CNBC Europe Becomes First Major Broadcaster to Distribute Programming Over Global Crossing's Media & Entertainment Extranet.Business Editors NEW YORK--(BUSINESS WIRE)--May 31, 2001 Global Crossing Ltd. (NYSE NYSE See: New York Stock Exchange :GX): -- Global Crossing's Media & Entertainment Extranet will enable distribution of CNBC Europe programming worldwide. -- CNBC Europe initially to transmit video content over MPEG channels among its Fort Lee, New Jersey headquarters, London, and Asia. -- CNBC Europe's London hub to become center of global network that will link Singapore, Milan, Frankfurt, Paris, Tokyo, Australia and New Zealand. Global Crossing Ltd. (NYSE:GX) today announced that it has reached an agreement with CNBC Europe CNBC Europe is a business and financial news channel broadcast in Europe. It is the European version of CNBC. It is operated by NBC Universal, and headquartered in London. to provide a global digital broadband network for CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. Europe's programming. Global Crossing will enable CNBC Europe to transmit MPEG (Moving Pictures Experts Group) An ISO/ITU standard for compressing digital video. Pronounced "em-peg," it is the universal standard for digital terrestrial, cable and satellite TV, DVDs and digital video recorders (DVRs). video and embedded audio from its headquarters in Fort Lee, New Jersey Fort Lee is a borough in Bergen County, New Jersey, United States. As of the United States 2000 Census, the borough population was 35,461. Fort Lee was formed by an Act of the New Jersey Legislature on March 29, 1904, from the remaining portions of Ridgefield Township. to London and Asia over Global Crossing's fibre optic infrastructure that will have approximately 100,000 route miles The number of miles that are spanned by a telecommunications network. It does not include combined wire mileage due to multiple wires or fibers within a single cable or by overlapping segments, just the total geographic distance between cities or other terminal points. and reach over 200 cities when complete. Additional phases of the plan will include establishing connections between CNBC Europe's London hub and Singapore, Milan, Frankfurt, Paris, Tokyo, Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . John Turner, Director of Operations, CNBC Europe, said: "As the leading live broadcaster of business and financial news and information, it is crucial that we are able to be in as many of the major cities and markets around the world, as possible. Global Crossing's seamless and secure connectivity provides us with a viable alternative to satellite transmission for the 11.5 hours of live programming that we broadcast every weekday. It will also enable us to centralize our entire operation in London so we can reduce the costs of transmitting programming around the world." David Walsh, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Global Crossing, said: "We are very pleased to be developing this capability with CNBC Europe and delighted to be a partner in CNBC Europe's continuing global expansion. We believe our network will provide CNBC Europe with tremendous operating efficiencies by enabling it to create, manage and distribute content over fibre, and to pursue new revenue opportunities through our global reach." Global Crossing's Media & Entertainment Extranet was recently launched specifically to provide a service and solutions offering for the broadcast, film and publishing industries, enabling industry participants to exchange digital content over a secure, high-speed broadband connection See broadband and wireless broadband. . The extranet will connect geographically dispersed media facilities via the broadband exchange of TV-quality video, CD-quality audio, live event broadcasting, feature films and commercial production and on-demand applications. About CNBC CNBC is the leading global 24 hour broadcaster of live business and financial news and information, reporting directly from the major financial centres in Europe, the US and Asia. CNBC Europe is produced and broadcast from studios in London, while drawing on the resources of Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance and NBC news NBC News (along with NBC News + HD) is the news division of American television network NBC, a part of NBC Universal, which is majority-owned by General Electric. Its current president is Steve Capus. It is the top-rated broadcast news division and has been for a decade. contacts in 25 European cities. CNBC Europe is a service of NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. and Dow Jones. NBC is the leading television network in the US and the broadcasting unit of General Electric Company (GE). Dow Jones & Company (DJ) publishes The Wall Street Journal and its international and online editions providing business and financial news around the world. NBC also offers CNBC Europe interactive links to MSNBC MSNBC Microsoft/National Broadcasting Company , the NBC joint venture with Microsoft providing 24 hour information via television and the Internet. The CNBC service is available in Europe via the Astra ID satellite, on Cable and Digital platforms. 33 million homes, offices and hotels have full time access while almost 65 million can view CNBC Europe during the peak market opening hours opening hours open npl → heures fpl d'ouverture opening hours open npl → Öffnungszeiten pl . Globally, CNBC reaches more than 150 million homes worldwide, with channels in the US, Europe and Asia. About Global Crossing Global Crossing Ltd. (NYSE:GX) provides telecommunications solutions over the world's first integrated global IP-based network, which will have approximately 100,000 route miles, reaching 27 countries and more than 200 major cities. Global Crossing serves many of the world's largest corporations, providing a full range of managed data and voice products and services. Global Crossing operates throughout the Americas, Europe, and the Asia/Pacific region, and provides services in Asia through its subsidiary, Asia Global Crossing (Nasdaq:AGCX). Global Crossing Solutions provides integrated telecommunications solutions, including network outsourcing, to large global enterprises. Please visit www.globalcrossing.com or www.asiaglobalcrossing.com for more information. About Asia Global Crossing Asia Global Crossing (Nasdaq:AGCX), a public company whose largest shareholders include Global Crossing (NYSE:GX), Softbank (Tokyo Stock Exchange Tokyo Stock Exchange Main stock market of Japan, located in Tokyo. It opened in 1878 to provide a market for the trading of government bonds newly issued to former samurai. :9984), and Microsoft (Nasdaq:MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ), provides the Asia Pacific region with a full range of integrated telecommunications and IP services. Through a combination of undersea cables, terrestrial networks, city fiber rings and complex web hosting data centers, Asia Global Crossing is building one of the first truly pan-Asian networks, which, in combination with the worldwide Global Crossing Network, will provide the Asia Pacific region with seamless access to major business centers worldwide. As part of its strategy to provide city-to-city connectivity, Asia Global Crossing partners with leading companies in each country it connects to provide backhaul networks. Statements made in this press release that state the Company's or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; possible reductions in demand for our products and services due to competition or changes in industry conditions; changes in the nature of telecommunications regulation in the United States and other countries; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission. |
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