial public offering. They completed their public listing the following year with the completion of the sale of more than US$225 million in senior notes and warrants.[1]

Global expansion (1997–1999)

Primus' global expansion continued in 1997 with key acquisitions and international network expansion. They completed the build and activation of their Australian switched network, international gateway switches in New York and Los Angeles and trans-Pacific links.[3] 1997 was also the beginning of Primus' growth through acquisitions. In April, Primus purchased Cam-Net Communications Network Inc. to allow them to enter the Canadian long distance market.[4] Later that year, Primus acquired Telepassport LLC and the assets of USFI Inc; this expanded Primus' long distance services operations into Germany, Japan, Austria, Switzerland and South Africa.[5]

1998 saw Primus expand their operations further in Australia with the acquisition of Eclipse Telecommunications Pty. Ltd.[6] and Hotkey Internet Services Pty Limited.[7] These acquisitions, along with Primus' new Australian Carriers License,[8] meant they were able to offer Internet and data services to Australians. This, however, was not Primus' most significant activity in 1998. In February that year they announced the acquisition of TresCom International Inc. for a sum of US$125 million[9][10] which was later completed for US$150 million.[11] The completion of this acquisition increased Primus' customer base to approximately 200,000 corporate, small and medium-sized business, residential and wholesale customers in the North America, Europe and the Asia-Pacific regions. That same year, Primus received international carrier status from Canada's Radio and Telephone Commission[12] and signed a significant deal with Qwest for fibre and increased bandwidth capacity for their U.S points of presence.[13]

In March 1999, Primus' Canadian subsidiary purchased Toronto-based London Telecom Group Inc.[14][15] Earlier in the year Primus also purchased GlobalServe Communications, a privately owned Canadian Internet Service Provider.[16] These acquisitions were closely followed by the purchase of many of the retail operations of Telegroup Inc, including their Australian subsidiary.[17][18] A long-distance telephone company based in Fairfield, Iowa with 350,000 customers around the world, Telegroup was in Chapter 11 bankruptcy before Primus purchased their assets for $72 million.[19] Primus' growth did not end there. In March the same year they were granted a Type 1 Telecommunications Carrier License in Japan, which made them one of the first foreign-based carriers to be awarded the license.[20] They were also approved for a Public Telecommunications Operations license to offer voice telephony services in France and to capitalise on their agreement to interconnect with Deutsche Telekom[21] they purchased German Internet Service Provider, TCP/IP GmbH.[22] These developments and Primus' investment in pan-European fibre optic systems such as their Atlantic Crossing 1, Aphrodite Aphrodite, Arianne, CANTAT, Gemini and TAT12/13 meant Primus at the time offered services to 25 major cities located in 11 countries, including Austria, Denmark, England, France, Germany, Italy, The Netherlands, Norway, Spain, Sweden and Switzerland.[23] Primus continued to pursue growth through the purchase of assets in 1999. They purchased a 51% controlling stake in Brazil's fifth largest Internet Service Provider, Matrix Internet S.A to gain access to the Brazilian market;[24] they also acquired DSL provider DigitalSelect LLC[25] to improve their residential broadband capabilities and firm 1492 Technologies[26] to add e-commerce and web services capabilities to the organisation.

Peak (2000–2001)

In January Primus won the Washington Technology Fast 50 award.[27] Later that year they were recognised by Deloitte & Touche as the fastest growing technology company according to their Fast 500 ranking, an award subsequently won by eBay in 2001 and Google in 2004.[28][29][30] Primus continued their network expansion by furthering their relationship with Qwest, they signed an agreement to purchase capacity for their nationwide fiber optic cable ring and connecting routes.[31] This agreement came on the back of announcements that Primus had begun strategic alliances with Akamai Technologies and Hewlett Packard. Their relationship with Akamai involved an agreement to jointly deploy Akamai servers in select Primus points of presence to further Akamai's global content delivery capabilities.[32] Primus' venture with Hewlett Packard involved both parties joining forces to provide business services through HP-powered data centres across Primus' global network, the relationship involved a US$50 million investment by Hewlett Packard.[33] While Primus continued expanding their ATM and IP networks in the U.S and internationally[34] they also continued their acquisition growth strategy by purchasing LCR Telecom Group, a London-based voice and data reseller;[35] Infinity Online Systems Inc., a Canadian Internet Service Provider;[36] a 38% stake in Bekkoame Internet Inc., a Japanese Internet Service Provider;[37][38] Shore.Net, a New-England based Internet Service Provider with data centre facilities[39][40] and InterNeXt S.A., a French Internet Service Provider with national operations.[41] These acquisitions also coincided with Primus entering the Puerto Rico market by partnering with Virtual Inc. and receiving a Competitive Local Exchange Carrier (CLEC) license.[37][42]

At its peak in March 2000, Primus' stock price was valued at US$51.69 per share and the business was generating US$1.2 billion in revenue annually.[43]

U.S. financial downturn (2001–2004)

Following the dot-com bubble "bursting" in 2000, and the subsequent U.S financial downturn and stock market crash in 2001 after September 11,[44] Primus reportedly began scaling back growth plans and reducing their debt in response to their stock value dropping to US$0.54 in June 2002.[43]

