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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) March 2, 1998
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IXC Communications, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-20803 74-2644120
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
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 release issued by IXC
Communications, Inc. dated March 2, 1998 which is hereby incorporated by
reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
99.1 Press release dated March 2, 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: March 4, 1998
IXC Communications, Inc.
By: /s/ JEFFREY C. SMITH
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Jeffrey C. Smith
Senior Vice President,
General Counsel and Secretary
3.
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit
Number Description
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<C> <S>
99.1 Press release dated March 2, 1998
</TABLE>
4.
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EXHIBIT 99.1
IXC NEWS RELEASE
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IXC Completes Previously Announced Agreement with PSINet
AUSTIN, Texas, March 2 /PRNewswire/ -- IXC Communications (Nasdaq: IIXC)
today announced that it has provided PSINet with an IRU on 10,000 miles of
OC-48 capacity on its nationwide fiber optic network and in exchange has
received approximately 10.3 million shares of PSINet's common stock, with an
agreed minimum valuation of $240 million. In addition, IXC's chairman Ralph
Swett has joined PSINet's board of directors.
The companies have also formed a strategic marketing alliance allowing
each to market the other's products and services. IXC and PSINet will jointly
pursue major customers requiring an integrated telecommunications and Internet
solution. As a result, IXC will package and brand PSINet's dial and dedicated
Internet services and offer managed connectivity services, including
LAN-on-Demand, and value-added services such as Web site hosting.
"This partnership is a natural fit for both IXC and PSINet. Our high
capacity fiber optic network more than satisfies PSINet's requirements for
greater bandwidth and a technology infrastructure for the future," said
Benjamin L. Scott, IXC's president and CEO. "IXC and PSINet are effectively
demonstrating the fusion of cutting edge technology with the growing needs for
integrated solutions."
PSINet has gained access to IXC's OC-48 transmission facility that can
handle throughput of up to 2.4 billion bits per second. The higher bandwidth
will enhance PSINet services including on-demand and dedicated Internet
connectivity, remote access for mobile workers, corporate intranet and security
services, and Web site hosting and development.
"IXC has the ability to deliver the most technologically advanced network
capacity which will provide us with increased bandwidth and significant
cost-savings and revenue opportunities," said William L. Schrader, chairman,
president, and CEO of PSINet. "This added capacity is a key component in our
ability to meet the incredible demands of the information age."
The fiber optics being deployed in all stages of IXC's network development
utilize state-of-the-art LS non-zero dispersion shifted fiber on secure rights
of way generally located in areas not served by other major network carriers.
IXC's fiber optic network supports the most advanced technology, including wave
division multiplexing, which allows significant increases in the speed and
volume of information carried across the network. The OC-192 equipped network
also supports a full range of advanced communications technologies, such as
synchronous optical network technology (SONET), as well as ATM and frame relay
technologies for advanced data services.
Engineered to exceed 99.98% availability, the network is monitored by one
of the most modern computerized systems in the industry. The IXC network
control center in Austin provides 24-hour, 7-day continuous self-diagnosis and
early warning to detect and correct potential trouble before transmission
integrity is affected. IXC has also developed a full range of innovative voice,
Internet and data network services.
(more)
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About PSINet
PSINet is a global facilities-based Internet Protocol telecommunications
carrier focused on the business marketplace. As the first and largest
independent commercial Internet Service Provider in the world, PSINet offers a
broad set of high speed corporate LAN connectivity services supporting managed
security and guaranteed Internet, intranet, electronic commerce, Web hosting
services, and services for other carriers and ISPs. PSINet operates an
international state-of-the-art frame relay-based, IP-optimized network
connecting to ISDN, ATM, SMDS, and wireless/satellite systems, with over 400
points of presence extending to 10 countries.
Headquartered in Herndon, VA, PSINet has subsidiaries in Canada, Japan,
Belgium, France, Germany, the Netherlands, Switzerland, and the UK. For more
information contact PSINet by telephone at 703-904-4100, by e-mail at
[email protected], or by accessing the Web site at http://www.psi.net.
About IXC Communications
Austin, Texas-based IXC Communications, Inc. is one of the largest, most
experienced and fastest-growing U.S. suppliers of network-based information
delivery solutions for the global communications market. The company owns and
operates one of the newest nationwide digital networks and makes network
capacity available to local telephone companies, national and regional
long-distance carriers, cable and utility companies and Internet Service
Providers. IXC offerings include private line, broadband, and switched and
dedicated inbound and outbound calling products, and calling card and debit
card services. IXC is a publicly traded company listed on Nasdaq under the
symbol IIXC. IXC's web site is located at www.ixc-comm.com.
SOURCE IXC Communications
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/CONTACT: Investor: James F. Guthrie, Executive Vice President and Chief
Financial Officer, 512-427-3713, or [email protected], or Media: Melissa
Jackson, Manager of Public Relations, 512-231-5247, or [email protected],
both of IXC Communications/
/Company News On-Call: http://www.prnewswire.com or fax, 800-758-5804,
ext. 115151/
/Web site: http://www.ixc-comm.com/
(IIXC)
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