Atlantic Tele-Network Announces Interruption of Some Audiotext Traffic.Business Editors ST. THOMAS, U.S. Virgin Islands--(BUSINESS WIRE)--May 3, 2000 Atlantic Tele-Network, Inc. (AMEX AMEX See: American Stock Exchange :ANK ANK Ankara (Turkey) ANK Attempted, Not Known ANK Alphanumeric Keyboard ANK Anunaki (ancient Sumerian Gods) ) announced today that it had received notice from MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. World Com that MCI will no longer carry audiotext traffic. MCI is the only U.S. carrier with which ATN's subsidiary, the Guyana Telephone & Telegraph Company, Ltd., currently has direct circuits. Audiotext traffic to Guyana has been steadily declining for the past several years, and GT&T has filed applications for increases in local rates in anticipation of the drying up of this traffic. In the first quarter of this year, audiotext traffic contributed about $490,000 (or $0.10 per share) to ATN's net income, and MCI carried about 50% of that traffic. A spokesman for GT&T said, "Audiotext traffic has not been a significant factor in our plans for the future of GT&T. However, we have asked counsel to advise us whether MCI's precipitous action constitutes a breach of our operating agreement An operating agreement is an agreement among limited liability company ("LLC") members governing the LLC's business, and Member's financial and management rights and duties. No state requires an LLC to have an Operating agreement. with MCI, and we plan to take steps to take action; to move in a matter. See also: Step to enforce our rights and are actively seeking other carriers for audiotext traffic." |
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