This pre-emptive measure allowed Primus to avoid bankruptcy at the time and continue to remain profitable and record a full year earnings before interest, taxes, depreciation and amortization (EBITDA) of $101 million in 2002.[45] Primus did make some acquisitions in this period purchasing the U.S. retail voice customer base of Cable & Wireless in 2002,[46] Canadian Internet provider Magma Communications Ltd[47] and in Australia the internet service and interactive media businesses of AOL/7[48] as well as small Australian dot-com firms UseOz, Blue Mountains Internet and Standard.net.[49]

This period was still a period of growth and relative success for Primus. In 2003, Primus was added to the Russell 3000 index, a U.S. equity indexes that captures the 3,000 largest U.S. stocks based on market capitalisation.[50] They were included in the 2004 'Fortune 1000', Forbes magazines ranking of the largest public companies, based on revenue, in the United States[51] and a 2002 TeleGeography study found Primus was on aggregate the world's fifth largest carrier of international public switched telephone network (PSTN) voice traffic.[52] Primus also used this period of growth to move their stock from the NASDAQ SmallCap Market to the NASDAQ National Market to gain more transparency.[53]

Financial issues (2005–2009)

Towards the end of 2004, Primus' stock fell 69% and continued to fall in 2005 as their core revenue streams of long-distance telephone service, dial-up Internet connections and prepaid calling began shrinking.[54]

To remedy this trend Primus announced they would be shifting their focus from their,

...long distance voice heritage to become a fully integrated service provider--capable of delivering and bundling high growth telecommunication services, including local, wireless and broadband...with the capability of offering arrays of bundled wireline/wireless/broadband/VOIP products in its major markets...[55]

In 2004, Primus made their first product release in line with their new vision by releasing a high-speed VoIP Internet phone service dubbed 'Lingo'. Designed to leverage Primus international data network to provide a cost-effective retail voice service, Lingo offered U.S. customers unlimited calling in the U.S., Canada and Western Europe for only $19.95 per month.[56]

Despite 6% revenue growth in Primus' new services, broadband and VOIP,[57] on March 14, 2006, Primus Telecommunications stock was transferred from the NASDAQ National Market to the NASDAQ Capital Market due to the value of the stock dropping below $1.00.[58] This setback, however, did not stop the business from continuing to roll out their own DSLAM network internationally especially in Australia.[1]

In 2007, Primus Telecom admitted paying more than $22 million to settle a lawsuit alleging illegal or fraudulent transfers of funds.[59] Primus Telecom has also been named as a defendant in additional federal litigation.[60]

As of 2008, the company's stock had dropped more than 99% from its peak in early 2000,[61] amid declining revenue and accelerating losses.[62][63] According to the company's SEC filings:

...Primus did not maintain effective internal control over financial reporting as of December 31, 2006, due to the material weakness in the Company’s internal control over accounting for income taxes...[63]

Bankruptcy and recovery (2009-2010)

Primus' struggles finally culminated in the company filing for Chapter 11 bankruptcy protection on March 16, 2009.[64][65]

Months later, however, Primus successfully emerged from Chapter 11 on July 1, 2009. The value recovered by shareholders of old common stock (ticker NASDAQ:PRTL) will depend on the company's financial performance over the four years following their emergence from Chapter 11.[66] As a result of the reorganisation, Primus's creditors have also become significant share holders in the organisation.[citation needed]

...Under the terms of the plan of reorganization Primus has reduced its debt by $316 million, or 55%, and will emerge from bankruptcy with approximately $255 million of debt. Additionally, Primus reduced interest payments by approximately 50% and extended certain debt maturities...

...None of Primus' operating companies in the United States, Australia, Canada, India, Europe or Brazil were included in the restructuring. The operating units have and will continue to manage and to operate their businesses normally...[67]

The newly emerged public company was not listed on any stock exchange until June 23, 2011 when it began trading under the ticker PTGI on the NYSE.[68][69]

Acquisition of Arbinet (2010-2013)

As of March 4, 2010, Primus appeared on the recovery track as they reported 2009 net revenue of US$814 million and free cash flow of $27.9 million; revenue increases they claim are partly the result of:

...sales of IP-PBX, data hosting and other managed services to small and medium enterprises...[70][71]

On 11 November 2010, Primus announced the acquisition of Arbinet Corporation. A provider of international voice and IP solutions to carriers and service providers globally, Arbinet provides platform intelligence, call routing and credit management and settlement capabilities. The deal was reportedly worth approximately $28 million in a stock-for-stock transaction, reportedly Arbinet shareholders will own approximately 23% of the combined company and Primus shareholders are expected to own approximately 77% of the combined company.[72]

With more than 1,100 carriers across the world utilizing the Arbinet network Primus expects the deal to add $300 million a year in revenue to its global wholesale group and deliver costs savings of $3 million to $7 million for each of the first two years.[73]

Primus delists from NYSE (2013-2014)

On November 8, 2013, Primus's board of directors decided to[74] delist from the NYSE and de-register its common stock saying that the savings that would benefit shareholders and the company outweighed the advantages of continuing as a NYSE listed and a reporting company. Without the annual accounting and legal costs, and administrative burdens associated with SEC reporting obligations and compliance with Sarbenes-Oxley Act, Primus said it would be able to reduce its costs while still maintaining an environment with appropriate financial controls.

