World Com: an International Company's Questionable Ethics
WorldCom was born in 1983 with the name LDDS (Long-Distance Discount Service) in Clinton, Mississippi. In 1985 Early investor Bernard Ebbers becomes chief executive officers (CEO) of LDDS. The company became public in August 1983 with the acquisition of Advantage Companies Inc. In 1993 LDDS acquired long distance providers Resurgens Communications Group and Metromedia Communications in a three-way stock and cash transaction that created the fourth-largest long distance network in the United States. The company was changed to LDDS WorldCom in 1995 and later just WorldCom when LDDS acquired voice and data Transmission Company Williams Telecommunications group in an all-stock deal.
From 1993 to 2000 WorldCom bought or merged the following companies:
• Advanced Communication Corp. (1992)
• Metromedia Communication Corp. (1993)
• Reurgens Communications Group (1993)
• IDB Communications Group, Inc. (1994)
• Williams Technology Group, Inc. (1995)
• MFS Communications Company (1996), which owned local network access facilities via digital fiber optic cable networks in and around U.S. and European cities, and UUNet technologies, an internet access provider for business.
• On November 10, 1997, WorldCom and MCI Communication announced their US$37 billion merger to form MCI WorldCom.
• In 1998 WorldCom complete three mergers: with MCI Communications ($40 billion), the largest in history at that time, Brooks Fiber Properties ($1.2 billion) and CompuServe ($1.3 billion).
• Intermedia Communications (2001), a provider of data and internet services to businesses
On October 5, 1999 Sprint Corporation and WorldCom announced a $129 billion agreement between the two companies. However, the deal did not get approval because U.S. and European regulators blocked the proposed merger on concerns of monopoly creation.
After the MCI acquisition in 1998, the telecommunications industry entered a downturn and WorldCom suffered a serious storm when it was forced to abandon its
From 1993 to 2000 WorldCom bought or merged the following companies:
• Advanced Communication Corp. (1992)
• Metromedia Communication Corp. (1993)
• Reurgens Communications Group (1993)
• IDB Communications Group, Inc. (1994)
• Williams Technology Group, Inc. (1995)
• MFS Communications Company (1996), which owned local network access facilities via digital fiber optic cable networks in and around U.S. and European cities, and UUNet technologies, an internet access provider for business.
• On November 10, 1997, WorldCom and MCI Communication announced their US$37 billion merger to form MCI WorldCom.
• In 1998 WorldCom complete three mergers: with MCI Communications ($40 billion), the largest in history at that time, Brooks Fiber Properties ($1.2 billion) and CompuServe ($1.3 billion).
• Intermedia Communications (2001), a provider of data and internet services to businesses
On October 5, 1999 Sprint Corporation and WorldCom announced a $129 billion agreement between the two companies. However, the deal did not get approval because U.S. and European regulators blocked the proposed merger on concerns of monopoly creation.
After the MCI acquisition in 1998, the telecommunications industry entered a downturn and WorldCom suffered a serious storm when it was forced to abandon its