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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 27, 1998
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IXC Communications, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-20803 74-2644120
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
1122 Capital of Texas Highway South, Austin, Texas 78746
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (512) 328-1112
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Not applicable
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS.
Attached as Exhibit 99.1 is a press releases issued by IXC
Communications, Inc. dated May 27, 1998 which is hereby incorporated by
reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(C) EXHIBITS
99.1 Press Release dated May 27, 1998
2.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: May 27, 1998
IXC Communications, Inc.
By: /s/ James F. Guthrie
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James F. Guthrie
Executive Vice President and
Chief Financial Officer
3.
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EXHIBIT INDEX
Exhibit
Number Description
- ------- -----------
99.1 Press Release dated May 27, 1998
4.
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EXHIBIT 99.1
NEWS RELEASE
(BW)(IXC-COMMUNICATIONS)(IIXC) IXC Takes Equity Stake in
AppliedTheory to Help Build Next Generation Internet Backbone
Business Editors/Computer Writers
AUSTIN, Texas -- (BUSINESS WIRE) -- May 27, 1998 --
Industry Leading "Emerging Carrier" Continues Network Services
Expansion by Purchasing Stake in New York-based ISP
IXC Communications, Inc. (NASDAQ:IIXC) today announced it has purchased a
34 percent stake in the New York-based ISP, AppliedTheory Communications, Inc.
The addition of AppliedTheory's team of Internet experts, including some
who were involved in the Internet's original development, strongly positions
IXC to build the next generation IP technical infrastructure to meet the
explosive demand for data communications such as multimedia and real-time video
applications.
"IXC's investment in AppliedTheory is an important strategic step in our
ongoing effort to deliver a comprehensive set of network-based communications
solutions to customers," said Ben Scott, chairman, president and CEO at IXC.
"A strong Internet offering built for the future is another key component
in IXC's product mix for our wholesale, retail and international markets."
The agreement between IXC and AppliedTheory allows each company to build
on the other's core competencies in order to deliver complete communications
services to the market. IXC gains critical Internet expertise and AppliedTheory
gains access to one of the newest, most advanced fiber networks to immediately
begin building an international network with multiple data centers, and support
for Web hosting.
In addition to IXC's 34 percent stake, AppliedTheory has sold an
additional 17 percent of the company to Grumman Hill Investments III. Grumman
Hill is a private equity firm, and an investor in IXC, focused on building
management teams that aggressively grow the values of their businesses.
AppliedTheory was formed in 1996 by the not-for-profit organization,
NYSERNet, which came into being in 1985 and is one of the architects of today's
commercial Internet. By virtue of this heritage, and services it designed to
satisfy New York State's research and education community, AppliedTheory
delivers high performance, high quality Internet services to meet the needs of
a pioneering customer base.
IXC and AppliedTheory together will offer unsurpassed, high performance
communications services to businesses and leading edge institutions like those
affiliated with Internet 2, which seek Next Generation Internet capabilities.
"Through this strategic alliance, AppliedTheory and IXC have the
opportunity to deploy a new generation of Internet technology," said Richard
Mandelbaum, president and CEO of AppliedTheory.
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"We are poised to build the world's first terabit per second network and
thereby help assuage the Internet's insatiable appetite for more bandwidth.
With IXC's network expertise, we can move quickly to provide more capacity to
commercial and academic users as well as other ISPs, CLECs and cable operators."
AppliedTheory specializes in high-speed Internet access, Web-hosting and
Web-enabled database integration, serving such clients as the Bank of New York,
General Electric, the University of Rochester, the U.S. Department of Labor,
and Eastman Kodak. More information about AppliedTheory Communications, Inc. is
available via its Web site at http://www.appliedtheory.com.
IXC's network-based delivery solutions are designed to address the speed
and capacity requirements of the global communications market. Having recently
completed the U.S.'s first new coast-to-coast fiber optic network in a decade,
IXC Communications, Inc. is at the forefront of the industry's new class of
emerging carriers.
IXC's offerings include private line, broadband, Internet and long
distance switched and dedicated services. IXC is a publicly traded company
listed on the Nasdaq under the symbol IIXC. IXC's Web site is located at
www.ixc-comm.com.
CONTACT: IXC Communications, Inc.
James F. Guthrie, 512/427-3731 (Investor Contact)
[email protected]
Melissa Jackson, 512/231-5247 (Media Contact)
[email protected]
or
AppliedTheory Communications, Inc.
Kerry Hanna, 516/466-8422
[email protected]