Primus renamed HC2 Holdings (2014-2021)

On January 7, 2014, HRG Group Inc. purchased a 40.5% stake in Primus. On April 14, 2014, Primus was[75] renamed HC2 Holdings, Inc.

HC2 Holdings Renamed INNOVATE Corp. (2021-presents)

On July 9, 2021, HC2 announced it would rename to INNOVATE Corp.,[76] stating the name "reflects the Company’s focus on innovative growth businesses".[77]

United Kingdom operations

Primus had a subsidiary in the United Kingdom . A management buyout of the UK business in 2010 saw this subsidiary separate from Primus Telecom to form New Call Telecom.[78]

Broadcast Expansion

2017 Deals

HC2 Holdings logo used from April 17, 2014 to July 8, 2021.

In July 2017, HC2 announced intentions to acquire over 50% of DTV America, which owns and operates over 50 low-power television (LPTV) stations in 42 markets in the US.[79]

In September, HC2 acquired the holdings of Mako Communications and its 38 low-power television stations.[80] October followed with the purchase of Three Angels Broadcasting Network's 14 LPTV stations.[81]

Further, in October 2017, as a result of a consent decree from the FCC, HC2 agreed to purchase LPTV stations and permits from DTV America, King Forward, Tiger Eye Broadcasting Corporation, Tiger Eye Licensing and Bella Spectra Corporation.[82]

In November 2017, HC2 acquired the Azteca América network, founded by the 2nd largest producer of Spanish-language programming in the world, TV Azteca, which sold its assets of Azteca America to focus its efforts on the Mexican market.[83] In addition, HC2 acquired Northstar Media, LLC, which operates 19 television stations, including two full-power stations, eight Class A stations and eight low-power television stations.[84] HC2 also acquired 7 stations from OTA Broadcasting,[85] and 2 from Abrahantes Communications LLC in Florida, all in November.[86][87]

Also in November, WTAM-LD of Tampa and WATV-LD of Orlando, Florida were purchased from Abrahantes Communications LLC for $750,000.[88]

In December 2017, HC2 purchased 7 stations from Jericho Partners LLC for $411,318 for KPDF-CA in Phoenix, KDFQ-LP in Prescott, Arizona; KEMO-TV, KSBO-CD, KLDF-CD and KDFS-CA in California; and WXAX-CD in Clearwater, Florida, all Azteca America affiliates.[89]

2018 Deals

KMOH-TV of Kingman, Arizona and KEJR-LD of Phoenix were purchased in January 2018 from HERO Broadcasting for $2.7 million.[90] WRNT-LD of Hartford, Connecticut and WTXX-LD of Springfield, Massachusetts were purchased from Tyche Media LLC for $2,325,000.[87]

KADF-LD of Austin, Texas was purchased from Joseph W Shaffer in February 2018 for $1,239,170.[91] WPSJ-CD of Hammonton, New Jersey was purchased from Prime Time Partners LLC for $1.7 million. WFWC-CD of Fort Wayne, Indiana was purchased for Tran Star LLC for $225,000.[92]

March 2018 saw deals to purchase KHFW-LD of Dallas, Texas from Iglesia Manmin Toda La Creacio USA Inc for $500,000, KSFW-LD of Dallas De Mujer A Mujer International for $500,000, and WYHB-CD of Chattanooga, Tennessee from Benns Family for $450,000.[93]

In April 2018, KCEB of Longview, Texas was purchased from London Broadcasting Co for $225,000.[94] KSKJ-CD of Van Nuys, California was purchased from NRJ TV for $9.25 million. A multi-station deal for $2.15 million from One Ministries Inc which included KQRO-LD, KFTY-LD and KQRM-LP of California.[95]

In June 2018, HC2 Holdings agreed to buy Iowa City, Iowa's KWKB from KM Communications for $1.85 million.[96] Also in June, WDWO-CD of Detroit, Michigan was purchased from TCT Ministries for $4 million, KPNZ-TV of Ogden, Utah from Estrella Media for $3,325,000.[97] WPVN-CD of Chicago, Illinois was purchased from Polnet Communications for $7 million.[98]

Deals announced in August 2018 were WVTT-CD of Olean, New York from Woodland Communications LLC for $1.5 million, and WGCE-CD of Rochester, New York from Milachi Media for $1,172,661.[99] Also, KGBS-CD of Austin, Texas was purchased for $1.75 million from CNZ Communications, and WWCI-CD of Vero Beach, Florida from V1 Productions Inc for $503,000. WPVS-LP of Sheboygan, Wisconsin was purchased from Polnet Communications for $400,000.[100]

September 2018 saw the announcement of the purchase of WJFB in Lebanon, Tennessee from Radiant Life Ministries for $5.75 million.[101] HC2 also purchased Columbus, Ohio station WDEM-CD from Minority Brands for $850,000.[102] Also in September, a multi-station deal in Puerto Rico was announced with HC2 buying WOST, WQQZ-CD and WWKQ-LD from Corporate Media Consultants Group LLC for $2.85 million.[103]

In October, HC2 purchased K20JX-D from Amazing Facts Inc for $800,000.[104]

