United Online reports first quarterly profit. (Media & Technology).United Online Inc., the Westlake Westlake, city (1990 pop. 27,018), Cuyahoga co., NE Ohio, a suburb of Cleveland; inc. as a city 1956. A growing city, its various manufactures include ink and plastics. Village-based parent company of Internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. NetZero and Juno Online, reported its first ever quarterly profit a day after completing its acquisition of fellow ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. BlueLight.com. The five-year-old company reported $1.5 million in net income on $58.1 million in total revenue for the quarter ending Sept. 30, compared to a $2.7 million loss on $54.4 million in revenue for the same period last year. The news came after the company completed its acquisition of BlueLight.com on Nov. 5. United Online will pay $8.4 million in cash to financially troubled Kmart Corp. for the assets of BlueLight.com. As part of the deal, all 19 BlueLight.com employees will become United Online employees. The deal came despite objections by Microsoft and others who are creditors of Kmart, which filed for Chapter 11 bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most protection in January. Microsoft and lenders such as J.P. Morgan Morgan, American family of financiers and philanthropists. Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. Chase said they objected because they felt the proceeds from any sale of assets should go to creditors rather than Kmart itself. Kmart landed a $2 billion loan shortly after filing for bankruptcy. A U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. judge in Chicago overruled those objections and agreed the purchase should go through. San Francisco-based BlueLight.com has 165,000 users who pay $8.95 per month for service. United said those users will see a $1 increase starting Jan. 1, in keeping with United's monthly fees for its NetZero and Juno customers who pay $9.95 per month. Business Journal reporter Carlos Martinez may be reached at (818) 676-1750 ext. 17 or by e-mail at cmartinez@sfvbj.com |
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