2019 Deals

In May 2019, HC2 Holdings announced they were acquiring a full-power station from Lowcountry Media for $2.6 million. WSCG of Baxley, Georgia serves the Savannah market.[105] The purchase of two low-power stations was announced in June 2019. WBEH-CD of Miami, Florida and WSPF-CD of St. Petersburg, Florida were sold by WPMF Miami LLC for $3.7 million.[106]

See also

References

  1. ↑ 1.0 1.1 1.2 "Archived copy". http://www.primustel.com/images/primustimeline.swf. 
  2. ↑ "PRIMUS TELECOMMUNICATIONS ACQUIRES AXICORP, AUSTRALIA'S FOURTH LARGEST TELECOMMUNICATIONS SERVICE PROVIDER". PR Newswire. March 25, 1996. http://www.thefreelibrary.com/PRIMUS+TELECOMMUNICATIONS+ACQUIRES+AXICORP,+AUSTRALIA%27S+FOURTH...-a018124127. 
  3. ↑ "PRIMUS Announces Completion of Portions of Its Network, Delays in Migrating Customers to Its Network and Expected Impact on Revenue and Gross Margin". PR Newswire. February 25, 1997. http://www.thefreelibrary.com/PRIMUS+Announces+Completion+of+Portions+of+Its+Network%2c+Delays+in...-a019151884. 
  4. ↑ "PRIMUS Telecommunications Reports Additional Second Quarter Results Q2 '97 Revenue up 45% vs. Q2 '96". PR Newswire. August 6, 1997. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Reports+Additional+Second+Quarter+Results...-a019652139. 
  5. ↑ "PRIMUS Telecommunications Acquires Telepassport and Assets of USFI; PRIMUS Expands Into Japan and Germany". PR Newswire. October 20, 1997. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Acquires+Telepassport+and+Assets+of+USFI%3b...-a019938970. 
  6. ↑ "PRIMUS Acquires Data Communications Service Provider". PR Newswire. April 6, 1998. http://www.thefreelibrary.com/PRIMUS+Acquires+Data+Communications+Service+Provider-a020469637. 
  7. ↑ "Hotkey History". Hotkey. http://www.hotkey.net.au/about-us/history.html. 
  8. ↑ "Primus Awarded Full Carrier License in Australia - Expects Equal Access to Begin in July - 1997". PR Newswire. July 9, 1997. http://www.thefreelibrary.com/Primus+Awarded+Full+Carrier+License+in+Australia+-+Expects+Equal...-a019568642. 
  9. ↑ "PRIMUS to Acquire TresCom for $125 Million". PR Newswire. February 4, 1998. http://www.thefreelibrary.com/PRIMUS+to+Acquire+TresCom+for+%24125+Million-a020228759. 
  10. ↑ "COMPANY NEWS; PRIMUS AGREES TO BUY A RIVAL, TRESCOM, FOR $125 MILLION". NY Times. February 5, 1998. https://www.nytimes.com/1998/02/05/business/company-news-primus-agrees-to-buy-a-rival-trescom-for-125-million.html. 
  11. ↑ "PRIMUS Completes $150 Million Merger with TresCom". PR Newswire. June 9, 1998. http://www.thefreelibrary.com/PRIMUS+Completes+%24150+Million+Merger+with+TresCom-a020763001. 
  12. ↑ "PRIMUS Seizes the Opportunity To Become Canada's International Carrier.". PR Newswire. November 9, 1998. http://www.thefreelibrary.com/PRIMUS+Seizes+the+Opportunity+To+Become+Canada%27s+International...-a053241857. 
  13. ↑ "S& Rts Primus Telecom $250 Mil Conv Sub Debentrs CCC.". BUSINESS WIRE. February 17, 2000. http://www.thefreelibrary.com/S%26+Rts+Primus+Telecom+$250+Mil+Conv+Sub+Debentrs+CCC-a059536290. 
  14. ↑ "PRIMUS Telecommunications Acquires London Telecom And Becomes Canada's Third Largest Alternative Long Distance Carrier.". PR Newswire. March 31, 1999. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Acquires+London+Telecom+And+Becomes...-a054255394. 
  15. ↑ "COMPANY NEWS; PRIMUS IN DEAL FOR LONDON TELECOM'S CANADIAN NETWORK". NY Times. April 1, 1999. https://www.nytimes.com/1999/04/01/business/company-news-primus-in-deal-for-london-telecom-s-canadian-network.html. 
  16. ↑ "PRIMUS Telecommunications Acquires Globalserve, A Leading Canadian Internet Service Provider.". PR Newswire. February 12, 1999. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Acquires+Globalserve%2c+A+Leading+Canadian...-a053874453. 
  17. ↑ "Telegroup, Inc. Announces Sale of Certain Australian Subsidiaries Which Had Been Placed in Administration" (Press release). New York: Business Wire. March 11, 1999.
  18. ↑ "COMPANY NEWS; PRIMUS TELECOMMUNICATIONS BUYING TELEGROUP ASSETS". NY Times. March 29, 1999. https://www.nytimes.com/1999/05/29/business/company-news-primus-telecommunications-buying-telegroup-assets.html. 
  19. ↑ "Primus to Buy Some Assets Of Telegroup". Wall Street Journal: p. 8. May 31, 1999. 
  20. ↑ "PRIMUS Telecommunications Group Awarded Type 1 License in Japan". PR Newswire. March 11, 1999. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Group+Awarded+Type+1+License+in+Japan.-a054074709. 
  21. ↑ "PRIMUS Expands European Operations". PR Newswire. July 13, 1999. http://www.thefreelibrary.com/PRIMUS+Expands+European+Operations-a020893467. 
  22. ↑ "PRIMUS Telecommunications Announces Acquisition of German ISP". PR Newswire. May 27, 1999. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Announces+Acquisition+of+German+ISP.-a054736993. 
  23. ↑ "Primus Launches Operations in France; European Operations Now Span 11 Countries". September 9, 1999. http://www.thefreelibrary.com/Primus+Launches+Operations+in+France%3b+European+Operations+Now+Span+11...-a055697031. 
  24. ↑ "PRIMUS Acquires Brazil's Largest Independent ISP". PR Newswire. November 11, 1999. http://www.thefreelibrary.com/PRIMUS+Acquires+Brazil%27s+Largest+Independent+ISP-a057508000. 
  25. ↑ "PRIMUS Advances its Broadband Internet Strategy With the Acquisition Of Digitalselect, a Provider of xDSL Services". PR Newswire. November 18, 1999. http://www.thefreelibrary.com/PRIMUS+Advances+its+Broadband+Internet+Strategy+With+the+Acquisition...-a057620352. 
  26. ↑ "Primus Acquires 1492 Technologies to Gain Leading-Edge E-Commerce and Web Services Capabilities". PR Newswire. November 22, 1999. http://www.thefreelibrary.com/Primus+Acquires+1492+Technologies+to+Gain+Leading-Edge+E-Commerce+and...-a057744452. 
  27. ↑ "Fast 50: 2000 Hot Companies Reflect Sizzling Region". Washington Technology. January 21, 2000. http://washingtontechnology.com/articles/2000/01/21/fast-50-2000-hot-companies-reflect-sizzling-region.aspx?sc_lang=en. 
  28. ↑ "Southeast Companies Comprise 21 Percent of Deloitte& Touche 2000 Fast 500.". All Business from Business Wire. November 17, 2000. http://www.allbusiness.com/technology/software-services-applications-information/6536690-1.html. 
  29. ↑ "2006 Highlights & Trends". Deloitte. http://www.deloitte.com/view/en_US/us/Industries/Technology/technologyfast500/1c0e912aff1fb110VgnVCM100000ba42f00aRCRD.htm. 
  30. ↑ "16 Colorado Companies Make Deloitte & Touche 2000 Technology Fast 500; New Era of Networks, Inc. is Fastest-Growing Fast 500 Company in Colorado.". Business Wire. November 16, 2000. http://www.thefreelibrary.com/16+Colorado+Companies+Make+Deloitte+%26+Touche+2000+Technology+Fast...-a066996988. 
  31. ↑ "PRIMUS Awards Qwest Communications Network Agreement for Nationwide Broadband OC-48 Fiber Optic Backbone Ring". PRnewswire. January 12, 2000. http://www.thefreelibrary.com/PRIMUS+Awards+Qwest+Communications+Network+Agreement+for+Nationwide...-a058540318. 
  32. ↑ "PRIMUS Telecommunications Becomes One of Akamai's Largest Global Content Distribution Network Providers". PRnewswire. January 12, 2000. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Becomes+One+of+Akamai%27s+Largest+Global...-a058551616. 
  33. ↑ "PRIMUS Telecommunications Group and Hewlett-Packard Company Form Strategic Alliance to Deliver Global e-Commerce, Web-Hosting and Value-Added Data Service". Reuters. March 29, 2000. http://in.reuters.com/finance/stocks/keyDevelopments?symbol=PMUG.OB&pn=8. [yes|permanent dead link|dead link}}]
  34. ↑ "Primus Telecommunications Reaches Major Milestone in Global Application-Intelligent Network Deployment - Brief Article". Bnet from Fibre Optic Business. November 30, 2000. http://findarticles.com/p/articles/mi_m0IGK/is_22_14/ai_73959119/. 
  35. ↑ "COMPANY NEWS; PRIMUS TO EXPAND IN EUROPEAN MARKET WITH ACQUISITION". NY Times. February 9, 2000. https://www.nytimes.com/2000/02/09/business/company-news-primus-to-expand-in-european-market-with-acquisition.html. 
  36. ↑ "PRIMUS Canada Expands Web Hosting, Web Content and ISP Access Services With Acquisition of Infinity Online Systems". PRnewswire. January 26, 2000. http://www.thefreelibrary.com/PRIMUS+Canada+Expands+Web+Hosting%2c+Web+Content+and+ISP+Access...-a058960236. 
  37. ↑ 37.0 37.1 "PRIMUS Telecommunications Group Acquires Stake In Japanese Internet Service Provider To Expand Operations In Asia-Pacific Region". Reuters. April 3, 2000. http://in.reuters.com/finance/stocks/keyDevelopments?symbol=PMUG.OB&pn=8. [yes|permanent dead link|dead link}}]
  38. ↑ "PRIMUS Acquires Stake in Japanese Internet Service Provider to Expand Operations in Asia-Pacific Region". PRnewswire. April 3, 2000. http://www.thefreelibrary.com/PRIMUS+Acquires+Stake+in+Japanese+Internet+Service+Provider+to+Expand...-a061710147. 
  39. ↑ "PRIMUS Telecommunications Group Acquires Shore.Net". Reuters. March 30, 2000. http://in.reuters.com/finance/stocks/keyDevelopments?symbol=PMUG.OB&pn=8. [yes|permanent dead link|dead link}}]
  40. ↑ "PRIMUS Accelerates Application Service Provider and E-Business Initiatives in U.S. With Acquisition of Full Service ISP - ASP - Company Business and Marketing". Bnet from Cambridge Telecom Report. April 3, 2000. http://findarticles.com/p/articles/mi_m0BFP/is_2000_April_3/ai_61244020/. 
  41. ↑ "PRIMUS TELECOMMUNICATIONS ACQUIRES FACILITIES-BASED INTERNET SERVICE PROVIDER SERVING THE BUSINESS MARKET THROUGHOUT FRANCE" (Press release). May 31, 2000. Archived from the original on 2000-10-01. Retrieved 2010-09-10.
  42. ↑ "PRIMUS Telecommunications Launches ISP Operations and Receives CLEC License In Puerto Rico". PRnewswire. May 19, 2000. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Launches+ISP+Operations+and+Receives+CLEC...-a062438783. 
  43. ↑ 43.0 43.1 Yuki Noguchi (June 25, 2002). "Primus, Running A Leaner Telecom". Primus Telecom from Washington Post. http://www.primustel.com/docs/washpost06252002.html. 
  44. ↑ September 11 attacks
  45. ↑ "PRIMUS Telecommunications Reports Fourth Quarter and Full Year 2002 Financial Results and Provides Guidance for 2003". PRnewswire. February 13, 2003. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Reports+Fourth+Quarter+and+Full+Year+2002...-a097591931. 
  46. ↑ "C&W, Primus Strike Deal". Bnet from Communications Today. September 17, 2002. http://findarticles.com/p/articles/mi_m0BMD/is_178_8/ai_91656895/. 
  47. ↑ "PRIMUS Telecommunications Acquires an Internet Service Provider in Canada". Business Wire. April 15, 2004. http://findarticles.com/p/articles/mi_m0EIN/is_2004_April_15/ai_115347680/. 
  48. ↑ "PRIMUS Telecommunications to Acquire the Internet Service and Interactive Media Businesses from the Shareholders of AOL/7 and to License the AOL Brand in Australia". Business Wire. February 11, 2005. http://findarticles.com/p/articles/mi_m0EIN/is_2004_Feb_11/ai_113136934/. 
  49. ↑ "Primus Australia goes on ISP feeding frenzy". ZDnet. December 2, 2002. http://www.zdnet.com.au/primus-australia-goes-on-isp-feeding-frenzy-120270351.htm. 
  50. ↑ "PRIMUS Telecommunications Slated to Be Added to Russell 3000 Index". Business Wire. June 16, 2003. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Slated+to+Be+Added+to+Russell+3000+Index.-a0103387820. 
  51. ↑ "PRIMUS Telecommunications Named to the Fortune 1000". Business Wire. March 25, 2004. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Named+to+the+Fortune+1000.-a0114605338. 
  52. ↑ "PRIMUS Telecommunications Ranked Among Top Carriers In Global TeleGeography Study". Market Wire. February 29, 2004. http://findarticles.com/p/articles/mi_pwwi/is_20050229/ai_mark02035732/. 
  53. ↑ "PRIMUS Telecommunications Elevated to NASDAQ National Market". Business Wire. March 21, 2003. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Elevated+to+NASDAQ+National+Market.-a099009664. 
  54. ↑ "Share Prices Fall, But Pay Goes Up". The Washington Post. June 27, 2005. https://www.washingtonpost.com/wp-dyn/content/article/2005/06/26/AR2005062600661.html. 
  55. ↑ "PRIMUS Telecommunications Reports Fourth Quarter and Annual 2004 Financial Results". Business Wire. February 22, 2005. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Reports+Fourth+Quarter+and+Annual+2004...-a0129006136. 
  56. ↑ "PRIMUS Launches 'Lingo' High-Speed Internet Phone Service". Business Wire. June 7, 2004. http://www.thefreelibrary.com/PRIMUS+Launches+%27Lingo%27+High-Speed+Internet+Phone+Service.-a0117767621. 
  57. ↑ "PRIMUS Telecommunications Reports First Quarter 2006 Financial Results". Business Wire. May 2, 2006. http://www.thefreelibrary.com/PRIMUS+Telecommunications+Reports+First+Quarter+2006+Financial...-a0145300479. 
  58. ↑ http://www.allbusiness.com/media-telecommunications/5459045-1.html [|permanent dead link|dead link}}]
  59. ↑ "Primus Telecommunications Group Inc · 8-K · For 2/14/07". SEC Info. February 14, 2007. http://www.secinfo.com/d14D5a.u1z4h.htm. 
  60. ↑ "Docket Search of Primus Telecommunications". Justia. http://dockets.justia.com/search?query=primus+telecommunications&search=Search&stateorcourt=&lawsuittype=&cases=mostrecent&min-day=1&min-month=1&min-year=2006&max-day=30&max-month=7&max-year=2007. 
  61. ↑ "Primus Telecom Stock Chart". MSN Money. http://moneycentral.msn.com/investor/charts/chartdl.aspx?PT=10&D5=0&D2=0&D3=0&showchartbt=Redraw+Chart&compsyms=&D4=1&MA0=0&MA1=0&D7=&D6=&C5=1&C5D=1&C6=&C7=1&C7D=1&C8=&C9=2&symbol=prtl&nocookie=1.  [yes|permanent dead link|dead link}}]
  62. ↑ "Primus Telecom Company Report". MSN Money. http://moneycentral.msn.com/companyreport?Symbol=prtl.  [yes|permanent dead link|dead link}}]
  63. ↑ 63.0 63.1 "Primus Telecommunications Group Inc · 8-K for 6/25/07". SEC Info. June 25, 2007. http://www.secinfo.com/d14D5a.u4A5s.b.htm. 
  64. ↑ "Primus Telecommunications Group, Incorporated Announces Consensual Financial Restructuring" (Press release). MSNBC. March 16, 2009. Retrieved March 19, 2009. [|permanent dead link|dead link}}]
  65. ↑ "Primus US parent files for Chapter 11 with debts of A$1 billion". iTWire. March 17, 2009. http://www.itwire.com/opinion-and-analysis/beerfiles/23859-primus-us-parent-files-for-chapter-11-with-debts-of-aud1-billion. 
  66. ↑ "Request Rejected". http://media.marketwire.com/attachments/EZIR/442/555739_CVR_FAQs.pdf. 
  67. ↑ "Primus Telecommunications Group Successfully Emerges From Chapter 11". Trading Markets. July 1, 2009. http://www.tradingmarkets.com/.site/news/Stock%20News/2401809/. 
  68. ↑ "Primus Approved to Begin Trading on NYSE". Yahoo Finance. June 20, 2011. https://finance.yahoo.com/news/Primus-Approved-to-Begin-iw-2950950953.html?x=0&.v=1. 
  69. ↑ "Primus Telecommunications Group gets NYSE listing". Washington Business Journal. June 20, 2011. http://www.bizjournals.com/washington/news/2011/06/20/primus-gets-nyse-listing.html. 
  70. ↑ "PRIMUS Telecommunications Reports Fourth Quarter and Full-Year 2009 Financial Results". Marketwire. March 4, 2010. http://www.marketwire.com/press-release/PRIMUS-Telecommunications-Reports-Fourth-Quarter-Full-Year-2009-Financial-Results-1126965.htm. 
  71. ↑ "Primus Telecommunications Reports Second Quarter 2010 Financial Results". Marketwire. August 16, 2010. http://www.marketwire.com/press-release/Primus-Telecommunications-Reports-Second-Quarter-2010-Financial-Results-1305261.htm. 
  72. ↑ "Arbinet Corporation to be Acquired by Primus Telecommunications Group in Stock-for-Stock Transaction Arbinet to Benefit from Increased Scale, Market Position and Global Reach". CNBC via PRNewswire. November 11, 2010. http://classic.cnbc.com/id/40128191.  [yes|permanent dead link|dead link}}]
  73. ↑ "Primus Telecom To Buy Arbinet, Sell Europe Ops". DOW JONES NEWSWIRES. November 11, 2010. https://www.wsj.com/article/BT-CO-20101111-711904.html. 
  74. ↑ "Investor Relations". hc2. http://hc2.com/investor-relations/?ir_type=12&vid=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTkyMzcyMDYmRFNFUT0wJlNFUT0wJlNRREVTQz1TRUNUSU9OX0VOVElSRSZzdWJzaWQ9NTc=&id=9237206. 
  75. ↑ "Investor Relations". hc2. http://hc2.com/investor-relations/?ir_type=12&vid=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTk1MjU5MDEmRFNFUT0wJlNFUT0wJlNRREVTQz1TRUNUSU9OX0VOVElSRSZzdWJzaWQ9NTc=&id=9525901. 
  76. ↑ "HC2 Holdings, Inc. Announces New Name, INNOVATE Corp. | INNOVATE" (in en). ir.hc2.com. http://ir.hc2.com/news-releases/news-release-details/hc2-holdings-inc-announces-new-name-innovate-corp. 
  77. ↑ Inc, HC2 Holdings (20 September 2021). "INNOVATE Corp. Completes Name Change from HC2 Holdings, Inc." (in en). GlobeNewswire News Room. https://www.globenewswire.com/news-release/2021/09/20/2299787/0/en/INNOVATE-Corp-Completes-Name-Change-from-HC2-Holdings-Inc.html. 
  78. ↑ "Archived copy". http://newsparta.net/docs/news/130701_New_Call_Investment_Press_Release_FINAL.pdf. 
  79. ↑ "HC2 to Acquire Majority Interest in DTV America". 27 June 2017. https://globenewswire.com/news-release/2017/06/27/1029746/0/en/HC2-to-Acquire-Majority-Interest-in-DTV-America.html. 
  80. ↑ "HC2 Holdings acquired the low power TV stations of Mako Communications - MandA Business News". http://www.mandabusiness.com/hc2-holdings-acquired-the-low-power-tv-stations-of-mako-communications.html. 
  81. ↑ "3ABN Deals Away 14 LPTV Properties - Radio & Television Business Report". 13 October 2017. http://www.rbr.com/3abn-deals-away-14-lptv-properties/. 
  82. ↑ http://transition.fcc.gov/Daily_Releases/Daily_Business/2017/db1031/DA-17-1058A1.pdf [bare URL PDF]
  83. ↑ "Venden Azteca América a empresa estadunidense - La Silla Rota". https://lasillarota.com/tv-azteca-america-venden-empresa-estados-unidos-hc2-networks/191650. 
  84. ↑ "HC2 Broadcasting Subsidiary Acquires Azteca America". 29 November 2017. https://globenewswire.com/news-release/2017/11/29/1210639/0/en/HC2-Broadcasting-Subsidiary-Acquires-Azteca-America.html. 
  85. ↑ "OTA Sheds TV Properties That Didn't Move In Incentive Auction - Radio & Television Business Report". 14 November 2017. http://www.rbr.com/ota-sheds-tv-properties-that-didnt-move-in-incentive-auction/. 
  86. ↑ "Station Trading Roundup: 3 Deals, $1.75M - TV News Check". 28 November 2017. http://www.tvnewscheck.com/article/109200/station-trading-roundup-3-deals-175m. 
  87. ↑ 87.0 87.1 "Station Trading Roundup: 6 Sales, $14.8M". 9 January 2018. https://tvnewscheck.com/article/110244/station-trading-roundup-6-sales-14-8m/. 
  88. ↑ "Station Trading Roundup: 3 Deals, $1.75M". 28 November 2017. https://tvnewscheck.com/article/109200/station-trading-roundup-3-deals-1-75m/. 
  89. ↑ "Station Trading Roundup: 2 Sales, $1.3M". 19 December 2017. https://tvnewscheck.com/article/109789/station-trading-roundup-2-sales-1-3m/. 
  90. ↑ "Station Trading Roundup: 1 Deal, $2.7 Million". 23 January 2018. https://tvnewscheck.com/article/110622/station-trading-roundup-1-deal-2-7-million/. 
  91. ↑ "Station Trading Roundup: 1 Sale, $1.2 Million". 27 February 2018. https://tvnewscheck.com/article/111548/station-trading-roundup-1-sale-1-2-million/. 
  92. ↑ "Station Trading Roundup: 5 Sales, $22.4M". 20 February 2018. https://tvnewscheck.com/article/111349/station-trading-roundup-5-sales-22-4m/. 
  93. ↑ "Station Trading Roundup: 3 Sales, $1.45M". 13 March 2018. https://tvnewscheck.com/article/111952/station-trading-roundup-3-sales-1-45m/. 
  94. ↑ "Station Trading Roundup: 1 Sale, $225,000". 24 April 2018. https://tvnewscheck.com/article/113052/station-trading-roundup-1-sale-225000/. 
  95. ↑ "Station Trading Roundup: 5 Sales, $15.7M". 10 April 2018. https://tvnewscheck.com/article/112698/station-trading-roundup-5-sales-15-7m/. 
  96. ↑ "Sale of KWKB Iowa City Closes". 29 January 2019. https://tvnewscheck.com/article/229341/sale-kwkb-iowa-city-closes/. 
  97. ↑ "Station Trading Roundup: 4 Deals, $3.7B". 26 June 2018. https://tvnewscheck.com/article/114605/station-trading-roundup-4-deals-3-7b/. 
  98. ↑ "Station Trading Roundup: 2 Deals, $10.5M". 12 June 2018. https://tvnewscheck.com/article/114279/station-trading-roundup-2-deals-10-5m/. 
  99. ↑ "Station Trading Roundup: 3 Deals, $18.3M". 29 August 2018. https://tvnewscheck.com/article/221371/station-trading-roundup-3-deals-18-3m/. 
  100. ↑ "Station Trading Roundup: 5 Deals, $27.7M". 21 August 2018. https://tvnewscheck.com/article/220958/station-trading-roundup-5-deals-27-7m/. 
  101. ↑ "Station Trading Roundup: 5 Deals, $6.29M". 18 September 2018. https://tvnewscheck.com/article/222498/station-trading-roundup-5-deals-6-29m/. 
  102. ↑ "Station Trading Roundup: 1 Deal, $850,000". 11 September 2018. https://tvnewscheck.com/article/222052/station-trading-roundup-1-deal-850000/. 
  103. ↑ "Station Trading Roundup: 5 Deals, $3.2M". 5 September 2018. https://tvnewscheck.com/article/221662/station-trading-roundup-5-deals-3-2m/. 
  104. ↑ "Station Trading Roundup: 3 Deals, $940,000". 10 October 2018. https://tvnewscheck.com/article/223488/station-trading-roundup-3-deals-940000/. 
  105. ↑ "WSCG Savannah Sold for $2.6 Million". 21 May 2019. https://tvnewscheck.com/article/235208/wscg-savannah-sold-for-2-6-million/. 
  106. ↑ "HC2 Holdings Buys Two Florida LPTVS". 28 June 2019. https://tvnewscheck.com/article/236403/wbeh-cd-miami-sold-for-4-million/. 

External links




Retrieved from "https://handwiki.org/wiki/index.php?title=Company:INNOVATE_Corp.&oldid=2706887"